Sironax Ltd.

The series A investment round secures resources for advancing global Phase I/II clinical programs and orchestrating the company's global footprint expansion. SHANGHAI, Nov. 28, 2024 /PRNewswire/ -- Allink Biotherapeutics, a clinical-stage biotechnology company pioneering next-generation bispecific antibody and antibody-drug conjugate (ADC) therapeutics, today announced the successful completion of a $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 our company's 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," said Lanchi Ventures. "AllinkBio's innovative approach to ADC development presents a compelling opportunity in the targeted oncology therapeutics space." "Our continued investment in AllinkBio reflects our strong conviction in the company's scientific excellence and execution capabilities," said Jiangtao Yu, Ph.D., Managing Director at Gaorong Ventures. "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." "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." said Angel Round lead investor Vince Deng, Ph.D., Partner of Med-Fine Capital. 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 . About Gaorong Ventures Founded in 2014, Gaorong Ventures is focused on early and growth-stage investments, with a specialty in new technology, healthcare, internet and new consumption. We have 24 IPO portfolios, amongst which, many of them have advanced to be leaders in their perspective industries, including Pinduoduo (NASDAQ: PDD), Huya (NYSE: HUYA), BOSS Zhipin (NASDAQ: BZ), Roborock (688169.SH), etc. We continue to invest in the healthcare industry and are committed to discovering and accompanying leading companies in the fields of drug discovery, medical instrumentation and testing, digital health and medical services. Representative examples include Alto Neuroscience（NYSE: ANRO）, ProfoundBio (acquired by Genmab）, Sironax, Cornerstone Robotics, HYGEA, United Family Healthcare, Saint Bella, etc. About Yuanbio Venture Capital Yuanbio Venture Capital is a leading healthcare investment firm focusing on early and growth stage companies. Based in Suzhou bioBay, YuanBio keeps a global vision. With both RMB and USD funds, YuanBio has built up a portfolio of over 190 companies, covering biotech, medical devices, IVD, and healthcare services fields. The firm has seen great investment returns with 19 of its portfolio companies listed on the STAR, Hong Kong Stock Exchange and Nasdaq. YuanBio has received multiple awards as one of the leading healthcare VCs in China. With passion, dedication and expertise, YuanBio strives to become one of the most successful healthcare venture capital firms in China. About Med-Fine Capital Med-Fine Capital is a leading healthcare-focused venture capital firm in China, known for its capability of identifying promising entrepreneurs and investing in their NewCo formation round. Med-Fine manages multiple RMB and USD funds, investing across the healthcare sector including biotech, medical devices, diagnostics, healthcare technology and services. To date, it has grown a portfolio of approximately 70 companies, including Hanyu Medical, Mabworks, ImmVira Pharma, Zion Pharma, LYNK Pharmaceuticals, Eccogene, Pharma Legacy, MagAssist, Alebund, Allorion Therapeutics, Allink Biotherapeutics, Castalysis Bioscience, and VelaVigo. Med-Fine is dedicated to becoming a reputable investment institution with global impact. About Legend Capital Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, Seoul and Singapore. It currently manages USD and RMB funds of over US$10 billion and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Over the years, Legend Capital has become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors. Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative. About C&D Emerging Industry Equity Investment C&D Emerging Industry Equity Investment is a professional equity asset management institution under C&D Group (Fortune Global 500). Established in 2014, our mission is to "create new value and help more emerging enterprises achieve better development." We specialize in new economic fields such as healthcare, advanced manufacturing, TMT/consumption. 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WALTHAM, Mass.--(BUSINESS WIRE)-- X-Chem, the global leader in DNA-encoded library (DEL) technology, today announces the establishment of a research partnership with Sironax, in which X-Chem will leverage its powerful DEL platform to support Sironax’s drug discovery pipeline. Through the collaboration, X-Chem will screen its unique DNA-encoded libraries against difficult-to-drug targets implicated in neurodegenerative disease to discover hits. In turn, Sironax will prosecute these hits into transformational medicines for degenerative disease. “We appreciate being a preferred partner to support drug discovery projects across the Sironax portfolio,” said X-Chem CEO Matt Clark. “The combination of Sironax’s deep scientific knowledge and our leading DEL platform will help drive the discovery of new therapeutics that will help patients.” About X-Chem X-Chem, Inc. is the leader in small molecule discovery science, providing pharmaceutical and biotech companies a complete, seamless solution for screening, hit validation and lead optimization. As pioneers of DNA-encoded chemical library (DEL) technology, the company leverages its market-leading DEL platform to discover novel small molecule leads against challenging, high-value therapeutic targets. In-house lead optimization services enable clients to progress their compounds directly for even higher quality outputs. Our expertise in medicinal chemistry, custom synthesis and scale-up process chemistry enables us to support all aspects of drug discovery, supporting lead optimization through candidate identification. About Sironax Sironax is a clinical-stage biotechnology company dedicated to the discovery and global development of novel treatments for patients with age-related degenerative diseases. Since its founding in 2017, Sironax has built a diverse pipeline of multiple programs, focusing on key mechanisms underlying age-related degenerative diseases including regulated cell death, neuroprotective pathways and neuroinflammation. Sironax is currently conducting early clinical studies with SIR0365 and SIR2446, in addition to ongoing preclinical research. For more information, please visit .

