SUZHOU, China, May 28, 2019-- Alphamab Oncology, a leading biopharmaceutical company dedicated to global development of innovative biologics for cancer therapy, announced today that it has completed a US$60 million Series B financing led by Hudson Bay Capital Management LP and participated by new investors including entrepreneur Adrian Cheng. Existing institutional investors including China Venture Capital Fund (CVC), PAG, and Advantech Capital also participated. Proceeds from the financing round will be used for developing the pipeline, commissioning a new R&D and manufacturing site, accelerating the clinical development of clinical stage assets, and preparing for commercial launch of KN035 (Envafolimab).