Alebund Raises $60 Million for China Development of Novel Renal Drugs

Alebund Pharma, a Shanghai company developing renal disease therapies, raised $60 million in a Series B round led by Quan Capital. The company's small-molecule/biologic candidates target chronic kidney disease/dialysis complications, IgA nephropathy, diabetic kidney disease and autosomal dominant polycystic kidney disease (ADPKD). The company's lead product is the ADPKD candidate, which is currently in a Phase II trial. It will use the proceeds from the financing to build a manufacturing site plus R&D of its portfolio. Alebund said it is the first China biopharma to focus exclusively on renal disease. More details.... Share this with colleagues: // //