GluBio Adds $22M for TPD Platform Investors Pour $120M into OriCell's Cancer Immunology Efforts Sironax Bolsters Fight against Degenerative Diseases with $200M Series B Existing Stockholders Prop Up AEON's Botulinum Injection Core Biogenesis Win $10.5M for Environmentally Friendly Model There are many more shots on cancer this week as funding went to oncology-focused companies such as GluBio and Shanghai-based OriCell. China-based Sirolax scooped up a whopping $200 million to fight degenerative diseases, and French Core Biogenesis is building a new manufacturing facility for eco-friendly growth factor production. GluBio Adds $22M for TPD Platform After a Series A+ financing round, GluBio Therapeutics added another $22 million, bringing its total assets to almost $90 million. The biotech company focuses on developing novel targeted protein degradation (TPD) drugs, and with this latest cash boost, it now has the resources to launch two molecular glue degrading products to clinical stages. Both are intended to help treat hematological malignancies. The new funds will also go toward upgrading the company's proprietary TPD platform, which identifies small-molecule protein degraders and accelerating lead optimization for three more assets targeting solid tumors and inflammatory diseases. Investors Pour $120M into OriCell's Cancer Immunology Efforts Cancer immunology company OriCell Bio closed a victorious Series B financing round with the equivalent of USD$120 million. The Shanghai-based company had support from major Chinese investors such as Qiming Venture Partners, Quan Capital and C&D Emerging Capital. Some of the funding will help OriCell to build a new manufacturing plant and advance its discovery platform. It will also support the development of Ori-C101, a chimeric antigen receptor T cell (CAR-T) product intended to treat liver cancer, which was recently accepted as an investigational new drug by the National Medical Products Administration (NMPA) of China. OriCell also needs the funds to advance OriCAR-017, a CAR-T treatment for relapsed and refractory multiple myeloma, through clinical development in both the U.S. and China. Sironax Bolsters Fight against Degenerative Diseases with $200M Series B Also in Beijing, Sironax scooped up roughly $200 million in a Series B round of financing, led by Gaorong Capital and Yunfeng Capital. The biotech company develops treatments for age-related degenerative diseases and so far, it has garnered more than $300 million in funding. Sironax said it plans to use the money to expand R&D and pipeline efforts, especially for the clinical development of its portfolio of RIPK1 inhibitors. The funding will also go toward advancing programs that study the underlying mechanisms of age-related degenerative diseases, such as regulated cell death, neuroprotective pathways and neuroinflammation. "We have built a robust pipeline of novel programs of both small molecules and biologics that target critical pathways underlying degenerative disease pathogenesis," Sironax CEO Aaron Ren, Ph.D. said. "With this investment, we are well-positioned to advance additional programs into the clinic and continue to move our lead program forward." Existing Stockholders Prop Up AEON's Botulinum Injection California-based AEON Biopharma has investors that are so committed they put an additional $30 million into an unsecured convertible note. This brings total insider investments to $54.5 million since December 2021. The funding aims to advance ABP-450, AEON's proprietary botulinum toxin complex for therapeutic indications. The toxin works by blocking peripheral acetylcholine release at presynaptic cholinergic nerve terminals. Currently, AEON is testing the product's effectiveness in treating cervical dystonia, chronic migraine and episodic migraine in Phase II clinical trials. Core Biogenesis Win $10.5M for Environmentally Friendly Model French biotech company Core Biogenesis completed a Series A round of financing with about $10.5 million. The primary focus of the funding will be to build an industrial-scale facility that produces growth factors and cytokines for cell therapy. Core Biogenesis is unique because of its plant-based molecular farming platform, in which proteins from oilseed plants produce highly bioactive compounds. These compounds can be used in cell culture media components and cell therapy manufacturing without the need for animal products. "Not only can we produce proteins at high yield and lower cost than traditional methods, but our entire production process is carbon-negative. At Core Biogenesis, we truly believe that what is good for the patient can also be good for the planet," CSO and Co-founder Chouaib Meziadi said.