BoomRay Pharmaceuticals, focusing on the development of the next-generation BoomRay Pharmaceuticals, will Accelerate breakthroughs and clinical applications of nuclear drugs in new targets, vectors and platform technologies with the fresh proceeds.
BoomRay Pharmaceuticals (Chinese: 药明博锐) announced the completion of the Series A financing round worth nearly CNY 300 million. The round was led by Sequoia Capital China (Chinese: 红杉中国), with the participation from Riverhead Capital (Chinese: 阳光融汇), Tianfu Sanjiang Asset Management (Chinese: 天府三江资本), Puhua Capital (Chinese: 普华资本), CTS Capital (Chinese: 清松资本), Life Park Venture Fund (Chinese: 生命园创投基金) and Shenzhen Jinshen Investment (Chinese: 深圳今晟投资). CEC Capital (Chinese: 易凯资本) served as the exclusive financial advisor for this round.
The funds will be used to accelerate the clinical development and registration of the company's self-developed pipelines, accelerate the construction of the R&D center and production sites and increase business development worldwide.
Founded in 2018, BoomRay Pharmaceuticals is committed to building development, production and clinical application platform for next-generation radioactive targeted drugs. The company's products are all self-developed and have global intellectual property rights. Besides, the company's pipelines include several FIC/BIC coupled drugs and neutron capture therapeutic drugs for various diagnostic and therapeutic indications, such as head and neck tumors, brain tumors, pancreatic cancer, rectal cancer, prostate cancer, and inflammatory cancer.
BoomRay's competitors include SmartNuclide Biopharma (Chinese: 智核生物), Full-Life (Chinese: 辐联医药) and Grand Pharma (Chinese: 远大医药).