CHINA – Lynk Pharmaceuticals, a Hangzhou, China-based clinical stage company, raised an undisclosed amount in Series C2 funding.
The round saw participation from Shaoxing Binhai New Area Biomedical Industry Equity Investment Fund managed by China Grand Prosperity Investment, Haibang Venture and Howbuy Primary Fund, while original shareholders, New Alliance Capital and Lilly Asia Ventures (LAV).The company intends to use the funds to accelerate growth and expand its R&D sector.Founded in 2018 and led by Dr. Zhao-Kui (ZK) Wan, Chairman and CEO, Lynk Pharmaceuticals is a clinical stage company that is dedicated to the discovery and development of innovative drugs for the treatment of cancer, as well as autoimmune and inflammatory diseases. The core of its pipeline is centered around the development of second-generation highly selective and third-generation tissue-specific JAK inhibitors, while also exploring the potential of innovative target-based drug development.In the past three months, the Phase II clinical trial data for LNK01001 in rheumatoid arthritis, atopic dermatitis, and ankylosing spondylitis have been released, with results demonstrating significant therapeutic effects and a high level of safety. The company has submitted applications for the End of Phase II (EOP2)/Pre-Phase III meeting; several indications are poised to enter Phase III clinical trials, aiming to benefit more patients as soon as possible. Additionally, first patient dosing was achieved in a Phase 1b trial of LNK01004 in both psoriasis and atopic dermatitis in the first half of this year. The early clinical trial data from LNK01002 and LNK01003 are also promising while the pre-clinical pipeline development is progressing steadily as well.21/09/2023
