Chi­nese I/O play­er Ad­lai Nortye wraps $50M Se­ries B; Am­gen touts PhI­II da­ta for Rem­i­cade knock­off

→ Hangzhou-based Ad­lai Nortye has gar­nered $50 mil­lion from some top do­mes­tic back­ers for its vi­sion in build­ing a glob­al im­munother­a­py com­pa­ny in Chi­na. Yuan­ming Cap­i­tal led the Se­ries B round, joined by Ma­trix Part­ners Chi­na, Detong Cap­i­tal and Yahui Pre­ci­sion Med­i­cine Fund. Ad­lai Nortye jumped in­to late-stage stud­ies with an $86.6 mil­lion li­cens­ing deal with a strug­gling On­colyt­ics Biotech, which gave it de­vel­op­ment and com­mer­cial­iza­tion rights to Re­olysin (pelare­o­rep) in Chi­na, Hong Kong, Macau, Sin­ga­pore, South Ko­rea and Tai­wan. Un­der the lead­er­ship of CEO Carl­sten Lu, the 100-plus staffers will now fo­cus on ini­ti­at­ing a Phase III study of Re­olysin in breast can­cer and con­tin­u­ing a Phase Ib tri­al for EP4 an­tag­o­nist AN0025 in sol­id tu­mors. “We are very op­ti­mistic about Ad­lai Nortye’s huge de­vel­op­ment po­ten­tial in the tu­mor im­munother­a­py area,” said Yuan­ming found­ing part­ner Yuan Tian in a state­ment. “We look for­ward to col­lab­o­rat­ing close­ly with Ad­lai Nortye, con­tin­u­ing to sup­port their in­no­va­tion and com­pa­ny growth.”

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