LyncBio Therapeutics (翎泰天润)

Shanghai ADC startup applying antibody-drug conjugates with non-steroid payloads to autoimmune disease, led by an IBD candidate now in Phase 1.

1. Core Product / Service

LyncBio (翎泰天润生物技术（上海）有限公司) develops ADCs on what it calls a fourth-generation platform, with a "dual-engine" focus on immunology and oncology [1][3][4]. The English name is taken from the sponsor of the LYNC-101 trial registration and a CB Insights profile of a 2023-founded Shanghai ADC company with matching investors [6][7].

LYNC-101 — an ADC that targets activated immune cells and carries a non-steroid immunomodulatory payload, for inflammatory bowel disease. China's CDE granted implied IND clearance (around Sep 2026) and a Phase 1 had already started in Australia [1][3]. ClinicalTrials.gov lists a randomized, placebo-controlled single- and multiple-ascending-dose study in healthy adults (condition: ulcerative colitis), IV every three weeks in the MAD part, ~50 participants, at a single site in Adelaide, start date 2026-05-28 [6]. The company bills it as the first IBD ADC to enter the clinic with both China and US filings (company claim) [1].
Earlier programs: multiple sclerosis, pan-solid-tumor and multiple-myeloma ADCs [1].

2. Target Users & Pain Points

IBD patients (ulcerative colitis, Crohn's) who cycle through biologics and JAK inhibitors with limited durable remission, and for whom systemic steroids carry heavy long-term toxicity.
Mechanistic pitch: deliver an immunomodulatory payload only to activated immune cells, aiming for steroid-like potency without systemic exposure — the same logic as glucocorticoid-ADCs pursued by global pharma, but with a non-steroid payload.

3. Competitive Landscape

Player	Positioning	Vs. LyncBio
Glucocorticoid-receptor-modulator ADCs (global pharma)	Steroid-payload ADCs for immunology	LyncBio uses a non-steroid payload; both validate the "immunology ADC" idea
IBD biologics and oral small molecules (anti-IL-23, anti-TL1A, S1P, JAK)	Standard of care and late-stage pipeline	Large, crowded market; an ADC must show a clear efficacy or durability edge
allink-biotherapeutics	2023 Shanghai ADC startup, oncology-first	Same vintage and city; Allink further along in oncology
timberlyne-therapeutics	US NewCo for a Chinese-origin autoimmune antibody	Alternative route for China-originated immunology assets

4. Unique Observations

The cohort's only documented CDMO outsourcing case: Porton Pharma (博腾股份) states it handled LYNC-101's payload-linker process development, toxicology-batch production and GMP clinical supplies for IND, completing route optimization in six months and delivering GMP material two months early (the CDMO's own account) [3]. Where antibody discovery and conjugation are done is not disclosed [1]. This matches the typical Chinese startup model: a small core team owns design and key biology, while GLP toxicology and CMC are almost entirely outsourced [8].
Australia-first Phase 1: starting healthy-volunteer dosing in Australia before Chinese IND clearance mirrors the route Allink took and gives data usable for FDA filings [1][6].
Immunology ADCs are a contrarian bet: most Chinese ADC capital chases oncology; LyncBio is one of few 2023+ startups leading with autoimmune disease [1].

5. Financials / Funding

Earlier round(s): amounts undisclosed; CB Insights lists a seed round with Apricot Capital (杏泽), Lichen Yuanding (立琛元鼎), Legend Star (联想之星) and Fortune United Partners [7].
Pre-A (Dec 2025): nearly RMB 100M, co-led by Panlin Capital (磐霖) and Apricot Capital; existing investors Lichen Yuanding and Legend Star followed on [1][5].

6. People & Relationships

Founder & CEO: Dr. 符策雄 (Fu Cexiong); CTO: Dr. 冯嘉杰; Head of CMC: 龚华杰. Prior employers not disclosed [1].
Founded: Sep 2023, Shanghai Free Trade Zone [1][4].
CDMO partner: Porton Pharma (payload-linker and GMP clinical supply) [3].
Investors: Panlin Capital, Apricot Capital, Lichen Yuanding, Legend Star.
Peers: allink-biotherapeutics, yili-pharma, scibrunch.