Clinical-stage drug discovery company Allorion Therapeutics raised USD 50 million in a Series B funding round co-led by INCE Capital and Qiming Venture Partners, with participation from TF Capital, Long River Investment (LRI), 3SBio, Octagon Capital, and Elikon Venture. This brings the total funds raised to more than USD 100 million. 

The funds will be used to finance Phase I/II clinical trials in both the US and China, as well as to identify clinical candidates for additional programs. The company also intends to advance its early discovery platform technologies, including a screening platform for allosteric inhibitors (used as drugs to treat diseases caused by overactive proteins) and a platform for discovering synthetic lethality targets and molecules (weak spots in cancer cells that can be targeted with specific treatments). The funds will also allow Allorion to build its clinical and business development teams.

Massachusetts-based Allorion Therapeutics is a biotech company in the clinical stage that concentrates on developing precision medicine for the treatment of autoimmune diseases and cancer. The company has progressed two small molecules to the IND stage. ARTS-011, a type of allosteric inhibitor that is aimed at the TYK2 pseudokinase domain, which is utilized to treat autoimmune diseases, such as psoriasis and lupus, and ARTS-021, a selective inhibitor of CDK2 isoform that is used to treat solid tumors, such as breast, ovarian, and endometrial cancer.