Allink Biotherapeutics has completed USD 42 million Series A financing.

The financing round was led by Lanchi Ventures, a preeminent global early-stage technology investor known for backing breakthrough innovations, with participation from an elite syndicate of new investors including Yuanbio Venture Capital, Legend Capital and C&D Emerging Industry Equity Investment, alongside strong support from existing shareholders Gaorong Ventures and Med-Fine Capital.

"Since our company's inception a little over a year ago, AllinkBio has rapidly advanced from lead asset PCC to clinical development stage," said Hui Feng, PhD, Founder and Chief Executive Officer of AllinkBio.

"We are grateful for the continued support from existing shareholders and delighted to welcome new investors who recognize both our scientific excellence and capability of translating scientific findings into clinical applications. Their support enables us to accelerate the development of our diverse pipeline spanning multiple modalities including next-generation ADCs and bispecific antibodies targeting oncology and immunology diseases. Looking ahead, we are poised to achieve multiple pipeline milestones in the coming months as we pursue our long-term mission of bringing innovative therapeutics to patients with significant unmet medical needs," Feng added.

"AllinkBio's exceptional execution speed and quality in advancing its lead program from preclinical to clinical stage, led by Dr. Feng, one of the leading figures in China's biopharmaceutical industry, demonstrates the company's high competitiveness in the field. AllinkBio's innovative approach to ADC development presents a compelling opportunity in the targeted oncology therapeutics space," said Lanchi Ventures.

"Our continued investment in AllinkBio reflects our strong conviction in the company's scientific excellence and execution capabilities. Since our initial investment, we have been impressed by the company's rapid advancement in both platform development and pipeline progression. We are excited to strengthen our commitment through this Series A financing," said Jiangtao Yu, PhD, Managing Director at Gaorong Ventures.

"We are delighted to have witnessed the fast and steady development of AllinkBio. Dr. Feng and his team's dedicated work in progressing two highly promising ADC drug candidates into clinical stage within one and a half years since company inception has been really impressive. We believe the company has great potential and will continuously support its endeavor in developing innovative drugs for patients in need globally," said Angel Round lead investor Vince Deng, PhD, Partner of Med-Fine Capital.