Allink Biotherapeutics raises $42m to transform oncology and immunology treatments

Allink Biotherapeutics, a Shanghai-based clinical-stage biotechnology company, has completed a $42 million Series A funding round to accelerate its pipeline of bispecific antibodies and antibody-drug conjugates (ADCs). This funding will support its global clinical development programs and position the company for rapid expansion in the oncology and immunology sectors.

The financing round was led by Lanchi Ventures, a globally recognized early-stage technology investor, with participation from Yuanbio Venture Capital, Legend Capital, and C&D Emerging Industry Equity Investment. Existing investors Gaorong Ventures and Med-Fine Capital also reaffirmed their commitment, emphasizing confidence in the company’s innovative therapeutic platforms.

Advancing clinical-stage therapies

The proceeds from this funding will enable Allink Biotherapeutics to advance its lead candidates, ALK201 and ALK202, through Phase 1 clinical trials across Australia, the United States, and China. Both drug candidates represent promising breakthroughs in targeted cancer therapies, addressing significant unmet medical needs worldwide.

In addition, the company plans to broaden its pipeline by developing next-generation ADCs and bispecific antibodies while refining its proprietary technology platforms. This strategic focus underscores Allink Biotherapeutics’ ambition to establish itself as a global leader in oncology and immunology therapeutics.

Founder and Chief Executive Officer Hui Feng, Ph.D., highlighted the company’s rapid progress since its inception in 2023, noting that support from both new and existing investors will help achieve key milestones. Dr. Feng described the company’s mission to deliver paradigm-shifting drugs as the driving force behind its ambitious clinical and corporate goals.

Investor confidence underscores growth potential

Lanchi Ventures commended Allink Biotherapeutics’ swift advancement from preclinical to clinical stages, attributing its progress to exceptional execution led by Dr. Feng. They emphasized the company’s strong positioning within the competitive ADC space, particularly in oncology-focused therapeutics.

Gaorong Ventures echoed this sentiment, pointing to the company’s scientific excellence and operational efficiency as key factors in its continued support. Med-Fine Capital, a lead investor from earlier funding rounds, noted that advancing two ADC candidates to clinical trials within such a short time frame is a testament to the team’s dedication and capability.

Driving global expansion

Beyond clinical trials, the new funding will support Allink Biotherapeutics’ efforts to expand its global footprint. The company is focused on building international partnerships and solidifying its presence in key markets. With a robust pipeline and scalable proprietary platforms, Allink aims to bridge gaps in oncology and immunology treatment availability across the globe.

The Series A financing marks a pivotal moment in Allink Biotherapeutics’ evolution, setting the stage for further growth and innovation. With a clear roadmap and the financial resources to execute its vision, the company is poised to make significant contributions to global healthcare advancements.