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Allink Biotherapeutics Secures $42 Million in Series A Financing to Accelerate Development of Next-Generation Oncology and Immunology Therapies

NextEdge Admin

30 Nov 2024

2 min 40 sec

biotechnology,Lanchi Ventures,antibody-drug conjugates

Allink Biotherapeutics, a clinical-stage biotechnology company focused on next-generation bispecific antibodies and antibody-drug conjugates (ADCs) for oncology and immunology, has successfully completed a $42 million Series A financing. The round was led by Lanchi Ventures, with participation from Yuanbio Venture Capital, Legend Capital, C&D Emerging Industry Equity Investment, and support from existing investors Gaorong Ventures and Med-Fine Capital.

Founded just over a year ago, AllinkBio has rapidly advanced its lead asset, PCC, into clinical development. CEO and founder Hui Feng, Ph.D., expressed gratitude for the support of current and new investors, emphasizing the company’s ability to translate scientific findings into clinical applications. The funds will be used to accelerate the development of a diverse pipeline that includes next-generation ADCs and bispecific antibodies targeting various diseases.

Lanchi Ventures highlighted the company’s impressive execution, noting its swift progression of its lead program from preclinical to clinical stages, underpinned by Dr. Feng’s leadership. Gaorong Ventures commended AllinkBio’s strong platform development and pipeline advancement, expressing confidence in the company’s potential. Med-Fine Capital’s Vince Deng, Ph.D., praised the team’s ability to progress two promising ADC candidates into clinical stages within just 18 months.

The Series A financing will enable AllinkBio to advance the global clinical development of lead candidates ALK201 and ALK202 through Phase 1 trials in Australia, the US, and China. It will also support the development of new assets in oncology and immunology, as well as the expansion of its proprietary bispecific antibody and ADC technology platform. The funding positions AllinkBio for accelerated growth in both product development and global presence, driving the company’s mission to address significant unmet medical needs.