Radiopharmaceutical startup RayzeBio said it has raised $105 million in series B financing to support the development of radiopharmaceuticals for cancer treatment.
The financing round was led by Venrock Healthcare Capital Partners alongside new investors OrbiMed, Redmile Group, Viking Global Investors, Logos Capital, Cormorant Asset Management, LifeSci Venture Partners, Alexandria Venture Investments, and others, according to the company. In addition, existing investors from RayzeBio's $45 million series A financing also participated, including venBio Partners, Versant Ventures, and Samsara BioCapital.
After raising $200 million in capital, the company said it will advance multiple programs in parallel for its pipeline of targeted radiopharmaceuticals against solid-tumor targets. It will also expand its headquarters in San Diego to further internalize key research and development capabilities, according to RayzeBio.
The firm has also hired two new executives. Gary Li, PhD, has joined RayzeBio as senior vice president and head of biology and translational medicine, while Eric Bischoff has been tapped as senior vice president of development and operations.
