Chinese biopharma firm Adlai Nortye bags $100m in a Series D round

Hangzhou Adlai Nortye Biopharma Co., Ltd, a Chinese clinical-stage biopharmaceutical firm that makes immuno-oncology medicines, has raked in $100 million in a Series D round, according to a company statement on Tuesday.

CMG-SDIC Capital and existing investor Tigermed were the lead investors in the latest round, while Legend Star and WuXi Biologics’s industry fund also participated. CMG-SDIC Capital is a 10 billion yuan ($1.5 billion) fund jointly launched by China’s State Development & Investment Company, and China Merchants Capital in January 2020.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter