Ablaze Pharmaceuticals, a Shangai, China and San Diego, CA-based clinical-stage pharmaceutical company focused on the development and commercialization of innovative targeted radiopharmaceutical therapies (TRT) against tumor targets, raised $75m in Series A financing round.
The round was co-led by Vivo Capital and AdvanTech Capital with participation from RAYZ Investments, Nan Fung Life Sciences, Pivotal bioVenture Partners China, venBio Partners, Samsara BioCapital and Venrock Healthcare Capital Partners.
The company intends to use the funds to establish a pipeline of advanced TRT products for the treatment of solid tumors, expand the leadership team, build up infrastructure for radiopharmaceuticals and secure further strategic collaborations.
Founded in 2021 and led by Dr. Alex Qiao, co-founder and President and CEO, Ablaze Pharmaceuticals is a clinical-stage pharmaceutical company with a mission to bring advanced targeted radiopharmaceutical therapies (TRT) to benefit cancer patients in China. Since its inception, the company has secured a partnership with RayzeBio, an innovative radiopharmaceutical company based in San Diego CA, to gain exclusive development and commercial right to a series of RayzeBio’s products in the greater China region.