RayzeBio develops targeted radiopharmaceutical drug conjugates designed to deliver potent therapeutic radioisotopes such as Actinium-225 to tumors expressing validated targets like SSTR2. Its lead asset, RYZ101, targets somatostatin receptor type 2 and is in a Phase 1b trial for neuroendocrine tumors, with Phase 3 studies potentially beginning as early as 2023; it is also being evaluated in extensive-stage small cell lung cancer. The company has invested in commercial-scale manufacturing and radioisotope supply, completed more than 200 in vivo studies, and built a 28,000 square foot R&D facility in San Diego. RayzeBio has established a licensing agreement with Ablaze Pharmaceuticals for development and commercialization in China. Management says the financing will allow the company to expand its leadership in targeted radiopharmaceuticals and reach major clinical and operational value inflection points. The company appointed Abhi Bhat, Ph.D., as senior vice president, discovery; RayzeBio was established in 2020 and has raised $418 million since inception. RayzeBio focuses on discovering and developing a broad pipeline of targeted radiopharmaceutical drugs for clinically validated solid tumor targets, using novel drug binders to deliver potent therapeutic radioisotopes such as Actinium-225 (an alpha-emitter). The company aims to improve outcomes for people with cancer by harnessing targeted radioisotopes and plans to invest in expanding its pipeline across multiple cancer types. RayzeBio announced a $108 million Series C to advance its programs and stated the financing enables full investment in its strategic plans. Since debuting in the second half of 2020, the company has raised over $258 million of capital, and has rapidly expanded its team, infrastructure, and capabilities. RayzeBio was established in 2020 and is based in San Diego. RayzeBio develops targeted radiopharmaceuticals using peptide-mimetic binders to deliver potent therapeutic radioisotopes such as the alpha-emitter Actinium-225 to clinically validated solid tumor targets. The company has built a pipeline of seven programs and plans to advance multiple programs in parallel toward the clinic. RayzeBio is expanding its San Diego headquarters and intends to further internalize key research and development capabilities. The company has added senior leaders in biology, translational medicine, and development and operations to support those efforts. Financially, RayzeBio has raised $150 million in total capital from a $45 million Series A and a $105 million Series B to fund pipeline advancement. RayzeBio was established in 2020 and is headquartered in San Diego. RayzeBio develops tumor-targeted small-molecule radiopharmaceuticals and macrocyclic peptide mimetic binders to deliver therapeutic radioisotopes like Actinium-225. The company prioritizes clinically validated solid tumor targets and has identified at least 10 promising targets to pursue. Its approach coordinates target selection, binder selection (including a partnership with PeptiDream for de novo binder discovery), and isotope selection with Actinium-225 as the primary payload. RayzeBio emphasizes a theranostic strategy in which the same conjugate can be used for diagnostic imaging and therapy by switching isotopes. The company was established in 2020 and is led by CEO Ken Song with co-founder and CTO Deborah Charych and an experienced management team and academic advisors. It has secured supplier relationships for Actinium-225 and plans to advance a broad pipeline of programs. Financially, RayzeBio launched with a $45 million Series A to fund development of its portfolio.

Total raised

$418M

Funding rounds

4

Latest round

Series D

Latest activity

Sep 2022