Switzerland-based biotechnology company FoRx Therapeutics has announced the closing of a $50 million Series A financing round.

The insider-led investment will fund the advancement of the Phase I trial of its lead candidate, FORX-428, a Poly(ADP-Ribose) Glycohydrolase inhibitor (PARG) inhibitor for advanced solid tumors. The new capital is earmarked to achieve an initial clinical data readout from the ongoing Phase I study by mid-2026.

The Series A round was supported by existing investors EQT Life Sciences, Pfizer Ventures, Novartis Venture Fund, and M Ventures.

Targeting PARP-Resistant Cancers

FORX-428 represents a next-generation approach in targeting the DNA Damage Response (DDR), a validated pathway in oncology. The drug inhibits PARG, an enzyme critical for DNA repair. FoRx is targeting this mechanism to treat cancers that are resistant to or have become resistant to PARP inhibitors, a class of drugs approved over a decade ago.

“The funds from this investment will allow us to achieve initial clinical readout in our ongoing Phase I trial of FORX-428,” said Tarig Bashir, CEO of FoRx Therapeutics. He highlighted the compound’s “very strong anti-tumor efficacy” in preclinical models.

FORX-428 is an orally available small molecule designed to disrupt DDR in genetically defined cancers. Preclinical studies demonstrated robust anti-tumor activity across multiple solid tumor types and a favorable safety profile. The open-label Phase I trial, which began patient recruitment in the United States in August 2025, is evaluating safety, tolerability, pharmacokinetics, and preliminary efficacy in patients with advanced solid tumors who have exhausted standard treatments.

FoRx’s first-in-human study is progressing as planned, according to the company. The company expects to report initial data from the Phase I trial of FORX-428 by mid-2026.

Broader Sector Funding Activity

The FoRx announcement follows significant recent investments across the life sciences sector. Earlier this month, Santersus secured a Series A for its blood purification device.

In November, AAVantgarde closed a $141 million Series B for genetic eye disease therapies. Meanwhile, Modulight secured $12.2 million in a seed financing round for neurological disorder treatments.  

In July, Pila Pharma raised SEK 20 million ($1.8 million) for an obesity and type 2 diabetes drug. Besides drug development, Sorcero raised $42.5 million to expand its AI platform for life sciences in November.