On May 31, 2023 Lynk Pharmaceuticals Co., Ltd. (hereinafter referred to as ‘Lynk Pharmaceuticals’), an innovative clinical stage company, reported the successful completion of a RMB 200 million Series C1 financing round (Press release, Lynk Pharmaceuticals, MAY 31, 2023, View Source [SID1234632303]). There was joint participation by China Grand Prosperity Investment, Tailong Capital and Liando Investment. The proceeds from this round of financing will be primarily used to accelerate the clinical development of Lynk Pharmaceuticals’ core products.
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Founded in 2018 and headquartered in Hangzhou, China, Lynk Pharmaceuticals is a global innovative leader in the pharmaceutical industry dedicated to the development of small molecule FIC and BIC drugs for oncology and autoimmune diseases. The company’s core team has deep knowledge in medicinal chemistry, biology, clinical and commercial development, with an average of more than 20 years of experience in new drug research and development or related disciplines in the pharmaceutical industry. The company emphasizes innovation and differentiation in its pipeline, with a focus on the development of highly selective second-generation and tissue-restricted third-generation JAK inhibitors while exploring drug development with novel targets. Currently, the company has 4 Phase II clinical trials for four indications with promising clinical data. Among these, a few programs are expected to enter Phase III clinical trials in the near future. Additional pipeline candidates have shown promising clinical and preclinical data and have the potentials to become BIC/FIC drugs for several indications. Recognizing the significant medical needs in the market of autoimmune diseases and oncology, the company sees great potential for commercialization of its products.
Autoimmune diseases are emerging as the second largest therapeutic area after oncology. There are huge unmet needs for autoimmune related diseases which has led to the creation of a few "blockbuster" drugs. JAK inhibitors are gradually becoming the preferred choice for clinicians and patients around the world due to their validated therapeutic effects and convenience of use. In addition to multiple intrinsic advantages associated with small molecules over biologics, the JAK inhibitors are well known for favorable efficacy and fast onset. According to Frost & Sullivan, the total market size of JAK1 inhibitors alone will reach $30.5 billion by 2030.
Dr. Zhao-Kui (ZK) Wan, Chairman and CEO of Lynk Pharmaceuticals, said, "We are grateful for the trust and support from China Grand Prosperity Investment, Tailong Capital and Liando Investment. Lynk Pharmaceuticals is committed to developing globally competitive and differentiated FIC/BIC innovative drugs for autoimmune and oncology diseases. In this period of rapid growth, we will take this opportunity to further strengthen our research and development in autoimmune and oncology diseases and to increase the investment in our R&D team as well as our technology platform. Lynk will continue to look for opportunities to accelerate the development and launch of innovative drugs in the hope of providing more effective and safer treatment options for patients worldwide. HaoYue Capital acted as the exclusive financial advisor for this financing. We are sincerely thankful for their professionalism and support."