Adlai Nortye Raises $100M in Series C Funding Round

According to VCBeat, in August 2020, Adlai Nortye, a biomedical company focusing on global research and development of tumor immunotherapy, announced that it had completed a Series C financing round of nearly US$100 million. This round is jointly led by Tigermed and Yingke Capital, with additional support from ATCG Holdings, Shengxin Venture Capital, Puxin Ruiyuan, Hongtu Wuhao and ICBC Asset Management (Global) ("ICBCAMG").

Founded in 2016 and located in Hangzhou, China, Adlai Nortye is committed to developing innovative oncology drugs, facing the global market. The company has established an R&D and clinical operations center in New Jersey, USA. Its core team is all from the management group of top international pharmaceutical companies, with rich product development experience and international vision.

Adlai Nortye has three drug candidates in the clinical stage. The fast-track AN2025 (Buparlisib) approved by FDA is undergoing a multicenter, global phase III study. The global project oncolytic virus AN1004 (Pelareorep), administered intravenously, is also in the multicenter, global phase III study. The global project AN0025 (EP4 antagonist) has completed a phase 1b clinical trial as neoadjuvant therapy for locally advanced rectal cancer, and a phase 1b trial with combination of Keytruda^® for multiple solid tumors is underway in Europe and the US.

Tigermed is a contract research organization providing the whole process clinical trial services for the research and development of pharmaceutical products. Since its inception, the company is dedicated to the provision of medical research and development services that enables clients to reduce the risk and cost of R&D, while advancing the process of marketization.

Founded in 2010, with its headquarters in Fuzhou in China, Yingke Capital is a principal investment firm specializing in pre-IPO investments. It seeks to invest in 5G IoT, biomedical, environmental and facilities services, new energy, consumer upgrade, smart manufacturing and materials sector.