Alebund Pharmaceuticals, a Shangai, China-based biopharmaceutical company dedicated to developing innovative therapies for the treatment of renal diseases and related chronic conditions, raised $60m in Series B financing.
The round was led by Quan Capital, with participation from 3E Bioventures Capital, and Sherpa Healthcare Partners and existing shareholders Lilly Asia Ventures and Med-Fine Capital.
The company intends to use the funds for research and development of pre-clinical assets, clinical programs, the construction of the manufacturing site, and the expansion its talent pool.
Founded in Shanghai in early 2018 as a startup jointly incubated by a group of industry leaders in the field of nephrology and Lilly Asia Ventures, Alebund is a clinical stage biopharmaceutical company dedicated to the discovery and development of novel therapies and providing clinical solutions to patients with kidney diseases and related chronic conditions.
Led by Dr. Gavin Xia, Co-Founder and Chief Executive Officer, and Dr. Jin Tian, Co-Founder and Chief Medical Officer, the company has built a diversified and balanced pipeline of drug candidates targeting a range of renal diseases, including chronic kidney disease (CKD)/dialysis complications, IgA nephropathy, diabetic kidney disease, and autosomal dominant polycystic kidney disease (ADPKD). Its pipeline comprises both small-molecule and biologic assets. At present, the most advanced product in the company’s pipeline has best-in-class potential in the treatment of hyperphosphatemia. This drug candidate is currently being evaluated in a Phase II trial and is expected to enter Phase III registrational study next year.