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RayzeBio propels forward with $418 million raised since inception to advance targeted radiopharmaceuticals for cancer

Press releases may be edited for formatting or style | September 13, 2022 Molecular Imaging
SAN DIEGO--(BUSINESS WIRE)--RayzeBio, Inc., a targeted radiopharmaceutical company developing an innovative pipeline against validated solid tumor targets, today announced a $160 million Series D financing co-led by Viking Global Investors, Sofinnova Investments and Wellington Management. Additional new investors Ally Bridge Group, Sands Capital, Laurion Capital Management, Soleus Capital, and an undisclosed global investor also participated, as did RayzeBio’s current investors. With this financing, RayzeBio has now raised $418 million since beginning operations in August 2020.

“RayzeBio has accelerated innovation in the emerging field of targeted radiopharmaceuticals and is breaking ground with Actinium-225 based drugs. We are thrilled to partner with Ken, the management team and board to drive these exciting and potentially game-changing treatments to cancer patients”

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“In the last two years, we have transformed from an early start-up to an integrated radiopharmaceutical company leading innovation with this modality to fight cancer. Our lead clinical asset, RYZ101, is poised to be the first Actinium-225 (Ac225) approved drug. In addition, our broad discovery engine has generated several novel drug candidates for clinical evaluation in the near future,” said Ken Song, M.D., President and CEO of RayzeBio. “This financing provides us the ability to further expand our leadership in targeted radiopharmaceuticals and allows us to reach several major value inflection points both clinically and operationally.”

The company’s substantial progress since inception includes:

Advancing lead drug candidate, RYZ101, which delivers Ac225, a highly potent alpha-emitting radioisotope, into clinical trials for multiple solid tumor indications. A Phase 1b clinical trial is currently enrolling patients with neuroendocrine tumors and Phase 3 studies could begin as early as 2023. Full details of RayzeBio’s clinical progress are described in a separate press release issued today.
Investing in and securing key aspects of commercial scale manufacturing and radioisotope supply.
Building a state-of-the-art 28,000 square foot research and development facility in San Diego equipped with the full spectrum of capabilities for radiopharmaceutical drug discovery.
Completing more than 200 in vivo studies, thus gaining key proprietary insights to discover novel drug candidates capable of delivering therapeutic radioisotopes to tumor associated antigens.

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