Allorion Therapeutics, a Boston, MA- and Guangzhou, China-based biotech company focusing on medicine for oncology and autoimmune diseases, raised $50M in Series B funding.
The round was led by Ince Capital and Qiming Venture Partners, with participation from TF Capital, Long River Investment (LRI), 3SBio, Octagon Capital, and Elikon Venture.
The company intends to use the funds to advance upcoming Phase I/II clinical trials in both China and the U.S. and the identification of clinical candidates for additional programs, and its established and validated early discovery platform technologies, including an allosteric inhibitor screening platform and a platform for discovery of synthetic lethality targets and molecules, and further build clinical development and business development teams.
support upcoming Phase I/II clinical trials in both China and the U.S. and the identification of clinical candidates for additional programs.
Led by CEO Peter Ding, Allorion Therapeutics is a clinical-stage biotech company focusing on precision medicine for oncology and autoimmune diseases. The company has advanced two small molecules to the IND stage. ARTS-011, whose IND has been filed in China in recently, is an allosteric inhibitor targeting the TYK2 pseudokinase domain used to treat autoimmune diseases such as psoriasis and lupus. ARTS-021, with its IND to be filed in the U.S. and China shortly, is a potent CDK2 isoform selective inhibitor for treatment of solid tumors such as ovarian, endometrial, and breast cancer. Allorion has a total of 53 full-time employees in China and the U.S., including 15 executive team members with an average of 15 years of experience in top pharmaceutical and/or biotech companies.
Since its establishment in July 2020, the company has raised over $100M from institutional biotech investors.