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TargetRx Lands $20 Million in China Commercialization Pact

publication date: Sep 3, 2024

Shenzhen TargetRx raised $20 million by selling China commercial rights for an ALK inhibitor to Nanjing’s Simcere Zaiming. The deal solves two issues facing TargetRx: it now has a partner for commercialization, and it has brought in more capital. The company’s last raise was $21.2 million in 2021, so the new funds are probably welcome as TargetRx steps up clinical trials of its two lead drugs, including the ALK inhibitor. TargetRx is conducting a Phase III China trial of TGRX-326, a third-generation dual-targeting anaplastic lymphoma kinase (ALK) inhibitor that crosses the blood-brain barrier, showing efficacy in NSCLC patients with brain metastases. More details....

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