TMTPOST — Allygen Biologics has completed a Series A financing round exceeding 300 million yuan. The round was led by Sherpa Investment, with participation from the Beijing Pharmaceutical and Health Industry Investment Fund, Qiming Venture Partners, Zhuhai Science and Technology Industry Group, Huagai Capital, Taiyu Investment, W Capital and other investors. Fuan Capital acted as exclusive financial adviser. Proceeds will support advancing the company’s first STAR-BiADC pipeline candidate ALG01 into Phase 1 clinical trials and the development of additional pipeline products. Allygen focuses on targeted conjugate therapeutics built on its STAR smart tumor-microenvironment activated release technology platform.