Chinese radiopharmaceutical developer CNRT raised RMB 116 million (USD 16.9 million) in its Series B round of financing, led by BTG - the subsidiary of BSX, a global specialist healthcare company.
Chengdu New Radiomedicine Technology Co., LTD. (CNRT, 成都纽瑞特医疗科技股份有限公司) raised RMB 116 million (USD 16.9 million) in its Series B round of financing on July 17, according to ITJuzi, a Chinese corporate database.
This funding was led by BTG - the subsidiary of BSX - and followed by Hangzhou Ruizhao (杭州睿照投资管理合伙企业) and the original shareholder Ningbo Zhongchao (宁波中超投资管理合伙企业). The company has completed two rounds of funding with an amount of RMB 226 million (USD 32.8 million).
BTG was exploring a business partner to operate its innovative minimally invasive radiation therapy in the Chinese market, and CNRT is BTG's final choice after a period of investigation, said Louise Makin, CEO of BTG. BTG dominated this round of funding with an RMB 76 million (USD 11 million) investment amount.
CNRT has longed for BTG's new technology on tumor treatment, which is able to extend cancer patients' life and raise the quality of life. CNRT will collaborate with BTG to develop new radiopharmaceuticals, said by Cai Jiming (蔡继鸣), CEO of CNRT.
The radiopharmaceutical developer focuses on medical isotope diagnosis and radio medicine developing, producing and selling, run by several atomic energy and nuclear power scientists. Headquarters in Chengdu, CNRT has grown to be an 80-employee startup, and more than 60 belong to its R&D team.