Anlong Bio Announces $30 Million Series A Funding led by CITIC Medical Fund

On June 9th, 2021, Anlong Biopharmaceutical Co.,Ltd(AnlongBio),a genetic therapygene therapy company in China, announced that it had completed a $30 Million Series A funding round. The investment was led by a flagship alternative investment arm of Chinese financial conglomerate CITIC Group[CITIC.UL], CITIC Medical Fund, joined by Honghui Capital, a private equity firm focusing primarily on the medical investment fund, with existing investor Tigermed, the leading clinical CRO in China, and other investors. Anlong Bio will use the investment to develop its product currently in early development / IND enabling stage, establish scalable GMP manufacturing and in-license clinical stage gene therapy asset and technologies for accelerated approval and commercialization in China. Anlong Bio is committed to being the leading gene therapy company in China and bring transformative genetic medicine to patients in China and globally fast, and at low cost. Anlong Bio was founded by Dr. Chunlin Zhao in 2019 and headquartered in Zhongguancun Medical Transformation Center, Shunyi, Beijing. Dr. Chunlin Zhao, executive chairman and CEO,is a serial entrepreneur and investor in life sciences and med tech with over 30 years of experience and a track record of building an funding successful innovative ventures in China such as Innovent and I-MAB. "The broad sense of nucleic acid drugs (including gene therapy, small interfering RNA, etc.) is a new field that brings significant potential for cure. The technology of nucleic acid drugs in the United States is taking off, while this field in China is still in its infancy.Today, after two years rapid progress, Anlong Bio has entered a new stage with a portfolio of programs across ocular, hematology and metabolic areas, and state of art GMP scalable manufacturing capabilities. I believe that some platform modalities such as antibodies and bi-specifics will become even more crowded in China with hundreds of companies competing to find differentiation. Our goal is to become the leading company in gene therapy in China taking advantage of being a first mover,"said Dr. Chunlin Zhao.