Hangzhou Adlai Nortye Biopharma Co., Ltd, a Chinese clinical-stage biopharmaceutical firm that makes immuno-oncology medicines, has raked in $100 million in a Series D round, according to a company statement on Tuesday ... In August last year, Adlai Nortye had completed a similar-sized Series C round funding jointly led by Tigermed and Shanghai-based asset manager Yingke PE with participation from investors such as ICBC’s overseas investment arm ICBC Asset Management, and ATCG Holdings ... The lead investor CMG-SDIC Capital had also co-led over 400 million yuan ($62 million) in a Series C round funding in biopharmaceutical firm Juventas Cell Therapy on July 12.
Hangzhou Adlai Nortye Biopharma Co., Ltd, a Chinese clinical-stage biopharmaceutical firm that makes immuno-oncology medicines, has raked in $100 million in a Series D round, according to a company statement on Tuesday.
CMG-SDIC Capital and existing investor Tigermed were the lead investors in the latest round, while Legend Star and WuXi Biologics’s industry fund also participated. CMG-SDIC Capital is a 10 billion yuan ($1.5 billion) fund jointly launched by China’s State Development & Investment Company, and China Merchants Capital in January 2020.
In August last year, Adlai Nortye had completed a similar-sized Series C round funding jointly led by Tigermed and Shanghai-based asset manager Yingke PE with participation from investors such as ICBC’s overseas investment arm ICBC Asset Management, and ATCG Holdings.
Following the latest investment, Adlai Nortye plans to facilitate the clinical trials of pipeline candidates, roll out new drug research programmes, and extend pipelines and talents.
With headquarters in East China’s Hangzhou and overseas operations in New Jersey, Adlai Nortye focuses on delivering new oncology drugs. Set up in 2004, the firm has a pipeline of ongoing projects from early pre-clinical to phase III stages.
Adlai Nortye’s early-stage investors also include Matrix Partners China, healthcare-focused Alwin Capital, and Yuanming Capital, DT Capital, among others.
The lead investor CMG-SDIC Capital had also co-led over 400 million yuan ($62 million) in a Series C round funding in biopharmaceutical firm Juventas Cell Therapy on July 12.