What is D3 Bio?
D3 Bio operates as a specialized biotechnology enterprise dedicated to the discovery, development, and registration of novel medicines, with a primary focus on oncology and immunology. By leveraging advanced clinical insights and biomarker-driven strategies, the firm develops therapies designed to address critical immune pathways and driver mutations. Its business model emphasizes the creation of first-in-class and best-in-class therapeutic candidates, maintaining global rights to its internal programs to ensure long-term value capture within the competitive biopharmaceutical sector.
How much funding has D3 Bio raised?
D3 Bio has raised a total of $570M across 3 funding rounds:
Series A
$200M
Series A
$262M
Series B
$108M
Series A (2020): $200M with participation from Matrix Partners, Sequoia Capital, Boyu Capital, Temasek, and WuXi AppTec
Series A (2024): $262M led by Medicxi, WuXi AppTec, Boyu Capital, Temasek, Matrix Partners, and Sequoia Capital
Series B (2025): $108M supported by HSG, IDG Capital, Temasek, and Medicxi
Key Investors in D3 Bio
Medicxi
Medicxi is a healthcare investment firm that specializes in supporting innovative biotechnology companies, providing financial resources and strategic guidance to advance research and development efforts.
Temasek
Founded in 1974, Temasek is a global investment company headquartered in Singapore that acts as a generational investor with a long-term perspective on value creation.
Boyu Capital
Boyu is a leading alternative asset management firm specializing in private equity and venture capital, with a strong focus on the healthcare and technology sectors.
What's next for D3 Bio?
With the infusion of capital from its latest financing, D3 Bio is well-positioned to transition its lead candidates through rigorous clinical registration processes. The strategic focus will likely shift toward expanding its R&D infrastructure and accelerating the transition of its oncology programs from candidate selection into human clinical trials. By maintaining its commitment to high-potential therapeutic modalities, the company aims to address significant unmet medical needs, further validating its platform-centric approach to drug development in an increasingly complex global healthcare market.
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