SUJOU, China, March 1, 2021 / PRNewswire / – Suzhou Medilink Therapeutics Ltd. (Medilink), a global biotechnology company focused on the research and development of next-generation antibody-drug conjugates, announced the closing of a $ 50 million Series A financing, to accelerate the development of its innovative pipeline and to support its unique combined technology platform. The funding includes a Series A1 round led by Apricot Capital and a Series A2 round co-led by Loyal Valley Capital and Qiming Venture Partners.
“Our team has extensive knowledge of ADC technology and project development. Our goal is to develop drugs of real benefit to patients around the world. The ADC field has seen a series of significant breakthroughs in recent years and we need to develop more effective and safer ADC drugs, ”said Dr. Tongtong Xue, Founder and CEO of Medilink, “With the strong support of our prestigious investors, we will focus on our combined platform and rapidly develop our differentiated pipeline, to meet the huge unmet needs around the world. ”
Medilink Therapeutics was created in 2020 by a sophisticated team of industry veterans. Dr. Xue has extensive experience in R&D, manufacturing and business development. He was CEO of Kelun-Biotech and led a team of over 1000 scientists. Dr Jiaqiang Cai, CSO of Medilink, has accumulated nearly 30 years of industry experience in R&D on small molecules and ADC drugs and previously served as Vice President of Shanghai Hansoh Pharmaceutical Ltd. Liang Xiao, COO of Medilink, who was Vice President of Kelun-Biotech and COO of Klus Pharma, has extensive experience in biologics and ADC development.
Mr. Roy (Ronggang) Xie, a partner at Loyal Valley Capital, said, “ADC is one of the most important approaches to the treatment of cancer. Advances in linkage and payload technology have broadened the therapeutic applications of ADC. The Medilink team has the advantage of ADC’s R&D insight and knowledge. Since its founding, Medilink has demonstrated strong execution capacity and made rapid progress on fronts including projects, external collaborations and team consolidations. We are honored to work with such an excellent team. Loyal Valley Capital will certainly be a long-term supporter of Medilink, which we believe will become a world-class leader in the development of conjugate drug technologies. “
Dr Kan Chen, Director of Qiming Venture Partners, said, “Conjugate drugs have clear benefits in fighting cancers, especially malignant tumors. The technical barriers being extremely high, the development of ADC is full of hope and challenges. Founded in Suzhou, China. , Medilink has high ambitions for its ADC R&D to be globally competitive and meet the needs of patients around the world in the future. The team has the vision, the experience and the ability to achieve the goal.
Mr. Jing Qiang, Partner at Apricot Capital, said, “The development of the ADC drug is very complex, requiring a well-balanced approach to all components including antibody, linker and payload. Medilink has demonstrated its solid craftsmanship and unique knowledge of at every stage of ADC design and development. The entrepreneurial spirit and chemistry of the team members is greatly appreciated, and we are confident that the company will be able to become one of the world’s leading conjugate drug technology platforms. “
About MediLink Therapeutics
Founded in 2020, MediLink Therapeutics established its R&D center in Suzhou, China. The company is focused on the development of next-generation drug conjugates and aims to address the vast unmet medical needs in China, and create global value by leading multi-center clinical trials and cross-border collaborations.
About Loyal Valley Capital
Loyal Valley Capital (“LVC”), founded in 2015, has always adhered to “long-term, focused and altruistic” investment values. LVC supports the growth of exceptional entrepreneurs through in-depth industrial research and empowerment of post-investment initiatives. LVC has left its mark on major players such as Bilibili, TIC Tac, Pop Mart, Perfect Diary, NetEase Cloud Music Junshi, InnoCare, Akeso, Henlius, SUPCON, BaYi space, Avary.
About Qiming Venture Partners
Founded in 2006, Qiming Venture Partners is a leader China venture capital firm. Currently, Qiming Venture Partners manages nine US dollars funds and six RMB funds with $ 5.9 billion. Focusing on the early stages and growing TMT Healthcare, we have invested in over 380 innovative companies. Among them, more than 130 companies listed on the main stock exchanges. And over 40 companies have become recognized as unicorns and super unicorns in the industry.
About Apricot Capital
Founded in 2015, Apricot Capital aims to integrate the resources of the healthcare industry with a focus on innovation and growth of Chinese companies. Apricot Capital manages more 3 billion RMB in assets and invested in outstanding healthcare companies at every stage. Apricot Capital has established a global network of scientific resources in the healthcare industry and has earned a great reputation for helping top scientists achieve their entrepreneurial dreams.
SOURCE MediLink Therapeutics