FoRx Therapeutics raises $50 million to advance clinical trials
In August this year, FoRx Therapeutic initiated its first human trial Phase 1 clinical development of its lead drug candidate, FORX-428, designed to target and disrupt the DNA Damage Response in advanced solid tumors. The company has now obtained USD 50 million (CHF 40 million) Series A funding to advance the study.
Existing investors, including EQT Life Sciences, Pfizer Ventures, Novartis Venture Fund and M Ventures participated in the financing including a first closing in June 2024, which provided funding through the Investigational New Drug (IND) application for FORX-428 and the initiation of the Phase 1 trial. The syndicate is again supporting FoRx in its series A round, providing fresh funding to accelerate the ongoing trial.
The discovery that distinct genetic subsets of cancer are exceptionally vulnerable to drugs that interfere with the DNA Damage Response (DDR) led to the approval of PARP inhibitors more than 10 years ago, transforming cancer treatment. With FORX-428, FoRx is pursuing a next-generation DDR target, which shows significant potential as a new treatment for patients whose cancers are resistant to, or have become resistant to, PARP inhibitors.
FORX-428 is a proprietary, orally available small molecule inhibitor of poly (ADP-ribose) glycohydrolase (PARG). PARG is a DNA repair enzyme considered important for the survival of certain genetically defined cancers with specific DDR deficiencies or high replication stress. In preclinical studies, FORX-428 demonstrated robust anti-tumor activity across multiple solid tumor types underscoring the novel compound’s outstanding potential in both monotherapy and combination settings. FORX-428 was well tolerated, demonstrating drug-like pharmacology and a favorable safety profile.
The ongoing first-in-human Phase 1study of FORX-428 is progressing as planned, with initial data readout expected by mid-2026. The open-label study, which began recruitment in August 2025 in the United States, is evaluating safety, tolerability, pharmacokinetics, and preliminary efficacy in patients with advanced solid tumors who have exhausted standard-of-care options.
Tarig Bashir, CEO of FoRx Therapeutics, said: “The FoRx team is proud to have earned the continued trust and conviction of this sophisticated syndicate of leading strategic and specialist investors. The funds from this investment will allow us to achieve initial clinical readout in our ongoing Phase 1 trial of FORX-428, which has shown very strong anti-tumor efficacy in multiple preclinical in vitro and in vivo tumor models. We are looking forward to reinforcing its best-in-class PARG inhibitor characteristics and potential to make a significant difference to patients.”
(Press release/RAN)
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