Allink Biotherapeutics, a clinical-stage biotechnology company pioneering next-generation bispecific antibody and antibody-drug conjugate (ADC) therapeutics, announced the completion of a $42 million Series A financing. The funding round was led by Lanchi Ventures with participation from an elite syndicate of new investors, including Yuanbio Venture Capital, Legend Capital, and C&D Emerging Industry Equity Investment, along with support from existing shareholders Gaorong Ventures and Med-Fine Capital.
The Series A funding proceeds will be deployed to advance:
— Global clinical development of lead candidates ALK201 and ALK202 through Phase 1 studies in Australia, the US, and China
— Enrichment of current portfolio by developing multiple highly competitive new assets in oncology and immunology
— Further development of the company’s proprietary bispecific antibody and ADC technology platform
— Global footprint expansion to achieve world prominence
The completion of this round of financing marks a major moment in AllinkBio’s growth trajectory. And with the new financial resources in place and the company’s efficient R&D capabilities, AllinkBio is well-positioned for expedited growth toward new heights on both its product and corporate development fronts.
KEY QUOTES:
“Since our company’s inception a little over a year ago, AllinkBio has rapidly advanced from lead asset PCC to clinical development stage. We are grateful for the continued support from existing shareholders and delighted to welcome new investors who recognize both our scientific excellence and capability of translating scientific findings into clinical applications. Their support enables us to accelerate the development of our diverse pipeline spanning multiple modalities including next-generation ADCs and bispecific antibodies targeting oncology and immunology diseases. Looking ahead, we are poised to achieve multiple pipeline milestones in the coming months as we pursue our long-term mission of bringing innovative therapeutics to patients with significant unmet medical needs.”
– Hui Feng, Ph.D., Founder and Chief Executive Officer of AllinkBio
“AllinkBio’s exceptional execution speed and quality in advancing its lead program from preclinical to clinical stage, led by Dr. Feng, one of the leading figures in China’s biopharmaceutical industry, demonstrates the company’s high competitiveness in the field. AllinkBio’s innovative approach to ADC development presents a compelling opportunity in the targeted oncology therapeutics space.”
– Lanchi Ventures
“Our continued investment in AllinkBio reflects our strong conviction in the company’s scientific excellence and execution capabilities. Since our initial investment, we have been impressed by the company’s rapid advancement in both platform development and pipeline progression. We are excited to strengthen our commitment through this Series A financing.”
– Jiangtao Yu, Ph.D., Managing Director at Gaorong Ventures
“We are delighted to have witnessed the fast and steady development of AllinkBio. Dr. Feng and his team’s dedicated work in progressing two highly promising ADC drug candidates into clinical stage within one and half years since company inception has been really impressive. We believe the company has great potential and will continuously support its endeavor in developing innovative drugs for patients in need globally.”
– Angel Round lead investor Vince Deng, Ph.D., Partner of Med-Fine Capital
