Adlai Nortye Raises $100 Million In Series D Financing
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
Adlai Nortye Ltd. (hereinafter referred to as "Adlai Nortye"), a global biopharmaceutical company focused on developing innovative oncology drugs, today announced the completion of a $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 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 Management. "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, an outstanding group of investors, and top-tier pharmaceutical partners to advance the company's pipeline products."