Alebund Pharmaceutical announced the 1st closing of RMB 550 million in Series C financing

SHANGHAI and YANGZHOU, China, Jan. 7, 2025 /PRNewswire/ -- Alebund Pharmaceuticals ("Alebund" or the "Company"), an integrated biopharmaceutical company focusing on developing innovative therapies for renal diseases and related chronic conditions, announced the closing of RMB 550 million in Series C financing. Participating investors in this round include a renowned healthcare fund, Yangzhou Guojin Investment Group Co. LTD, and Kingray Capital.

This round of financing will support Alebund in advancing the development and commercial activities of its pipelines in renal disease and to accelerate the development of multiple clinical-stage programs. The fund will support accelerating new drug application (NDA) in China for the best-in-class iron-based phosphate binder AP301 and the conduct of its global pivotal study; the conduct of US/China phase 2 study for the first-in-class pan phosphate transporter inhibitor AP306, and further commercial expansion for Mircera® in China.

Chronic kidney disease has become an increasingly serious global public health problem, and its incidence rate is increasing over the years. Focusing on developing innovative treatments for renal diseases, Alebund has built a diversified and balanced pipeline of drug candidates targeting a range of renal indications, including chronic kidney disease (CKD)/dialysis complications, IgA nephropathy, diabetic kidney disease, focal segmental glomerulosclerosis (FSGS) and autosomal dominant polycystic kidney disease (ADPKD). Alebund has completed the construction of the small molecule production site in Yangzhou and put it into service. Alebund has established a dedicated commercial team in China, focusing on the commercial promotion of Mircera® and launch preparations for future products in its pipeline.

"The successful closing of Series C financing once again proves the importance of the research and development of new therapies for chronic kidney diseases and the confidence from the market in the Alebund team. " Dr. Gavin Xia, Co-founder, Chairman, and CEO of Alebund commented, "We will accelerate the development of Alebund's innovative pipeline globally and expand our commercial footprint in China, to strengthen our influence in renal diseases area, to bring better therapeutic options to patients in China and globally as soon as possible. "

About Alebund Pharmaceuticals

Alebund was incubated in Shanghai in 2018. It focuses on the discovery, development, production and commercialization of novel therapies primarily for kidney diseases and their complications, as well as other chronic conditions, to bring greater therapeutic options to patients in China and globally. Alebund has built a diversified and balanced pipeline of drug candidates targeting a range of renal indications, including chronic kidney disease (CKD)/dialysis complications, IgA nephropathy, diabetic kidney disease, focal segmental glomerulosclerosis (FSGS) and autosomal dominant polycystic kidney disease (ADPKD). Alebund's small molecule manufacturing site in Yangzhou has completed construction and has been in service. Alebund has also established a dedicated commercialization team in China, responsible for the commercial promotion of renal products.

SOURCE Alebund Pharmaceuticals