RayThera—a recently founded biotechnology company focused on discovering and developing small-molecule therapies in immunology—announced that it has completed its Series A financing, raising a total of $110 million. The funding round was co-led by Foresite Capital and OrbiMed Advisors, with participation from TTM Capital.
The funding will be used to advance RayThera’s lead drug candidates through Phase 1 clinical studies. Launched by Qing Dong, Ph.D., and Gene Hung, M.D., the company is led by a team of highly skilled drug hunters and executives with an extraordinary track record in the biotech and pharma industries.
KEY QUOTES:
“We are grateful for the strong support from our investors, the same syndicate who funded our previous venture, XinThera. Their continued backing is instrumental as we advance our pipeline.”
- Qing Dong, co-founder, chairman and CEO of RayThera
“I’ve been impressed with the progress that the RayThera team has made in such a short time. Our ongoing collaboration with this skilled team exemplifies our commitment to back repeat entrepreneurs who have strong track records partnering with us.”
- Michael Rome, Ph.D., Foresite Capital’s Partner and member of RayThera’s board of directors
“We are proud to continue our partnership with this incredibly talented team as they work to develop first-in-class and best-in-class therapies in areas of high unmet need.”
- Carl Gordon, Ph.D., CFA, General Partner at OrbiMed and member of RayThera’s board of directors
