Lanchi Ventures Leads $42M Series A Financing for Allink Biotherapeutics to Accelerate Global Development of Bispecific Antibody and ADC Pipeline
The series A investment round secures resources for advancing global Phase I/II clinical programs and orchestrating the company's global footprint expansion.
BEIJING, Nov. 28, 2024 /PRNewswire/ -- Allink Biotherapeutics, a clinical-stage biotechnology company pioneering next-generation bispecific antibody and antibody-drug conjugate (ADC) therapeutics, today announced successful completion of an $42 million Series A financing. The financing round was led by Lanchi Ventures, a preeminent global early-stage technology investor known for backing breakthrough innovations, with participation from an elite syndicate of new investors including Yuanbio Venture Capital, Legend Capital and C&D Emerging Industry Equity Investment, alongside strong support from existing shareholders Gaorong Ventures and Med-Fine Capital.
"Since company inception a little over a year ago, AllinkBio has rapidly advanced from lead asset PCC to clinical development stage," said Hui Feng, Ph.D., Founder and Chief Executive Officer of AllinkBio, "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."
"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," commented Lanchi Ventures. "AllinkBio's innovative approach to ADC development presents a compelling opportunity in the targeted oncology therapeutics space."
The Series A financing proceeds will be deployed to advance:
- Global clinical development of lead candidates ALK201 and ALK202 through Phase 1 studies in Australia, the United States 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 successful completion of this round of financing marks a pivotal moment in AllinkBio's growth trajectory. With the new financial resources in place, combined with 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.
About AllinkBio
Founded in 2023, AllinkBio is a clinical stage biotechnology company leveraging its innovative proprietary platforms in bispecific antibodies and ADCs to develop a diverse pipeline of First-in-Class (FIC) and Best-in-Class (BIC) therapeutics. AllinkBio aims to develop treatment paradigm shifting new drugs for patients in the oncology and immunology disease areas and address critical unmet medical needs globally.
About Lanchi Ventures
Lanchi Ventures (LCV), a leading early-stage venture capital firm with offices in Singapore, Hong Kong, and Beijing, focuses on investing in entrepreneurs who leverage technological innovations to create a sustainable impact. With its heritage in Silicon Valley since 1998, Lanchi Ventures (LCV) manages over $2 billion in capital through multiple funds and has invested in over 200 portfolio companies, including Gaussian Robotics, TCab, UniUni, Agibot, Galbot, Moonshot, Li Auto (NASDAQ:LI), QingCloud (688316.SH), WaterDrop (NYSE:WDH), Ganji/58.com, Guazi, etc. The firm has been recognized by Forbes, Fortune, Preqin, and others. For further information, please visit https://www.lanchiventures.com.
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