- RayzeBio — a company that is developing a broad pipeline of targeted radiopharmaceuticals against validated solid tumor targets — announced that it has raised $105 million in Series B funding led by Venrock Healthcare Capital Partners
RayzeBio — a company that is developing a broad pipeline of targeted radiopharmaceuticals against validated solid tumor targets — announced that it has raised $105 million in Series B funding led by Venrock Healthcare Capital Partners (VHCP) along with new investors OrbiMed, Redmile Group, Viking Global Investors, Logos Capital, Cormorant Asset Management, LifeSci Venture Partners, Alexandria Venture Investments and others. Existing investors venBio Partners, Versant Ventures, and Samsara BioCapital also joined this round.
With $150 million of capital from the two financings, RayzeBio is going to advance multiple programs in parallel toward the clinic. And the company also is expanding its headquarters in San Diego with plans to further internalize key research and development capabilities.
Along with the funding, RayzeBio also announced it has appointed Gary Li, Ph.D. as senior vice president and head of biology and translational medicine and Eric Bischoff as senior vice president of development and operations. Dr. Li is known as an accomplished cancer cell biologist with over 15 years of drug development experience with leadership positions at Ignyta and QED Therapeutics prior to joining RayzeBio. And Bischoff has had an extensive and diverse career in drug discovery and development for more than 20 years including key roles at two oncology companies Aragon and Seragon.
KEY QUOTES:
“In the past several months, we’ve built an exciting pipeline of seven programs, expanded our leadership team, and secured several key business partnerships. I am appreciative of the enthusiastic support from our elite group of investors. This additional capital allows us to fully invest in the potential of radiopharmaceuticals as a transformative therapy for cancer patients.”
— Ken Song, M.D., president and CEO of RayzeBio
“We’ve been following the radiopharmaceuticals space for several years and are impressed by the approach RayzeBio is taking to build a broad pipeline.”
— Bong Koh, M.D., lead investor from VHCP who is joining the RayzeBio Board of Directors in connection with the Series B
