Lanchi Ventures Leads $42M Series A Financing for Allink Biotherapeutics to Accelerate Global Development of Bispecific Antibody and ADC Pipeline

Rhea-AI Summary

Allink Biotherapeutics has secured a $42 million Series A financing led by Lanchi Ventures, with participation from Yuanbio Venture Capital, Legend Capital, C&D Emerging Industry Equity Investment, and existing investors. The funding will support the global clinical development of lead candidates ALK201 and ALK202 through Phase 1 studies across Australia, the United States, and China. The company focuses on developing next-generation bispecific antibody and antibody-drug conjugate (ADC) therapeutics for oncology and immunology applications. The proceeds will also fund portfolio expansion, technology platform development, and global footprint growth.

Positive

• Secured substantial $42M Series A financing
• Strong investor backing from multiple venture capital firms
• Advanced from preclinical to clinical development stage in just over a year
• Expanding global clinical presence across Australia, US, and China

Negative

• Early-stage clinical programs with no proven efficacy yet
• Requires significant capital for multiple clinical trials and global expansion

Insights

Biotech Investment Analyst

This $42M Series A financing represents a significant milestone for Allink Biotherapeutics' development of ADC and bispecific antibody therapeutics. The deal validates the company's technology platform through backing from prominent investors like Lanchi Ventures and Legend Capital. Key value drivers include:

• Advancement of ALK201 and ALK202 through global Phase 1 trials across multiple regions
• Development of their proprietary bispecific antibody and ADC technology platform
• Expansion of pipeline assets in oncology and immunology

The ADC therapeutics market is experiencing rapid growth, with major pharma companies actively seeking acquisitions in this space. Recent ADC deals have commanded significant premiums, suggesting strong potential returns for early investors. However, clinical development risks remain as the company's assets are still in early stages.

Market Research Analyst

The ADC therapeutics sector has seen explosive growth, with the global market projected to reach $30B by 2028. This financing positions Allink strategically in a highly competitive landscape where recent ADC-focused acquisitions have exceeded $10B in value. The investor syndicate's composition, combining specialized biotech VCs with broader technology investors, suggests strong confidence in both the technology platform and commercial potential. The company's multi-regional development strategy across Australia, US and China provides valuable market access and regulatory diversification.

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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SOURCE Lanchi Ventures

FAQ

How much Series A funding did Allink Biotherapeutics raise in 2024?

Allink Biotherapeutics raised $42 million in Series A funding led by Lanchi Ventures in November 2024.

What are Allink Biotherapeutics' lead drug candidates?

Allink Biotherapeutics' lead drug candidates are ALK201 and ALK202, which are advancing through Phase 1 studies globally.

What therapeutic areas does Allink Biotherapeutics focus on?

Allink Biotherapeutics focuses on developing bispecific antibody and ADC therapeutics for oncology and immunology diseases.

Which countries will Allink Biotherapeutics conduct its Phase 1 clinical trials in?

Allink Biotherapeutics will conduct Phase 1 clinical trials in Australia, the United States, and China.