Lynk Pharmaceuticals CO., LTD, a Hangzhou, China-based pharmaceutical R&D company, completed Series B financing of $50m.
The round was led by Lilly Asia Ventures (LAV) with participation from New Alliance Capital and Hangzhou HEDA Biological Medicine Venture Capital Partnership (L.L.P.) and its original shareholders Legend Capital and Med-Fine Capital.
The company intends to use the funds to conduct Phase I and II clinical trials for multiple programs in the R&D pipeline, expand international business, strengthen international collaborations with companies and support preclinical development of new projects.
Founded in 2018 and led by Dr. Zhao-Kui (ZK) Wan, Chairman and CEO, Lynk Pharmaceuticals is a drug R&D company dedicated to the development of global FIC/BIC small molecule drugs for autoimmune diseases, inflammation and cancers. In three and a half years since its establishment, Lynk has obtained IND approvals for three original products in China and the United States, launched global clinical development efforts, and completed the ex-Chinese rights out-license of LNK01001 to a US company and the in-license of the first-in-class RAS program from Japan’s Kobe University and RIKEN, both in 2020.