Allorion Therapeutics Completes $40M Series A Financing Round

Allorion Therapeutics, a Boston, MA-based next-generation precision medicine company focused on oncology and autoimmune diseases, compled a $40M Series A financing.

This round was led by Qiming Venture Partners with participation from IDG Capital, Octagon Capital, Firstred Capital, and Elikon Venture, as well as existing investors TF Capital and Med-Fine Capital.

The company intends to use the funds

  • to accelerate the advancement of preclinical projects, IND-enabling studies and IND applications of two drug candidates in China and the United States,
  • to increase its investment in its platform technologies in the systematic screen for allosteric inhibitors and synthetic lethality targets with matching tool compounds, and
  • to enhance the clinical and business development teams.

Led by Peter Ding, Founder and CEO, Allorion leverages a drug discovery engine which integrates technological breakthroughs in protein structure, big data, machine learning and gene editing to systematically discover and develop highly selective small molecules, including covalent and allosteric inhibitors of well-validated targets. The company has also built a synthetic lethality screening platform to expand the scope of targeted therapies for cancer patients, laying a solid foundation for its long-term success.