$30 Million In New Funding Signals “Better Day to Cure Cancer” for Incyclix

Fourteen years ago, the founders of Incyclix Bio were part of a different team with a shared vision – seven words scrawled on a lab whiteboard at the University of North Carolina at Chapel Hill – “It’s a good day to cure cancer.”

They’ve been at it ever since. And they’ve just received $30 million in Series B financing to help make their job a little easier.

The three scientists – Patrick Roberts, Pharm.D., Ph.D.; Jay Strum, Ph.D.; and John Bisi, B.S. – were among the researchers who helped develop G1 Therapeutics, which opened its doors in 2008. In 2020 they founded Incyclix Bio (formally Arc Therapeutics) – headquartered in Research Triangle Park – with an exclusive license for G1’s preclinical CDK2 inhibitor program. 

Roberts is CEO, Strum is chief scientific officer, and Bisi is senior vice president of research and development. Fred Eshelman, who established Eshelman Ventures, is a co-founder as well.

On March 30 the company announced the closing of a $30 million Series B financing led by a new investor, Boxer Capital. RA Capital Management also participated, along with existing investor Eshelman Ventures.

Eshelman, an early financer of G1, is chairman of Incyclix’s board of directors. He also founded and served as CEO and executive chairman of PPD, and is the namesake of UNC Chapel Hill’s school of pharmacy. Sid Subramony, Ph.D., vice president of Boxer Capita, will join the board. Nathaniel Brooks Horwitz, principal of RA Capital, will be a board observer. 

Incyclix focuses on producing small molecule inhibitors of cyclin-dependent kinases (CDKs) to attack advanced and treatment-resistant cancers. The uncontrolled cellular growth that is a hallmark of cancer is commonly caused by the activity of various types of CDK.

Incyclix said the financing will be used to support the clinical development of its lead compound, INX-315, a selective cyclin-dependent kinase 2 (CDK2) inhibitor that is nearing clinical stage. The company is planning a proof-of-concept phase 1/2 study in CDK4/6-resistent and Cyclin E-overexpressed cancers, including breast and ovarian cancer.

While CDK4/6 inhibitors have been approved for patients with certain types of breast cancer, they don’t effectively treat the variations of disease targeted by Incyclix’s experimental CDK2 therapy.

“Incyclix Bio is entering an exciting time of growth as we transition from preclinical to clinical development and we are encouraged by the tremendous support of our new and existing investment partners,” CEO Roberts said. “This financing will enable us to validate INX-315 in the clinic and generate proof of concept data to support future development.”

Laura Rowley, Ph.D., vice president of Life Science Economic Development at the North Carolina Biotechnology Center, said Incyclix is an excellent example of the innovation capacity and impact of North Carolina’s research community. “At NCBiotech, we look forward to supporting Incyclix and all our growth-stage companies to have the tools they need to advance and thrive in our state,” she added. 

The Series B funding is the culmination of a nearly decade and a half journey for Roberts, Strum and Bisi. They’ve said they never lost sight of their ultimate goal, to get treatments to patients. And they must be convinced they’re making progress. Just consider Incyclix’s new mantra, highlighted on the company’s webpage – “Today is an even better day to cure cancer.”