FoRx raises US$50m in Series A to advance PARG inhibitor

FoRx Therapeutics AG has closed a US$50m (CHF40m) Series A financing, in addition to its 2020 seed financing of US$10m. The Basel-based company develops precision oncology therapeutics. Funds advance Phase I development of lead candidate FORX-428. The round was insider-led and strategically oversubscribed.

Existing investors supported the financing. They include EQT Life Sciences, Pfizer Ventures and Novartis Venture Fund. M Ventures also participated in the round. A first closing occurred in June 2024. That tranche funded IND submission and trial initiation.

Financing strategy and execution

Capital supports a first-in-human, open-label Phase I trial. Recruitment began in August 2025 in the United States. The study enrols patients with advanced solid tumours. All participants exhausted standard-of-care options. Endpoints include safety, tolerability, pharmacokinetics and early efficacy. Initial clinical data are expected by mid-2026. Management targets a clear go or no-go decision. The budget prioritises rapid dose escalation and expansion cohorts. Operational focus remains tightly controlled and milestone-driven.

FORX-428 mechanism and differentiation

FORX-428 is an oral small-molecule PARG inhibitor. PARG regulates poly(ADP-ribose) turnover during a DNA repair process called break-induced replication, which was discovered by the company’s scientific founder Thanos Halazonetis. Inhibition disrupts the DNA damage response. This creates lethal stress in genetically defined tumours but not healthy cells.

PARP inhibitors transformed oncology more than a decade ago. However, resistance frequently emerges in treated patients. According to the company, PARG represents a next-generation DDR target. FORX-428 addresses tumours resistant to PARP inhibition.

Preclinical studies showed robust anti-tumour activity. Efficacy was observed across multiple solid tumour models. Both in vitro and in vivo data were generated. The compound demonstrated favourable pharmacology and tolerability. FoRx positions FORX-428 as potential best-in-class. Differentiation rests on potency, oral dosing and safety.
Combination and monotherapy applications remain in scope. Execution discipline will determine clinical relevance.