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Pharma Tech Outlook | Tuesday, July 27, 2021
Adlai Nortye completes a $100 million Series D fundraising deal.
FREMONT, CA: Adlai Nortye Ltd., a worldwide biopharmaceutical firm focused on developing novel oncology treatments, closes a $100 million Series D fundraising deal. This financing round is co-led by SDIC Fund Management and Tigermed. It includes Legend Star, Wuxi Biologicals Healthcare Ventures, Triwise Capital, Qingdao Mukui, Guolian Industrial Investment, Tian Ge Interactive. The money will be used to expedite the development of ongoing clinical and preclinical initiatives and extend the company's therapeutic portfolio through in-house research and development, in-licensing, mergers and acquisitions, and other strategic collaborations.
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"We intend to develop differentiated and innovative oncology drugs globally to address the unmet medical needs and aspire to transform the deadly cancer into a chronic and eventually a curable disease," says 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," says DazhongLv, 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, the partner of Legend Star, adds, "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, outstanding group of investors and top-tier pharmaceutical partners to advance the company's pipeline products."
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