US-based radiopharmaceutical developer RayzeBio closed a $105m series B round yesterday backed by Alexandria Venture Investments, the venture capital arm of life sciences real estate investment trust Alexandria Real Estate Equities.
Venture capital firm Venrock’s Healthcare Capital Partners vehicle led the round, which included OrbiMed, Redmile Group, Viking Global Investors, Logos Capital, Cormorant Asset Management, LifeSci Venture Partners, VenBio Partners, Versant Ventures and Samsara BioCapital.
Founded earlier this year, RayzeBio is working on targeted radioisotopes intended to attack solid tumours.
The startup will use the series B proceeds to progress several preclinical programmes toward the clinical trial stage while expanding its head office in order to bolster its internal research and development.
Ken Song, RayzeBio’s president and chief executive, said: “In the past several months, we have built an exciting pipeline of seven programmes, 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.”
VenBio Partners and Versant Ventures had previously co-led a $45m series A round disclosed when RayzeBio publicly launched in mid-October this year, investing alongside Samsara BioCapital.
