Ready to har­vest its PD-L1, Al­pham­ab re­loads with $60M to nur­ture the bis­pe­cif­ic patch

Al­pham­ab’s $100 mil­lion Se­ries A last No­vem­ber for the on­col­o­gy unit marked its first ven­ture round in al­most 10 years of ex­is­tence. As it turned out, it was al­so a sig­nal that founder and CEO Ting Xu was ready to bring in the cash flow he needs to com­plete the reg­u­la­to­ry jour­ney for his lead check­point in­hibitor and dive in­to the bis­pe­cif­ic project he’s en­vi­sioned for years.

The Suzhou-based com­pa­ny un­veiled its lat­est fi­nanc­ing on Tues­day, in­fus­ing $60 mil­lion in­to pipeline de­vel­op­ment and a po­ten­tial com­mer­cial launch as well as a new R&D and man­u­fac­tur­ing site. Hud­son Bay Cap­i­tal Man­age­ment led the Se­ries B and Adri­an Cheng, the heir of a re­al es­tate em­pire in Hong Kong, par­tic­i­pat­ed along­side ex­ist­ing in­vestors.

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