Affinity (Shanghai), the parent company of Shanghai Affinity Biopharmaceutical Co., Ltd., has reportedly raised upwards of RMB 400 million (USD 55 million) in a Series B2 financing round. The funding was led by CMG-SDIC Fund, with contributions from China Growth Capital, Hong Cheng Investment, and others. The proceeds will be utilized to bolster the research and development of Affinity’s technology platform and drugs, addressing the urgent clinical demands in the oncology sector.
Investment in Affinity Bio’s Innovative Drug Conjugate Technology Platform
Affinity Bio boasts a self-described world’s first and unique multi-specific intelligent drug conjugate technology platform that is activated exclusively in the tumor microenvironment. This innovative approach has led to the development of over 20 innovative drug candidates targeting tumors and other severe illnesses. The company’s focus on precision medicine and smart drug delivery systems positions it at the forefront of oncology treatment advancements.
Meeting Clinical Demands in Oncology
The investment will play a crucial role in accelerating the development of Affinity’s technology platform and drug candidates, which are designed to meet the pressing clinical demands in the oncology sector. With a robust pipeline of targeted therapies, Affinity (Shanghai) is well-positioned to contribute to the advancement of cancer treatments and improve patient outcomes.-Fineline Info & Tech
