Lynk Pharmaceuticals Secures $50M Series B Financing to Advance Global Clinical Pipeline and Expand Innovative Drug Discovery

Hangzhou, China, August 27, 2021 -- LinkMed Pharmaceuticals (Hangzhou) Co., Ltd. (“LinkMed”), an innovative drug R&D company, announced today the successful completion of its $50 million Series B financing round. The round was led by Lilly Asia Ventures, with participation from Shanghai New Alliance Investment Management Ltd. and the Hangzhou Heda Biopharmaceutical Industry Fund. Existing investors Legend Capital and Med-Fine Capital also increased their investments. The proceeds will be primarily used to advance multiple projects in LinkMed’s pipeline through Phase I and II clinical trials, expand international business collaborations, and support preclinical development of new projects. China Renaissance served as the exclusive financial advisor to LinkMed in this transaction.

Lingke Pharmaceuticals, established in 2018, is a globally leading innovative drug developer. Leveraging the team’s world-class expertise in medicinal chemistry and small-molecule clinical development, the company is dedicated to developing first-in-class (FIC) or best-in-class (BIC) small-molecule therapeutics for autoimmune diseases, inflammation, and cancer. Within three and a half years of its founding, Lingke Pharmaceuticals obtained Investigational New Drug (IND) approvals from both Chinese and U.S. regulatory authorities for three proprietary candidates, successfully advancing their global clinical development. In 2020, the company out-licensed the overseas development rights of one asset to a U.S. pharmaceutical company, securing upfront and milestone payments totaling nearly USD 200 million. Additionally, it licensed in a potential global first-in-class RAS-targeting project from Kobe University and the RIKEN Institute in Japan.

Dr. Wan Zhaokui, Chairman and CEO of LinkCare Pharmaceuticalsstated, “We are deeply grateful for the recognition and support from top-tier investors in the industry. Since its inception, the team at Lingke Pharma has consistently driven project advancement with high execution efficiency, achieving significant progress within just three and a half years. This round of financing will lay a solid foundation for our further development and expansion of our innovative product pipeline. I am confident that, through the joint efforts of numerous scientists and researchers, we will be able to bring more innovative therapies to patients at an early date.”

Dr. Ting Feng, Vice President at Lilly Asia Ventures (LAV)stated: “We are deeply impressed by the efficient execution capabilities and global vision of LinkCare Pharmaceuticals’ management team. We also hold a strong positive outlook on the substantial market potential and unmet patient needs in the fields of autoimmune diseases and oncology. We look forward to LinkCare Pharmaceuticals leveraging its innovative capabilities to achieve further breakthroughs and success in the future.”

Cai Lei, Managing Director of New Alliance Capital“Small-molecule drugs hold tremendous potential in the fields of oncology and autoimmune diseases. We are deeply impressed by LinkHealth’s global vision and its team’s strong execution capabilities. We are delighted to have the opportunity to collaborate with LinkHealth. In the future, New Alliance Capital will provide robust support across various dimensions, including capital and industry resources. We are committed to supporting the company in becoming a global leader, delivering more effective solutions, and benefiting patients worldwide.”

Dr. Zhang Xiao, Partner at China Renaissance CapitalStatement: Link Therapeutics is a global leader in small-molecule drug development. We have strong confidence in the Link team’s exceptional R&D capabilities, the company’s highly innovative and differentiated pipeline, and its best-in-class execution ability. We are honored to have assisted the company in closing this round of financing and look forward to more R&D breakthroughs that will benefit patients worldwide.

LinkGene Therapeutics, founded in 2018 by seasoned drug R&D experts and executives from Pfizer, Merck, and Johnson & Johnson, is a clinical-stage biopharmaceutical company dedicated to discovering and developing innovative therapies for cancer, immune-mediated, and inflammatory diseases. Driven by a higher purpose, LinkGene Therapeutics aims to become a market leader by addressing unmet clinical needs through the development of novel treatments. To date, the company has developed multiple Class 1 innovative drugs through independent R&D and has initiated multiple global clinical trials, either independently or in collaboration with international partners.

Lilly Asia Ventures (LAV) is a leading venture capital fund in the life sciences and healthcare sectors, with offices in Shanghai, Hong Kong, and Silicon Valley, USA. As one of the earliest biopharmaceutical-focused funds to establish a presence in China, LAV has been continuously investing in the Chinese healthcare industry for over a decade. LAV’s long-term vision is to build great companies that overcome diseases and improve human health through breakthrough products, and to serve as a trusted partner for outstanding entrepreneurs seeking smart capital.

Shanghai New Alliance Investment Management Ltd. (New Alliance Capital) was established in 2008. It manages multiple funds with total assets under management exceeding RMB 12 billion. Its primary investors include renowned state-owned enterprise groups, professional fund-of-funds, government guidance funds, and listed companies. With value-added services as its core competency, the firm’s core team members possess extensive investment and management experience in areas such as the restructuring of state-owned enterprises, private venture capital, and the localization of multinational corporations. To date, it has completed nearly 100 investments, with more than 30 portfolio companies having achieved IPOs or listings on domestic and international exchanges, thereby cultivating a cohort of industry leaders.

Hangzhou Heda Industrial Fund Investment Co., Ltd. focuses on partnering with renowned domestic and international investment institutions in vertical industry sectors, jointly establishing 27 sub-funds with a total scale of RMB 18 billion. The Heda Biopharmaceutical Industry Fund, affiliated with Hangzhou Heda Industrial Fund Investment Co., Ltd., has completed three phases of fundraising. It has invested in 17 projects, including Duoxi Bio, Mingfeng Medical, and I-Mab Biopharma, with nearly half of these portfolio companies listed on the 2020 Hangzhou Quasi-Unicorn List.

China New Economy Investment Bankers: A Leader in TMT, Consumer, and Healthcare SectorsCCB International is a leading investment bank in China’s new economy sector, focusing on three major industries globally: TMT (Technology, Media, and Telecom), consumer goods, and healthcare. In addition to its investment banking services, CCB International manages one RMB-denominated fund and one USD-denominated fund. The firm has branch offices in Beijing, Shanghai, Los Angeles, and San Francisco, and holds a license for the U.S. securities market. The healthcare industry is a key focus area where CCB International possesses significant strengths. Moreover, CCB International boasts the largest, most professional, and most comprehensively integrated investment banking team dedicated to the health industry in China.