Saman­tha Du's Quan Cap­i­tal, Lil­ly Asia back Chi­na's first big kid­ney play

It’s been a good cou­ple years for kid­ney biotechs. Once a bar­ren field, it has since been filled with new com­pa­nies from blue-chip VC firms such as Arch, Ver­sant and Third Rock. Now some top-flight Chi­nese in­vestors are get­ting in on the ac­tion.

Shang­hai-based Ale­bund Phar­ma­ceu­ti­cals an­nounced Mon­day that they raised a $60 mil­lion Se­ries B led by Quan Cap­i­tal, the VC firm from Zai Lab co-founder and CEO Saman­tha Du. Quan joined Lil­ly Asia Ven­tures, which in­cu­bat­ed the com­pa­ny be­gin­ning in 2018, among the new com­pa­ny’s most promi­nent back­ers.

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