QX Biotech completes $85 million Series B financing.

Quxin Biotech has completed a $85 million oversubscribed Series B financing. The round was led by Lilly Asia Ventures and Sanofi Ventures, with participation from Sequoia China and existing investors. The proceeds from this round will be used to support the company's clinical development of STAT6 oral small molecule inhibitors and IL-17 oral small molecule inhibitors, as well as advance its ongoing research and development of oral therapeutic drugs in the field of immune and inflammatory diseases.