FoRx Therapeutics, a clinical-stage biotech developing precision oncology medicines, has closed an insider-led $50 million (CHF 40 million) Series A financing to advance its lead candidate, FORX-428, into and through Phase 1 clinical development in advanced solid tumors.
The company said proceeds will support its ongoing first-in-human, open-label Phase 1 study evaluating safety, tolerability, pharmacokinetics, and preliminary efficacy in patients with advanced solid tumors who have exhausted standard-of-care options. FoRx noted the trial began recruiting in the United States in August 2025, with initial clinical data expected by mid-2026.
FoRx is positioning FORX-428 as a potential new option for patients whose cancers are resistant to, or have become resistant to, PARP inhibitors. The company is targeting PARG, a DNA repair enzyme involved in the DNA Damage Response (DDR), as a next-generation DDR approach following the clinical impact of PARP inhibitors over the past decade.
The financing included participation from existing investors EQT Life Sciences, Pfizer Ventures, Novartis Venture Fund, and M Ventures. FoRx said the round also included a first closing in June 2024 that funded work through the IND application and the initiation of the Phase 1 trial.
FORX-428 is an orally available small-molecule inhibitor of poly (ADP-ribose) glycohydrolase. FoRx said preclinical studies demonstrated robust anti-tumor activity across multiple solid tumor types, with the compound showing potential in both monotherapy and combination settings, alongside drug-like pharmacology and a favorable tolerability profile.
KEY QUOTES:
“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… with initial clinical data expected in mid-2026.”
Tarig Bashir, CEO, FoRx Therapeutics
“Advances in PARG inhibition hold significant potential as a therapeutic strategy in Oncology. Our syndicate’s continued support of FoRx reflects our confidence in both, the lead candidate FORX-428, and the strong progress achieved by its experienced management team.”
Vincent Brichard, Board Member, FoRx Therapeutics (EQT Life Sciences)
