C-Ray Therapeutics, a specialist in radiopharmaceuticals headquartered in Chengdu, has announced the successful completion of a Series A+ financing round, raising over USD 100 million. The funding was co-led by Shenzhen Capital Group’s Manufacturing Transformation and Upgrading New Materials Fund and Tailong Capital, with additional contributions from GL Ventures, 3SBio Inc. (HKG: 1530), Guanghua Wutong, and a prominent industrial investment institution.
Funding Details and Contributors
The substantial investment will bolster C-Ray Therapeutics’ position in the radiopharmaceuticals sector, with support from a diverse group of financial backers. This capital inflow reflects the confidence in C-Ray Therapeutics’ potential to innovate and lead in the development of advanced medical treatments.
Company Strengths and Future Plans
C-Ray Therapeutics boasts capabilities in radiochemistry and the application of nuclear technology, complemented by robust academic medical and scientific expertise. The company plans to channel the proceeds from the Series A+ financing into enhancing its core technology platforms. These include target precursor discovery, the development of innovative radionuclide drug conjugates (RDC), high-throughput screening, and the advancement of multiple world-leading pipelines. A particular focus will be on the clinical development of alpha-emitting RDC drugs, which hold significant potential in targeted cancer therapies.-Fineline Info & Tech
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