By Fineline Cube Allorion Therapeutics, a next-generation precision medicine small molecule drug developer based in Guangzhou, reportedly raised USD 50 million in a Series B financing round. The round was led by INCE Capital and Qiming Venture Partners, with contributions from TF Capital, LongRiver Investments, 3SBio, Octagon Capital, and Lichen Private Equity Fund.
Company Overview and Platforms
Allorion Therapeutics is focused on developing treatments for oncology and autoimmune diseases. The company utilizes a mass spectrometry application-based systemic allosteric inhibitor screening platform and a synthetic lethal molecule discovery platform based on phenotype screening and CRISPR technology.
Drug Development Pipeline
The company is developing ARTS-011, an allosteric inhibitor targeting the TYK2 pseudokinase domain, which is being developed to treat autoimmune diseases such as psoriasis and lupus. ARTS-011 has been filed for IND status in China. Additionally, Allorion is developing ARTS-021, a CDK2 subtype selective inhibitor with high activity and specificity, for the treatment of ovarian cancer, endometrial cancer, and breast cancer. ARTS-021 is ready for IND filings in both China and the US.
Use of Funds
Proceeds from the Series B financing will be used to advance Phase I/II clinical studies for its two small molecules in China and the United States. The funds will also support the development of its two platforms and the expansion of its clinical development and business development teams.
Significance of the Investment
This investment underscores Allorion Therapeutics’ commitment to advancing innovative treatments in oncology and autoimmune diseases. The funding will enable the company to accelerate its drug development pipeline and enhance its capabilities in precision medicine.-Fineline Info & Tech