With its ex-Novartis cancer drug near the finish line, Adlai Nortye raises $97.5M in Nasdaq debut
The Nasdaq is welcoming another company hustling along a late-stage drug, with Adlai Nortye raising $97.5 million from an IPO and a concurrent private placement.
Adlai Nortye licensed its lead program, the PI3K inhibitor buparlisib, from Novartis back in 2018 and has since steered it into a Phase III trial for squamous cell carcinoma of the head and neck. Its second drug, now in Phase Ib, was licensed from Eisai, and the pipeline features one more clinical program and three preclinical ones.
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