Sino-American backing for Alphamab

In the latest example of biotech belying the trade tensions between political leaders, Chinese and US investors have joined in the financing of an oncology-focused biopharma based in China.

Alphamab Oncology has raised more than $100 million in a successful Series A round, with Advantech Capital, PAG, China Venture Capital Fund among the Chinese investors participating, and OrbiMed and Heritage Provider Network committing funds from across the Pacific.

The proceeds will be used to advance global development of Alphamab’s pipeline, especially its second-generation immuno-oncology medicine, to expand its clinical and commercial teams, and to complete the ongoing construction of its biologics manufacturing facilities.