Incyclix Bio, a biotechnology company developing next-generation precision cancer treatments, has raised an additional $5 million in Series B financing to support the continued clinical development of its lead drug candidate, INX-315. The financing came from new investor Hatteras Venture Partners, which joined the company’s existing group of investors supporting the advancement of its cyclin-dependent kinase 2 (CDK2) inhibitor program.

The latest investment builds on Incyclix Bio’s broader Series B financing efforts, which have supported the company’s transition from preclinical research into human clinical development. The company previously announced a $30 million Series B financing led by Boxer Capital, with participation from RA Capital Management and existing investor Eshelman Ventures.

Founded in 2020 and headquartered in Research Triangle Park, North Carolina, Incyclix Bio is focused on developing therapies that target abnormal cell-cycle activity driving many cancers. The company’s lead compound, INX-315, is a potent and selective CDK2 inhibitor designed to treat advanced and treatment-resistant cancers, including breast and ovarian cancers.

Hatteras Venture Partners joined Incyclix Bio’s investor group through the additional Series B financing. As part of the investment, Hatteras partner Kseniya Simpson, Ph.D., joined Incyclix Bio’s board of directors, while Hatteras general partner Christy Shaffer, Ph.D., became a board observer. The investment will help support the ongoing Phase 1/2 clinical trial of INX-315 in patients with advanced and metastatic cancers.

Boxer Capital led Incyclix Bio’s original $30 million Series B financing announced in 2022. The investment supported the company’s efforts to advance INX-315 into clinical development and reflected investor interest in therapies targeting CDK2, a protein involved in regulating cell division and cancer growth.

RA Capital Management participated in the 2022 Series B financing alongside Boxer Capital. The healthcare-focused investment firm joined the round as Incyclix Bio prepared to advance its lead program into clinical testing.

Eshelman Ventures, founded by pharmaceutical executive Fred Eshelman, was an early supporter of Incyclix Bio and participated as an existing investor in the company’s Series B financing. Eshelman Ventures has supported the company’s development as it works to create new cancer therapies based on CDK biology.

Additional investors supporting Incyclix Bio’s Series B financing include Eli Lilly and Company, Pharmacosmos, and Cape Fear BioCapital. These investors participated in a later $11.25 million Series B extension announced in 2025, which helped advance the company’s first-in-human study of INX-315.

Incyclix Bio’s work centers on the role of cyclin-dependent kinases (CDKs), a family of proteins that regulate the cell cycle and can contribute to uncontrolled cancer growth when disrupted. The company’s scientific approach focuses on selectively targeting CDK2, which has emerged as a potential therapeutic target in cancers that develop resistance to existing treatments.

The company’s INX-315 program is being evaluated in a Phase 1/2 clinical trial involving patients with recurrent advanced or metastatic cancers. The trial is designed to evaluate the safety, tolerability, and preliminary effectiveness of the oral CDK2 inhibitor in patients with cancers including CDK4/6 inhibitor-resistant ER-positive/HER2-negative breast cancer and tumors with CCNE1 amplification.

The financing comes as pharmaceutical companies and biotechnology investors continue to seek new approaches for treating cancers that have become resistant to existing therapies. CDK inhibitors have gained attention as a promising area of oncology research because of their potential to interrupt the mechanisms that allow cancer cells to continue dividing.

Incyclix Bio was founded by scientists with experience in CDK inhibitor discovery and drug development. The company’s leadership team includes Patrick Roberts, Pharm.D., Ph.D., who serves as CEO and co-founder, along with other researchers who have contributed to the development of cancer therapies.

The additional capital will allow Incyclix Bio to continue advancing INX-315 through clinical development while expanding research into precision treatments for patients with difficult-to-treat cancers. The company aims to build on its expertise in cell-cycle biology to develop therapies that address significant unmet medical needs in oncology.

With backing from Hatteras Venture Partners, Boxer Capital, RA Capital Management, Eshelman Ventures, Eli Lilly and Company, Pharmacosmos, and Cape Fear BioCapital, Incyclix Bio is continuing its efforts to advance targeted cancer therapies and bring new treatment options to patients with resistant cancers.

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