Allink Biotherapeutics, a Shanghai-based clinical-stage biotechnology company developing antibody drug conjugates and multi-specific antibody therapeutics for oncology and immunology, has completed extension rounds of its Series A financing, raising $47 million. The company said the extension rounds were led by existing supporter Legend Capital and new investor Meituan Long Z Investment, with participation from additional returning and new investors including Lanchi Ventures, Yuanbio Venture Capital, 5Y Capital, Lapam Capital, and Runzhang Venture Capital, among others.
AllinkBio said the proceeds will be used to advance two lead ADC programs that are currently in global Phase I clinical trials and to support continued development of its ADC and multi-specific antibody platforms. The company is positioning the financing as a step toward accelerating clinical execution while developing next-generation biologic modalities to address limitations of existing therapeutic approaches.
The company’s lead program, ALK201, is an FGFR2b targeted ADC that AllinkBio described as a potential first and best in class candidate. The company said ALK201 has shown encouraging efficacy signals across multiple tumor types along with a favorable safety profile, supporting a development strategy that could position the candidate as a backbone therapy for FGFR2b overexpressing solid tumors. In parallel, AllinkBio said early clinical data for ALK202, an EGFR and cMET bispecific ADC, have provided preliminary support for its potential use as a cornerstone therapy in non-small cell lung cancer, while the clinical program expands into evaluation across additional biomarker-defined tumor types and patient populations.
AllinkBio said it is developing both ADC assets using a biomarker-guided strategy aimed at demonstrating activity across a broad spectrum of solid tumors. In the near term, the company plans to initiate combination therapy studies to further explore both candidates in broader front-line patient populations, with the goal of moving ALK201 and ALK202 toward pivotal trial readiness while differentiating each program in its target indications.
Beyond ADCs, AllinkBio said it is building a proprietary masked T cell engager platform intended to expand the application of T cell engagers in solid tumors. In immunology, the company said it is advancing a portfolio of first-in-class bi- and multispecific antibody candidates designed through a rational biology approach, with programs intended to address patient populations that remain underserved by current standards of care.
Founded in 2023, AllinkBio said it has rapidly advanced two ADC candidates into global Phase I trials by combining platform capabilities with what it described as strong R and D efficiency, and it plans to continue expanding its pipeline across oncology and immunology.
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“We sincerely appreciate the decisive and continued support from our investors within such a short timeframe, With this support, we are moving forward with a clear clinical roadmap to accelerate our lead programs. Beyond the two leading programs, our discovery engine is fully activated, poised to deliver new wave of innovative drug candidates that will unlock further value in the foreseeable future .”
Hui Feng, Ph.D., Founder and Chief Executive Officer of AllinkBio
“Our continued support is rooted in our confidence in the AllinkBio team’s efficient execution and their robust development strategy. The rapid clinical advancement of their two competitive lead assets is already serving as a strong validation of the company’s ADC platform and presenting significant value. We look forward to the near-term clinical readouts and seeing more innovative programs emerge from their discovery platforms.”
Tan Hong, Managing Director at Legend Capital
“The AllinkBio team pairs an international mindset with best-in-class execution, setting a remarkable pace in the ADC space. We are deeply impressed by the potential of their technology platform and are excited to help the team translate these original innovations into global impact, ultimately delivering life-changing therapies to patients worldwide.”
Xuejing Guo, Managing Director and Head of Healthcare at Meituan Long-Z Investment
