AllinkBio Closes Nearly $50 Million Series A Extension, BlueRun Ventures Continues to Double Down | BlueRun Family

On December 16, 2025, AllinkBio announced the successful completion of an extended Series A financing round of nearly $50 million. The extension was co-led by existing investor Legend Capital and new investor Meituan Longzhu, with participation from BlueRun Ventures, YuanSheng Ventures, 5Y Capital, Dragonstone Capital, Runzhang Ventures, and other notable new and existing shareholders. BlueRun Ventures led AllinkBio's original Series A round.

"From BlueRun's perspective, AllinkBio has demonstrated highly efficient execution in bispecific antibody and ADC drug development over the past year, fully leveraging China's comparative advantages in innovative drug R&D and clinical trials. We look forward to Dr. Feng Hui leading the AllinkBio team to continue developing differentiated therapeutics that address unmet clinical needs."

Accelerating Global Clinical Development of Two Core Assets

This Series A extension will help accelerate global clinical development of the company's two highly differentiated core pipeline programs. ALK201, a potential first-in-class and best-in-class FGFR2b-targeting ADC, has shown encouraging efficacy signals and a favorable safety profile across multiple tumor types, laying a solid foundation for it to become a cornerstone therapy for FGFR2b-overexpressing solid tumors. Concurrently, the ALK202 program's early clinical data has preliminarily validated this EGFR/cMET bispecific ADC's potential to set a new treatment benchmark in non-small cell lung cancer. The program is also expanding its clinical evaluation to cover additional biomarker-defined tumor types and patient populations.

AllinkBio is advancing both core pipeline programs at full speed through a biomarker-driven precision development strategy to validate their efficacy across multiple solid tumors. The company plans to initiate clinical studies of combination regimens for both programs in the near term, further exploring and expanding their therapeutic potential in first-line patient populations. These strategic initiatives will accelerate ALK201 and ALK202 toward pivotal registrational clinical trials while establishing their differentiated competitive advantages in their respective target indications.

Building Next-Generation Platform Capabilities

While continuing to deepen its ADC technology, the company is actively building out its proprietary Masked T Cell Engager (Masked TCE) platform, aiming to drive innovative applications of TCE therapies in solid tumors. In the immunology and inflammatory disease space, AllinkBio is advancing multiple first-in-class bispecific and multispecific antibody programs based on its deep understanding of disease mechanisms, committed to providing next-generation treatment options for patients with unmet clinical needs.

"We are deeply grateful for the trust and steadfast support from our new and existing shareholders," said Dr. Hui Feng, Founder and CEO of AllinkBio. "This financing round will enable us to implement a more focused and efficient clinical strategy and accelerate global development of our core pipeline. At the same time, our R&D platform is advancing at full speed, with the potential to yield a new wave of innovative drug candidates in the near term, driving continued growth in company value."

About AllinkBio

Founded in 2023, AllinkBio is a clinical-stage biotechnology company focused on oncology and immunology, dedicated to differentiated ADC and multispecific antibody innovation. Powered by innovative platform technology and exceptional R&D efficiency, the company has rapidly advanced two ADC candidates into global Phase I clinical trials. AllinkBio's mission is to benefit patients worldwide through continued innovation in ADCs and multispecific antibodies.

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