A Chi­nese I/O biotech look­ing to turn around an old No­var­tis pro­gram gets a new fundraise af­ter launch­ing PhI­II study

Close to a year af­ter pulling in its last pri­vate fundraise, Chi­nese im­muno-on­col­o­gy biotech Ad­lai Nortye is back with an­oth­er nine-fig­ure round. And it comes as it seeks to con­tin­ue push­ing for­ward a for­mer ex­per­i­men­tal No­var­tis ther­a­py.

Ad­lai Nortye raised $100 mil­lion in a Se­ries D, the biotech an­nounced Thurs­day, rough­ly 10 months af­ter a Se­ries C of the same amount. In ad­di­tion to ad­vanc­ing its pipeline and fur­ther­ing R&D, Ad­lai Nortye said some of the funds could be used for “merg­ers and ac­qui­si­tions and oth­er strate­gic col­lab­o­ra­tions.”

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