Allorion Therapeutics Launches with $40 Million Series A Financing to Develop Next Generation Targeted Small Molecule Therapeutics

Allorion Therapeutics Launches with $40 Million Series A Financing to Develop Next Generation Targeted Small Molecule Therapeutics

Boston, MA and Guangzhou, China -- Allorion Therapeutics announced the completion of $40M Series A financing. This financing round is led by Qiming Venture Partners and participated by IDG Capital, Octagon Capital, Firstred Capital, and Elikon Venture. Existing investors TF Capital and Med-Fine Capital also participated. Allorion’s focus is on developing novel small molecule drugs against cancer and autoimmune diseases. The proceeds will be used to support Allorion's preclinical projects, IND-enabling studies and IND applications of two drug candidates in China and the United States. Allorion will also increase its investment in its novel screening technologies, and further build out both its clinical and business development teams.

“There are huge unmet medical needs for autoimmune disease and cancer therapy globally. Based on data mining and an in-depth understanding of disease biology, Allorion focuses on the early discovery and development of precision medicines. We have confidence in the team's strong R&D capabilities. We hope to support Allorion to grow into a globally-recognized company and improve patients' life quality,” said Qiming principal Chen Kan.

Allorion ...

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