Adlai Nortye Raises Nearly $100 Million in Series C Financing to Accelerate Global Development of Innovative Oncology Immunotherapies
VCBeat (WeChat ID: vcbeat) has learned that in August 2020, Adlai Nortye Biopharma, a biopharmaceutical company dedicated to the global R&D of tumor immunotherapy, announced that it had previously completed a Series C financing round of nearly $100 million. The round was co-led by Tigermed and Wincore Capital Management, with participation from ATCG Holdings, Shengxin Venture Capital, Puxin Ruiyuan, Hongtu No. 5, and a fund under ICBC Asset Management Global.
Adlai Nortye Biopharma, restructured and established in Hangzhou, China in 2016, operates R&D and clinical operations centers in New Jersey, USA. Positioned to develop novel oncology drugs with global first-in-class potential, the company targets the global market and engages in worldwide innovation. Its core team comprises executives from top international pharmaceutical companies, bringing extensive product development experience and a global perspective.
Currently, Adlai Nortye Biopharma has established a product pipeline with international competitiveness, covering three clinical-stage candidates and multiple preclinical candidate drugs, and has achieved several significant milestones:
AN2025（buparlisib）Buparlisib is an oral pan-PI3K inhibitor that targets all Class I PI3K isoforms. In its global Phase II clinical trial for the treatment of head and neck squamous cell carcinoma (HNSCC), patients achieved a median overall survival of 10.4 months, earning U.S. FDA “Fast Track” designation. Currently, the global multicenter Phase III clinical trial of buparlisib for HNSCC has been launched, marking Adlai Nortye Biopharma’s first large-scale global Phase III clinical study.
AN0025It is a highly active and selective oral E-type prostanoid receptor 4 (EP4) antagonist, with the potential to become a “first-in-class” cancer immunotherapy drug. The Phase Ib clinical trials in Europe and the United States, evaluating its use as a neoadjuvant therapy for locally advanced rectal cancer, have been completed, with data presented at the 2019 ESMO Congress. Nearly 40% of patients either did not require surgery or achieved pathological complete response in postoperative specimens. Meanwhile, the Phase Ib clinical trial in Europe and the United States evaluating AN0025 in combination with Merck’s KEYTRUDA® for the treatment of various locally advanced/metastatic solid tumors has completed dosing of the first subject.
AN1004（pelareorep）It is an oncolytic virus product administered via intravenous injection, with development potential in the treatment of various cancers and in combination with chemotherapy and immune checkpoint inhibitors. It has taken the lead in completing Phase 2 clinical trials in Europe and the United States for the treatment of breast cancer and has received “Fast Track” designation from the U.S. FDA. An open-label, randomized, multicenter Phase 3 clinical trial of pelareorep in combination with paclitaxel for the treatment of advanced/metastatic breast cancer is currently being initiated.
In terms of preclinical research, Adlai Nortye Biopharma has accumulated a portfolio of preclinical candidate drugs, represented by AN4005 (oral PD-L1) and AN3025 (TNFR2 antibody).
“We are delighted that this financing has garnered recognition and support from several renowned investment institutions in the biopharmaceutical sector, which will further bolster our clinical development efforts,” said Lu Yang, Chairman and CEO of Adlai Nortye Biopharma. “We look forward to working with our investors to accelerate the R&D of first-in-class drugs with international competitiveness, address unmet clinical needs, and transform cancer into a non-fatal disease or even achieve a cure.”
Dr. Ye Xiaoping, Chairman of Tigermed, stated, “China is experiencing a major wave of innovative drug development. Adlai Nortye’s global strategic vision for innovation and its product pipeline were key reasons for our investment. We look forward to close collaboration between both parties to accelerate the clinical development of Adlai Nortye’s products and bring next-generation immuno-oncology therapies to the global market as soon as possible.”
Adlai Nortye is a clinical-stage global biopharmaceutical company dedicated to the global R&D of first-in-class novel drugs, positioning itself as a pioneer in developing “global-first” oncology therapeutics. Currently, it has three drug candidates in clinical development: AN2025 (buparlisib), which has received FDA Fast Track designation and is undergoing a global multicenter Phase 3 clinical trial; AN1004 (pelareorep), an oncolytic virus administered via intravenous injection with one of the fastest global development timelines, also in a global multicenter Phase 3 clinical trial; and AN0025 (an EP4 antagonist), a potential first-in-class cancer immunotherapy that has completed Phase 1b clinical trials in Europe and the U.S. as a neoadjuvant treatment for locally advanced rectal cancer, while Phase 1b clinical trials in Europe and the U.S. evaluating its combination with Keytruda® for the treatment of various solid tumors are ongoing.
Tigermed, established in 2004, specializes in providing comprehensive contract research organization (CRO) services for the entire clinical trial process of new drug development. Through initiating and participating in equity investment funds, Tigermed invests in innovative biopharmaceutical and medical device startups, offering them financial support and integrated R&D solutions for their ongoing projects. Its biopharmaceutical investment portfolio includes companies such as Yahong Medicine, Zerun Biotechnology, Prescient, and Tongli Biologics.
Yingke Capital, established in 2010, was among the first institutions to file with the Asset Management Association of China (AMAC). Aligning with national strategic priorities, the firm focuses on investing in leading enterprises within the science and technology innovation sector. It has invested in more than 60 biopharmaceutical companies possessing core technologies, flagship products, and capabilities to fill market gaps, thereby becoming one of the investment institutions with the highest number of IPOs in China.