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Allink Biotherapeutics Raises $47 Million for Clinical Advancement

Allink Biotherapeutics, Inc. (AllinkBio), a clinical-stage biotechnology firm focused on cutting-edge antibody-drug conjugates (ADCs) and multi-specific antibody therapies for oncology and immunology, recently announced the successful completion of its additional Series A funding rounds, raising a total of $47 million. This significant round of investment was spearheaded by Legend Capital, an existing supporter of the company, alongside Meituan Long-Z Investment, a new investor, along with participation from several notable investors including Lanchi Ventures, Yuanbio Venture Capital, 5Y Capital, Lapam Capital, and Runzhang Venture Capital.

Progressing with Clinical Development

The funds gathered from this fundraising effort will be instrumental in advancing the global clinical development of AllinkBio's two leading product candidates. The first, ALK201, is an ADC targeting FGFR2b, and it stands out as a potential first-in-class treatment. Preliminary results have shown promising efficacy across various tumor types, boasting a favorable safety profile, which supports its development as a foundational treatment for solid tumors that overexpress FGFR2b.

Simultaneously, early clinical data for ALK202 have reinforced the potential of this bispecific ADC targeting EGFR/cMET for non-small cell lung cancer (NSCLC) treatment. AllinkBio is also expanding its clinical program to include a broader range of tumor types and patient populations defined by specific biomarkers.

AllinkBio’s strategy integrates biomarker-guided development, aiming to demonstrate efficacy across a wide spectrum of solid tumors. The company plans to initiate combination therapy studies in the near term to further explore the therapeutic potential of these products among larger first-line patient populations. These initiatives are expected to accelerate the preparatory phase for pivotal trials of ALK201 and ALK202 while ensuring a distinct competitive profile in their respective target indications.

Innovating New Therapeutic Platforms

In addition to their ADC technology, AllinkBio is developing a proprietary T cell engagement (TCE) platform aimed at enhancing the application of TCE in solid tumors. On the immunology front, the company is advancing a portfolio of leading bi- and multi-specific antibody drug candidates designed to cater to patient populations underserved by current treatment standards. These programs are grounded in rational biological design, striving to deliver next-generation solutions.

Hui Feng, Ph.D., founder and CEO of AllinkBio, stated, "We sincerely appreciate the decisive and continuous support from our investors in such a short timeframe. With this backing, we are moving forward with a clear clinical roadmap to expedite our primary programs. Beyond our two flagship initiatives, our discovery engine is fully activated, ready to deliver a new wave of innovative drug candidates that will create additional value in the foreseeable future."

Tan Hong, General Manager of Legend Capital, emphasized, "Our continued support is justified by our confidence in AllinkBio's effective team and solid development strategy. The rapid clinical advancement of its two leading competitive products already serves as strong validation for the company’s ADC platform and demonstrates significant value. We look forward to the short-term clinical results and are excited to see more innovative programs emerge from its discovery platforms."

Xuejing Guo, General Manager and Head of Healthcare at Meituan Long-Z Investment, remarked, "The AllinkBio team combines an international mindset with first-rate execution, establishing an outstanding pace in the ADC field. We are deeply impressed with the potential of their technological platform and are eager to assist the team in translating these original innovations into a global impact, providing life-changing treatments for patients around the world."

About Allink Biotherapeutics

Founded in 2023, AllinkBio is dedicated to the discovery and development of differentiated ADCs and multi-specific antibodies for oncology and immunology. Leveraging a synergy of innovative platform capabilities and exceptional research and development efficiency, the company has swiftly advanced two ADC candidates to global Phase I clinical trials. AllinkBio is committed to pushing the boundaries of ADC innovation and multi-specific antibody therapies to transform patient lives worldwide.