Allink Biotherapeutics Secures $42M Series A for Bispecific Antibody and ADC Development

Allink Biotherapeutics, a clinical-stage biotechnology enterprise based in Shanghai, has successfully finalized its Series A financing, securing $42 million. This funding round was spearheaded by Lanchi Ventures, an influential early-stage technology investor with a track record for supporting breakthrough innovations. The round also saw participation from new investors such as Yuanbio Venture Capital, Legend Capital, and C&D Emerging Industry Equity Investment, along with continued support from existing shareholders Gaorong Ventures and Med-Fine Capital.

In just over a year since its inception, Allink Biotherapeutics has transitioned its lead asset PCC from preclinical to clinical development stage. Hui Feng, Ph.D., the company’s founder and CEO, expressed gratitude for the ongoing support from existing investors and welcomed the new investors. He emphasized that this financial boost would accelerate the development of their diverse pipeline, which includes next-generation ADCs and bispecific antibodies targeting oncology and immunology diseases. Feng highlighted the company's commitment to achieving multiple milestones in the near future and its long-term mission to bring innovative therapeutics to patients with significant unmet medical needs.

Lanchi Ventures praised Allink Biotherapeutics for its rapid progress and high competitiveness, particularly noting the leadership of Dr. Feng and the company's innovative approach to ADC development. Similarly, Jiangtao Yu, Ph.D., Managing Director at Gaorong Ventures, reaffirmed their strong belief in AllinkBio’s scientific and execution capabilities, pointing out the significant advancements made since their initial investment.

Vince Deng, Ph.D., Partner of Med-Fine Capital and lead investor of the Angel Round, expressed his admiration for the rapid and steady development of Allink Biotherapeutics. He noted the promising progress of two ADC drug candidates into the clinical stage within a year and a half since the company’s inception, and reaffirmed their commitment to supporting the company’s innovative drug development for patients in need globally.

The proceeds from the Series A financing will be utilized to advance several key initiatives:

1. Global clinical development of lead candidates ALK201 and ALK202 through Phase 1 studies in Australia, the United States, and China.
2. Expansion of the company’s current portfolio by developing highly competitive new assets in the fields of oncology and immunology.
3. Further development of the company's proprietary bispecific antibody and ADC technology platform.
4. Global footprint expansion to achieve world prominence.

This successful financing round marks a significant milestone in Allink Biotherapeutics' growth trajectory. With these new financial resources, coupled with the company’s efficient R&D capabilities, Allink Biotherapeutics is well-positioned for accelerated growth and aims to reach new heights in both product and corporate development.

Founded in 2023, Allink Biotherapeutics is dedicated to leveraging its innovative platforms in bispecific antibodies and ADCs to develop a diverse pipeline of First-in-Class and Best-in-Class therapeutics. The company focuses on creating paradigm-shifting treatments for patients with oncology and immunology diseases, addressing critical unmet medical needs globally.

Allink Biotherapeutics will use this momentum to drive forward their ambitious plans, aiming to make significant strides in the biopharmaceutical industry and improve patient outcomes worldwide.