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NEW JERSEY and HANGZHOU, CHINA, July 15, 2021 - (ACN Newswire) - Adlai Nortye Ltd. (hereinafter referred to as "Adlai Nortye"), a global biopharmaceutical company focused on developing innovative oncology drugs, today announced the completion of $100 million Series D financing round. Co-led by SDIC Fund Management and Tigermed, this round of financing is participated by Legend Star, Wuxi Biologicals Healthcare Ventures, Triwise Capital, Qingdao Mukui, Guolian Industrial Investment, Tian Ge Interactive, etc. Proceeds from the financing will be used to accelerate the development of ongoing clinical and preclinical programs, expand drug portfolio through in-house R&D capability, in-licensing, mergers and acquisitions and other strategic collaborations.
"We intend to develop differentiated and innovative oncology drugs globally to address the unmet medical needs and aspire to transform the deadly cancer into a chronic and eventually a curable disease," said Carsten Lu, President and CEO of Adlai Nortye. "This round of financing represents an important milestone for Adlai Nortye, and we are honored to continue gaining support from our prestigious new and existing investors as Adlai Nortye has demonstrated a proven track record of delivering what we promised to the market and investors in the previous rounds. We are well-positioned to advance the development of our robust therapeutics pipeline and looking forward to bringing in more and more innovative treatments benefiting patients globally."
"We have strong conviction in innovation and paying close attention to what is trending in the biopharmaceutical industry," said Dazhong Lv, Managing Director of SDIC Fund Managemengt. "Adlai Nortye's strategic vision in global market, dedication to innovation in research and strong execution capability are what have been attracting us. We are pleased to have the opportunity to lead Adlai Nortye's D round and look forward to the development of multiple first-in-class drugs from the company's innovative pipeline globally and in China."
Yan Leng, partner of Legend Star added, "Adlai Nortye is quickly emerging as a leader in the field of oncology and we are delighted to have invested in Adlai Nortye and provided support for the R&D of the company's promising pipeline. Combining innovative research and advanced clinical assets with proven management experience, Adlai Nortye has built an exciting portfolio filled with opportunities. We are excited to join such an experienced and proven management team, outstanding group of investors and top-tier pharmaceutical partners to advance the company's pipeline products."
About Adlai Nortye
Adlai Nortye is a global clinical-stage biopharmaceutical company focused on innovative oncology drugs, with its R&D and global clinical operation centers in both China and the United States. With a strategic emphasis on oncology, the Company has built a global pipeline through collaborations and internal discoveries with more than 10 drug candidates in development. Currently, four of them are being investigated in clinical trials. The FDA Fast Track-designated AN2025 (Buparlisib) is undergoing a global multicenter Phase III clinical trial. AN1004 (Pelareorep), an FDA Fast Track-designated intravenously-administered oncolytic virus, has completed a Phase II clinical trial. Oral EP4 antagonist AN0025 (Palupiprant) has completed Phase 1b trial in a neoadjuvant setting in locally advanced rectal cancer and is undergoing Phase 1b trial in combination with Keytruda in patients with multiple solid tumors. AN4005, the internally discovered oral small molecule PD-L1 inhibitor, is currently in Phase I clinical trial in the U.S.
The Company has assembled a world-class leadership team, built its unique immuno-oncology platforms, and established strategic collaborations with multiple global leading biopharmaceutical companies, such as Novartis, Merck, Eisai, Oncolytics Biotech, etc. Adlai Nortye is committed to becoming an innovative biopharmaceutical company with a global vision and strives to bring more effective treatments to patients in China and worldwide. The Company shoulders the mission of transforming cancer into a non-fatal disease or even a cure. For more information, please visit: www.adlainortye.com.
About SDIC Fund Management
Established in July 2009, SDIC Fund Management Corporation Limited is an independent, professional private equity company. It currently manages and advises more than RMB 50 billion of capital for a wide range of institutional investors including financial institutions, social security funds, and state-owned and private capital. SDIC Fund Management Corporation Limited is one of the largest professional private equity fund managers in China.
About Tigermed
Tigermed (Stock code: 300347.SZ/3347.HK) is a leading provider of innovative clinical research solutions across the full life cycle of biopharmaceutical and medical device products globally. With a broad portfolio of services and a promise of quality, from clinical development to commercialization, we are committed to moving our customers and patients through their development journey efficiently and cost-effectively. Tigermed currently represents a worldwide network of more than 60 subsidiaries and 150 offices and sites, with over 6,400 employees across 38 countries in Asia Pacific, Europe, North & South America and Africa. We are devoted to building an integrated platform that enables boundless possibility for the healthcare industry, embracing challenges to fulfill our commitment to serve unmet patients' needs, and eventually saving lives.
About Legend Star
Founded in 2008 as an angel investor, Legend Star is managing 7 early-stage funds with a total commitment of up to RMB 3.5 billion. By the end of 2020, it has made about 300 new name investments in cutting-edge technology, TMT and healthcare / pharmaceutical sectors.
About Wuxi Biologics
WuXi Biologics (stock code: 2269.HK), a Hong Kong-listed company, is a leading global open-access biologics technology platform offering end-to-end solutions to empower organizations to discover, develop, and manufacture biologics from concept to commercial manufacturing. The company's history and achievements demonstrate its commitment to providing a truly one-stop service offering and strong value proposition to its global clients.
The company is currently conducting (as of March 22, 2021) a total of 361 integrated projects: 190 in pre-clinical development; 137 in early-phase (phase I and II) clinical development; 32 in late-phase (phase III) development; and 2 in commercial manufacturing. With a total estimated capacity at around 430,000 liters for biopharmaceutical production planned by 2024 in China, Ireland, the U.S., Germany, and Singapore, WuXi Biologics will provide its biomanufacturing partners with an even more robust and premier-quality global supply chain network.
WuXi Biologics views Environmental, Social, and Governance (ESG) responsibilities as an integral component of its ethos and business strategy and has established an ESG committee led by the CEO to increase efficiency while advancing commitment to sustainability. For more information about WuXi Biologics, please visit: www.wuxibiologics.com.
Topic: Press release summary
Source: Adlai Nortye
Sectors: BioTech, Healthcare & Pharm
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From the Asia Corporate News Network
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