Chinese biotech startup Allink Biotherapeutics, which counts China’s publicly listed Junshi Biosciences among its angel investors, has closed a $42-million Series A round to fund the global clinical studies of its pipeline products, it announced on Thursday.
The Series A round was led by early-stage venture capital (VC) company Lanchi Ventures, formerly known as BlueRun Ventures China (BRV China), with the participation of Chinese healthcare-focused Yuanbio Venture Capital and asset management firm C&D Emerging Industry Equity Investment.
Shanghai-based Allink, founded in 2023, will use the new funding to advance the Phase I clinical studies of two core pipeline products ALK201 and ALK202 in China, Australia, and the US.
The startup is developing a pipeline of first-in-class or best-in-class therapeutic candidates for oncology and immune diseases by leveraging proprietary bispecific antibody and antibody-drug conjugate (ADC) technology platforms.
The new investment came more than one year after Allink signed agreements with Hong Kong and Shanghai-listed biopharmaceutical firm Junshi and another four investors in September 2023 to raise nearly $23.5 million for its angel round, according to a stock exchange filing by Junshi.
A more recent filing by Junshi shows that its shareholding position in Allink stood at 11.6% as of January 30, while Dr. Feng Hui, Allink’s founder and CEO, directly held a 46.39% stake. Feng was previously the chief operating officer (COO) of TopAlliance Biosciences, a Junshi subsidiary.
