Adlai Nortye Ltd.

We are a global clinical-stage company focused on discovering and developing innovative cancer therapies. We maintain dual research and development presences in the U.S. and China. Our pipeline of drug candidates targets two key areas: RAS-targeting therapies and next-generation cancer immunotherapies. In RAS-targeting therapies, we are developing AN9025, an oral pan-RAS(ON) inhibitor, and AN4035, a CEACAM5-targeting antibody-drug conjugate (ADC) that delivers a pan-RAS(ON) inhibitor. AN9025 is an oral small molecule pan-RAS(ON) inhibitor designed to target a broad spectrum of RAS mutations across various tumor types, including pancreatic, lung, and colorectal adenocarcinomas. Its clinical phase I study is currently ongoing. AN4035 is a proprietary CEACAM5-targeting ADC armed with a pan-RAS(ON) inhibitor payload, targeting CEACAM5-expressing, RAS-driven cancers. We expect to submit an Investigational New Drug (IND) application for AN4035 in the middle of 2026. For next-generation cancer immunotherapies, our candidates include AN8025, a tri-functional fusion protein of PD-L1 x CD86 variant x LAG3 variant, which modulates T-cells and antigen-presenting cells, and AN4005, a first-in-class oral small-molecule PD-L1 inhibitor. AN8025 is a tri-specific antibody fusion protein designed to modulate T cell and antigen-presenting cell (APC) functions. Its clinical phase I study is currently ongoing.