Allorion Therapeutics Secures $40 Million Series A Financing Led by Qiming Venture Partners to Advance Next-Generation Precision Medicines for Oncology and Autoimmune Diseases

Allorion Therapeutics Announces Completion of $40 Million Series A FinancingAllorion Therapeutics (Guangzhou) Co., Ltd. (hereinafter referred to as “Allorion Therapeutics”) announced the completion of its $40 million Series A financing round. The round was led by the internationally renowned investment firm Qiming Venture Partners, with participation from IDG Capital, Octagon Capital, Chenyi Investment, and Lichen Investment. Existing investors TF Capital and Med-Fine Capital continued their support. This marks another instance of Allorion Therapeutics receiving backing from multiple prominent investment institutions since its official establishment and completion of Pre-Series A financing in July 2020.

This round of financing will be used to support preclinical research and Investigational New Drug (IND) applications in both China and the United States for Allorion Therapeutics’ multiple small-molecule new drug projects, as well as to continue refining and strengthening its systematic screening platform for allosteric inhibitors and validating its target and small-molecule discovery platform based on synthetic lethality mechanisms. Allorion Therapeutics will also leverage the substantial funding to further build a more comprehensive technical and management team, with a particular focus on establishing clinical and business development teams in both China and the United States.

Allorion Therapeutics is a next-generation precision medicine company dedicated to the research and development of novel small-molecule drugs for the treatment of oncology and autoimmune diseases. The company is committed to leveraging its team’s R&D innovation capabilities, international high-standard project selection and execution, and a high-quality product pipeline to gain global recognition and extensive collaboration opportunities.

Allorion Therapeutics’ founding team comprises scientists and serial entrepreneurs with an average of over 15 years of R&D and management experience at top-tier international pharmaceutical companies or biotech firms. The company has already established a senior technical and management team in both China and the United States, consisting of more than 12 full-time seasoned experts.

Leveraging recent technological advancements in protein structure analysis, big data mining, machine learning, and gene editing, the company is dedicated to the systematic development of novel small-molecule inhibitors with high specificity and selectivity for well-validated targets, including but not limited to covalent and allosteric small molecules. Notably, Allorion Therapeutics possesses a unique synthetic lethality screening platform to discover and validate more reliable novel targets, thereby expanding the landscape for targeted therapies and laying a solid foundation for long-term growth, ultimately enabling more patients to benefit from precision medicine.

Ding Qiang, Founder and CEO of Allorion Therapeutics, stated, “Over the past year, Allorion Therapeutics has established R&D laboratories in both Boston, USA, and Guangzhou, China, rapidly recruited and built a robust R&D team, and advanced its projects to achieve multiple milestone objectives. This round of financing reflects investors’ recognition of these achievements, their support for the company’s strategy of actively engaging in international competition, and their confidence in the team’s ability to pursue highly innovative projects and technology platforms to ensure sustainable growth.”

Regarding the successful completion of Series A financing in a short period despite the company being established for just over a year, Ding Qiang further stated, “We sincerely thank the new top-tier professional investment institutions that participated in the Series A round, as well as our existing investors, for their recognition and support of Allorion Therapeutics. We will continue to uphold our science- and data-driven R&D strategy and maintain high execution efficiency, dedicating our full efforts to advancing innovative small-molecule drugs into clinical studies to address unmet clinical needs and benefit patients. As a next-generation precision medicine company, Allorion Therapeutics will fully leverage breakthroughs enabled by new technologies, striving to make precision medicine more accurate and more widely accessible.”

Chen Kan, Executive Director at Qiming Venture Partners, stated, “There is a substantial unmet need for autoimmune disease and oncology therapeutics in China and globally. Allorion Therapeutics focuses on the early stages of R&D, developing precision medicine solutions grounded in big data mining and a deep understanding of disease biology. The company boasts strong in-house R&D capabilities, a top-tier team, and extensive industry experience, which gives us great confidence. We hope this round of investment will support the company’s growth into a globally competitive new drug developer, thereby improving the quality of life for patients in China and around the world.”

Qiming Venture Partners was established in 2006 and has successively set up offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston, and the San Francisco Bay Area. Currently, Qiming Venture Partners manages ten U.S. dollar funds and six RMB funds, with total assets under management reaching $6.2 billion. Since its inception, the firm has focused on investing in outstanding early- and growth-stage companies in sectors such as TMT and Healthcare. To date, Qiming Venture Partners has invested in more than 430 high-growth innovative enterprises, among which over 170 have exited through listings on exchanges including the New York Stock Exchange (NYSE), NASDAQ, the Hong Kong Stock Exchange (HKEX), the Taipei Exchange (TPEx), the Shanghai Stock Exchange (SSE), and the Shenzhen Stock Exchange (SZSE), as well as through mergers and acquisitions. More than 40 of these portfolio companies have become industry-recognized unicorns and super unicorns.