Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F:
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
Exhibit 99.1
Adlai Nortye Announces $140.0 Million Private
Placement Equity Financing
SINGAPORE and NORTH BRUNSWICK, N.J. and HANGZHOU,
China, February 3, 2026 (GLOBE NEWSWIRE) -- Adlai Nortye Ltd. (Nasdaq: ANL) (the “Company” or “Adlai
Nortye”), a clinical-stage biotechnology company focused on the development of innovative cancer therapies, today announced that
it has entered into securities purchase agreements for a private investment in public equity financing that is expected to result in gross
proceeds of approximately $140.0 million, before deducting placement agent fees and other expenses.
In the private placement, the Company is selling
64,615,386 Class A ordinary shares of the Company (equivalent of 21,538,462 American Depositary Shares, each representing 3 Class A ordinary
shares), at a price of $2.1667 per Class A ordinary shares (equivalent of $6.50 per ADS). The private placement is expected to close on
February 4, 2026, subject to the satisfaction of customary closing conditions.
The private placement was co-led by Cormorant
Asset Management and Columbia Threadneedle Investments with participation from both new and existing investors including Balyasny Asset
Management L.P., Point72, Squadron Capital Management and Casdin Capital.
The private placement includes the sale of approximately
$55 million of Class A ordinary Shares to the entities controlled by Yang Lu, Chairman and Chief Executive Officer of the Company.
“We are pleased that this high-quality healthcare
investor group came together to support Adlai Nortye and our innovative and potentially best-in-class RAS-targeting therapies,”
said Yang Lu, Chairman and Chief Executive Officer of Adlai Nortye. “We thank the investors for their confidence in the broad potential
of our RAS-targeting therapies and Next-generation cancer immunotherapies, and their support for our mission to transform deadly cancer
into a chronic and eventually curable disease.”
Jefferies, Leerink Partners, Lucid Capital Markets,
H.C. Wainwright & Co. and Jones are acting as joint placement agents for the private placement.
The securities being issued and sold in this private
placement have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered
or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements.
Adlai Nortye has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the ADSs
issued in the private placement.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction.
About Adlai Nortye
Adlai Nortye is a global
clinical-stage company at the forefront of discovering and developing innovative cancer therapies. Leveraging its dual R&D presence
in the United States and China, Adlai Nortye is building a robust pipeline of drug candidates focused on two key areas where it believes
it can make a significant difference. (1) Next-generation cancer immunotherapies: Adlai Nortye’s drug candidates, AN8025 (a tri-functional
fusion protein of αPD-L1 x CD86 variant x LAG3 variant), a T-cell and antigen-presenting cell modulator, and AN4005 (a first-in-class
oral small-molecule PD-L1 inhibitor), are designed to activate cancer immunity in novel ways. (2) RAS-targeting therapies: Adlai Nortye
is tackling RAS-driven cancers with AN9025, an oral pan-RAS(ON) inhibitor, and AN4035, a CEACAM5-targeting ADC delivering a potent pan-RAS(ON)
inhibitor directly to tumors.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,”
“assume,” “believe,” “contemplate,” “continue,” “could,” “design,”
“due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,”
“plan,” “positioned,” “potential,” “predict,” “seek,” “should,”
“target,” “will,” “would” and other similar expressions that are predictions of or indicate future
events and future trends, or the negative of these terms or other comparable terminology. All statements other than statements of historical
facts contained in this press release are forward-looking statements. These forward-looking statements include, but are not limited to,
statements about: the expected closing date of the private placement; cash operating runway; and the intended use of proceeds. These and
other risks are described in greater detail under the section titled “Risk Factors” contained in the company’s Annual
Report on Form 20-F and earnings release on Form 6-K and the Company’s other filings with the SEC. Any forward-looking statements
that the Company makes in this press release are made pursuant to the Private Securities Litigation Reform Act of 1995, as amended, and
speak only as of the date of this press release. Except as required by law, the company undertakes no obligation to publicly update any
forward-looking statements, whether as a result of new information, future events or otherwise.
Company contact:
Investor Relations
Email: ir@adlainortye.com
