Shanghai-based Alebund Pharmaceuticals has announced the completion of a pre-Series C financing round worth RMB 200 million (USD 29 million). This funding is supported by a consortium of investors including Yangzhou Guojin Investment, Jiangsu Dingxin Capital, Yangzhou Longchuan Holdings, a leading international sovereign fund, Lilly Asia Ventures, Quan Capital, 3H Health, Octagon Capital, and Verition Fund. The proceeds from this round will be utilized to advance the company’s research and development pipelines.
Alebund Secures Additional $116M Loan for Manufacturing Facility
Parallel to the financing round, Alebund has also secured an RMB 800 million (USD 116.4 million) syndicated bank loan credit. This loan is intended for the construction of a manufacturing facility in Yangzhou, Jiangsu, which will support the commercialization of the company’s small molecule products.
Background on Alebund Pharmaceuticals
Alebund Pharmaceuticals is a clinical-stage biopharmaceutical startup incubated in Shanghai in 2018 by industry leaders in nephrology. The company is dedicated to the discovery and development of novel therapies, primarily for kidney diseases and their complications, as well as other chronic conditions. Alebund has established a diversified and balanced pipeline of drug candidates that target a variety of renal diseases, including chronic kidney disease (CKD)/dialysis complications, IgA nephropathy, diabetic kidney disease, and autosomal dominant polycystic kidney disease (ADPKD).
Current Clinical Developments and Future Plans
Currently, Alebund has three Class I innovative drugs in various stages of clinical development—Phase I, II, and III. The company anticipates that an additional 1-2 in-house developed products will enter clinical testing by 2024, further expanding its efforts to bring new treatments to patients with nephrological conditions.-Fineline Info & Tech
