Shang­hai biotech tack­ling kid­ney dis­ease gets an­oth­er round of cash

Four months af­ter a se­cre­tive Shang­hai biotech pulled in $60 mil­lion for a Se­ries B round, it’s re­turn­ing to the fore with a lit­tle more cash.

Ale­bund Phar­ma­ceu­ti­cals closed a $54.5 mil­lion round it’s de­scrib­ing as “Se­ries B+,” the com­pa­ny an­nounced Mon­day evening, aim­ing to fur­ther ad­vance its kid­ney dis­ease pro­grams. Funds will go to­ward two clin­i­cal as­sets as well as the con­struc­tion of a man­u­fac­tur­ing site, Ale­bund said in a re­lease.

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