Allink Biotherapeutics Raises $47M to Propel Clinical Advancements and Innovative Drug Platforms

Allink Biotherapeutics Secures $47 Million in Funding

Allink Biotherapeutics, Inc. (AllinkBio), a clinical-stage biotech company specializing in antibody-drug conjugates (ADCs), has recently announced the successful completion of its extension rounds of Series A financing, raising a total of $47 million. This round was led by Legend Capital and new investor Meituan Long-Z Investment, with participation from various other notable investors such as Lanchi Ventures and 5Y Capital. The significant capital infusion will aid AllinkBio in advancing its clinical programs and fostering the development of novel therapy platforms.

Strengthening Clinical Development

The main focus of this funding is to bolster the global clinical trials for AllinkBio's two leading therapeutic candidates, ALK201 and ALK202. ALK201 is positioned as a potential first-in-class FGFR2b-targeted ADC, showing promising efficacy signals in a range of tumor types along with a favorable safety profile. This positions it as a backbone therapeutic option for solid tumors that overexpress FGFR2b. Meanwhile, ALK202, a bispecific ADC targeting EGFR and cMET, is under evaluation for its potential as a cornerstone treatment for non-small cell lung cancer. Preliminary clinical data have been encouraging, paving the way for further investigations into its effectiveness across various biomarker-defined tumor types and patient demographics.

In line with these advancements, AllinkBio is utilizing a biomarker-guided strategy, aiming to establish the efficacy of its therapies across a broader spectrum of solid tumors. In the short term, the company is set to initiate combination therapy studies, which will explore the therapeutic potential of its lead candidates in first-line treatment scenarios. This strategy is anticipated to facilitate the readiness of ALK201 and ALK202 for pivotal trials, enhancing their competitive profiles in the target indications.

Innovative Technology Platforms

Besides its focus on ADCs, AllinkBio is also initiating the development of a proprietary masked T-cell engager (TCE) platform designed for solid tumors. The company is dedicated to innovating in the immunology domain with a range of first-in-class bi- and multi-specific antibody candidates. These programs, driven by a biology-first approach, aim to provide novel solutions for patient populations that are underserved by existing therapies.

Dr. Hui Feng, the founder and CEO of AllinkBio, expressed gratitude towards the investors for their swift and continuous support. He emphasized that this funding not only propels clinical programs forward but also activates AllinkBio's discovery engine to innovate drug candidates that could significantly enhance patient outcomes in the near future.

Investor Confidence

Tan Hong, Managing Director at Legend Capital, reaffirmed their commitment, attributing their backing to AllinkBio's strategic development approach and the efficient execution by its team. The rapid progression of the company's two leading assets is seen as strong validation of its ADC platform, promising substantial value creation.

In a similar vein, Xuejing Guo, Managing Director and Head of Healthcare at Meituan Long-Z Investment, noted the unique blend of AllinkBio's international perspective and operational excellence, which together contribute to its swift advancements in the ADC sector. Guo expressed enthusiasm over helping AllinkBio transition its innovative ideas into global healthcare solutions aimed at improving the lives of patients worldwide.

Future Goals

Established in 2023, AllinkBio is dedicated to revolutionizing the fields of oncology and immunology through its advanced ADC and multi-specific antibody technologies. The company is on track to lead two ADC candidates into global Phase I clinical trials, demonstrating its agile research and development capabilities. With the backing of its investors, AllinkBio is set to continue its mission of delivering groundbreaking therapies that address unfulfilled needs in the patient community across the globe.

For further information, AllinkBio can be contacted through their corporate communication channels.