Ally Bridge Group led a $112m Series B round in ProfoundBio.

Ally Bridge Group, a global healthcare investment management firm, led a $112m Series B round in ProfoundBio, a clinical-stage biotechnology company, with participation from Nextech Invest, T. Rowe Price Associates, Janus Henderson Investors, RA Capital Management, OrbiMed, Surveyor Capital, Medicxi, Logos Capital, Octagon Capital, Piper Heartland Healthcare Capital, LifeSci Venture Partners, Lilly Asia Ventures and LYFE Capital. "This Series B financing is an important milestone in our mission to redefine cancer treatment. Our ADC pipeline programs, led by Rina-S, demonstrate our dedication to bringing groundbreaking therapies to patients with cancer. With this support, we are better positioned to advance our clinical trials and offer new differentiated approaches. We welcome our new board members and look forward to this next chapter of ProfoundBio," Baiteng Zhao, ProfoundBio Chairman and CEO.