Allink Biotherapeutics Successfully Raises $47 Million in Series A Extension for Clinical Advancement

Allink Biotherapeutics Raises $47 Million in Series A Extension

Allink Biotherapeutics, Inc. (AllinkBio), a prominent clinical-stage biotechnology company, has recently announced a remarkable achievement in closing $47 million in its Series A extension rounds. This funding is set to significantly enhance the company's clinical development programs centered around advanced antibody-drug conjugates (ADCs) and multi-specific antibody therapeutics aimed at oncology and immunology.

Investors and Funding Details

The recent funding round was spearheaded by prominent existing investor Legend Capital along with new participant Meituan Long-Z Investment. This injection of capital also included the support of other significant investors such as Lanchi Ventures, Yuanbio Venture Capital, 5Y Capital, and Runzhang Venture Capital. The extension reflects both the confidence of existing investors and the interest of new supporters in AllinkBio's innovative potential.

Advancing Clinical Programs

The primary use of the newly acquired funds will be directed towards the global clinical development of AllinkBio's two leading therapeutic candidates, ALK201 and ALK202. These programs are designed to meet essential therapeutic needs in oncology, particularly targeting FGFR2b and comprehensively addressing multiple tumor types.

ALK201, designed as a first- and best-in-class FGFR2b-targeted ADC, has shown promising efficacy signals across various tumor types with a safety profile that strengthens its case for being a backbone therapy in treating FGFR2b-overexpressing solid tumors. Meanwhile, ALK202 has garnered initial support for its function as an EGFR/cMET bispecific ADC, poised to become a cornerstone therapy for patients with non-small cell lung cancer. The company intends to broaden the clinical evaluation of ALK202 to include various biomarker-defined tumor types and patient demographics.

Strategic Development Approaches

In a bid to maximize the potential of their therapeutic assets, AllinkBio is employing a biomarker-guided strategy. This involves demonstrating the efficacy of their ADCs across a wide spectrum of solid tumors with the ultimate goal of initiating combination therapy studies. These studies will enable a thorough exploration of their assets' therapeutic potential and help propel ALK201 and ALK202 towards pivotal trials, establishing a unique position in their respective treatment landscapes.

Innovating Beyond ADCs

Beyond the current ADC technologies, AllinkBio is engaged in establishing a novel masked T-cell engager (TCE) platform aimed at revolutionizing solid tumor therapeutics. The company also focuses on developing first-in-class bi- and multi-specific antibody candidates that utilize advanced biologic designs to address significant unmet medical needs in patient populations.

Dr. Hui Feng, the Founder and CEO of AllinkBio, expressed gratitude towards the investors for their critical backing within a short timeframe. He emphasized that this financing would allow the company to accelerate its clear clinical roadmap for its leading therapeutic programs and activate their discovery engine for future innovative drug candidates.

Expectations Moving Forward

The rapid advancement of AllinkBio's two leading assets is seen as a validation of its ADC platform, with the management team and investors optimistic about upcoming clinical readouts. Tan Hong of Legend Capital noted the impressive execution by the AllinkBio team, anticipating that the clinical progress will continue to add meaningful value to the company's offerings. Meituan Long-Z Investment's Xuejing Guo also articulated excitement over the potential of the AllinkBio platform to bring revolutionary therapies to the market.

About Allink Bio

Founded in 2023, AllinkBiotherapeutics is committed to the discovery and development of original ADCs and multi-specific antibodies tailored for oncology and immunology. With a commitment to leveraging innovative platform capabilities and exceptional R&D efficiency, AllinkBio has swiftly propelled two ADC candidates into global Phase I clinical trials, aiming to transform patient lives worldwide and advance biotechnology in meaningful ways.

For additional inquiries, please contact Allink Biotherapeutics.