Alexandria Venture Investments, the venture capital subsidiary of life sciences real estate investment trust Alexandria Real Estate Equities, took part in a $108m series C round for US-based radiopharmaceutical developer RayzeBio yesterday.
The round was led by Venrock Healthcare Capital Partners, a fund managed by venture capital firm Venrock, and included new investors Perceptive Advisors, Vivo Capital, Acuta Capital Partners, Deerfield Management and TCG Crossover.
The round also featured existing backers VenBio Partners, Versant Ventures, Samsara BioCapital, Redmile Group, Viking Global Investors, Cormorant Asset Management, OrbiMed, LifeSci Venture Partners and Logos Capital.
RayzeBio is developing drug binders designed to deliver therapeutic radioisotopes to tumours in cancer patients. It has raised over $258m of funding since it was founded in October 2020.
Alexandria Venture Investments also took part in RayzeBio’s $105m series B round in December 2020. It was led by Venrock Healthcare Capital Partners and included OrbiMed, Redmile Group, Viking Global Investors, Logos Capital, Cormorant Asset Management, LifeSci Venture Partners, VenBio Partners, Versant Ventures and Samsara BioCapital.
The company disclosed at launch it had secured $45m in a series A round co-led by VenBio Partners and Versant Ventures and backed by Samsara BioCapital.
Ken Song, RayzeBio’s president and chief executive, said: “The interest and confidence from our exceptional group of investors that has funded the company enables us to fully invest in our plans to be the leader in targeted radiopharmaceuticals for a multitude of cancer types.”