China’s BoomRay Pharmaceuticals, a specialist in radionuclide drug conjugates (RDCs), reportedly raised nearly RMB 300 million (USD 43.2 million) in a Series A financing round led by Sequoia China. The funding will accelerate clinical development, regulatory filings, and global expansion of its pipeline targeting brain, pancreatic, prostate, and other tumors.
Funding Details
The round included participation from Riverhead Capital, Tri-river Capital, Puhua Capital, Tsing Song Capital, LSV Capital, and Shenzhen Jinsheng Equity Investment. Proceeds will fund clinical trials, R&D, manufacturing base construction, and international business development.
Company Background
Founded in 2018 with support from Peking University’s College of Chemistry and Molecular Engineering and WuxiApptec, BoomRay focuses on first-in-class and best-in-class RDCs and neutron capture therapies. Its pipeline addresses high-unmet-need areas, including inflammatory carcinoma and solid tumors.
Pipeline Focus
BoomRay’s RDCs leverage targeted radioisotopes to deliver localized radiation, minimizing systemic toxicity. The company aims to advance multiple candidates into clinical stages, with a focus on orphan and hard-to-treat cancers.
Strategic Outlook
The Series A funding positions BoomRay to challenge incumbents in the RDC space, where demand is rising for precision oncology therapies. With Sequoia’s backing, the firm plans to scale manufacturing and explore partnerships in Europe and the U.S.-Fineline Info & Tech
