Allink Biotherapeutics Raises $42M to Drive Clinical Development of Breakthrough Cancer Therapies

Allink Biotherapeutics, a clinical-stage biotechnology company based in Beijing, has secured $42 million in Series A financing. The money will be used to advance its innovative oncology and immunology research. This round was led by BlueRun Ventures, with additional investment from Yuansheng Ventures, Legend Capital, Jianfa New Investment, as well as existing backers Gaorong Ventures and Mifang Health Fund.

The capital will be used to accelerate the global clinical development of Allink’s key candidates, ALK201 and ALK202, currently in Phase 1 clinical trials in Australia, the United States, and China. In addition, the company will further expand its research and development pipeline across oncology and immunology and optimize its bispecific antibody and ADC technology platforms.

Allink Biotherapeutics was founded in June 2023 by Dr. Feng Hui, dedicated to the development of next-generation bispecific antibodies and ADC therapies addressing critical unmet needs in the treatment of cancer and immune diseases. Its lead candidate, ALK201, is a gene-targeting ADC for malignancies with FGFR2b abnormalities. Its clinical trial application has been approved by the FDA, and the first patient was successfully dosed in Australia.

CEO and founder Dr. Feng Hui thanked the company’s strong support from both current and new investors. “In just a short time since our establishment, we have made great strides from the preclinical to clinical stage,” Dr. Feng said. “This funding will enable us to accelerate the development of our innovative pipelines, such as next-generation ADCs and bispecific antibodies, bringing new hope for cancer and immune disease patients.”

It is particularly significant given the very challenging funding environment for the biopharmaceutical sector at this time. Despite these challenges, Allink’s rapid progress has attracted the attention of leading investors who are confident that the company will deliver innovative therapies.

Lanchi Ventures, one of the new investors in the round, is very optimistic about Allink’s technology platforms. “Allink Biotech’s bispecific antibody and ADC technology, along with its independent intellectual property rights, makes the company a leader in innovative drug development. Its clinical-stage molecules have great potential for breakthroughs in cancer treatment, and we are fully confident in Dr. Feng and the team’s execution capabilities,” said Lanchi Ventures.

Gaorong Ventures’s Managing Director, Dr. Yu Jiangtao, added, “The company is an impressive innovator in the areas of bispecific antibodies and ADC platforms. We invested early on, and since then, we have seen Allink accelerate its development and maintain confidence in their ability to bring truly innovative treatments to the market.”.

Similarly, Dr. Lingquan Deng, Partner at Mifang Health Fund, underlined the company’s successes in clinical transformation and its pipeline. “We are proud to support Allink in this new funding round and look forward to seeing the company deliver new therapies that will benefit patients globally,” said Dr. Deng.

This financing round positions Allink Biotherapeutics to solidify its place in the competitive global biopharmaceutical landscape. The funds will enable the company to not only advance its lead candidates, ALK201 and ALK202, through clinical trials but also further develop its innovative bispecific antibody and ADC platforms, enhancing its pipeline with new treatments for a variety of cancers and immune diseases.

Allink’s development strategy focuses on creating First-in-Class (FIC) and Best-in-Class (BIC) therapies that could bring more effective and targeted treatments with fewer side effects. The company has a robust pipeline and clinical-stage candidates, promising to make a big impact in the field of oncology and immunology.

In the coming months, Allink Biotherapeutics looks to meet with a succession of research and development milestones in the pipeline. Continual improvement in the advancement of drug candidates and the firm’s increase in global presence can propel this company toward success with growing demands for innovative therapeutic drugs that will fight back cancer and immune diseases.