Adlai Nortye raises $150 million in private placement financing

Adlai Nortye Ltd. (NASDAQ: ANL) announced it has entered into a securities purchase agreement for a private investment in public equity financing expected to generate gross proceeds of approximately $150 million before deducting placement agent fees and other expenses.

The clinical-stage biotechnology company focused on cancer therapies said the oversubscribed transaction includes participation from both new and existing institutional investors. New investors include Soleus Capital, Perceptive Advisors, ADAR1 Capital Management, MPM BioImpact, Octagon Capital, Eventide Asset Management, Kalehua Capital, and DAFNA Capital Management. Existing investors participating include Cormorant Asset Management, Columbia Threadneedle Investments, Balyasny Asset Management, Casdin Capital, Squadron Capital Management, and Superstring Capital Management.

The company is selling 11,320,755 American Depositary Shares at $13.25 per ADS, matching the closing price on the Nasdaq Global Market on April 15, 2026. The private placement is expected to close on April 17, 2026, subject to customary closing conditions.

"We are delighted to have brought together this group of high-quality healthcare investors to support Adlai Nortye and our innovative, potentially best-in-class RAS-targeting therapies," said Carsten Lu, Chairman and Chief Executive Officer.

Leerink Partners, Cantor, Lucid Capital Markets, H.C. Wainwright & Co. and Jones are serving as joint placement agents for the transaction.

The company noted that the securities have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States except pursuant to an effective registration statement or applicable exemption. Adlai Nortye has agreed to file a registration statement with the Securities and Exchange Commission for resale of the ADSs.

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