C Ray Secures $100M in Series A+ Financing for Radiopharmaceutical Innovations

• C Ray Therapeutics raises over $100 million in Series A+ financing, co-led by Shenzhen Capital Group and TaiLong Capital.

• Funds to enhance radiopharmaceutical R&D, production, and clinical pipelines, targeting global healthcare markets.

C Ray Therapeutics (Chengdu) Co., Ltd., an enterprise specialising in radiopharmaceuticals, has completed a Series A+ financing round exceeding $100 million. The round was co-led by Shenzhen Capital Group Co., Ltd. (SCGC) and TaiLong Capital, with participation from GL Ventures, 3SBio, Guanghua Wutong, and others. WinX Capital served as the exclusive financial advisor for this transaction.

The funding will support C Ray’s efforts to enhance its core technology platforms, including the development of targeted ligands and high-throughput screening for Radiopharmaceutical Drug Conjugates (RDCs). The company also aims to accelerate the clinical development of alpha-emitting RDCs and expand its global production capabilities.

Founded in 2021 and headquartered in Chengdu Medical City, C Ray Therapeutics focuses on innovative radiopharmaceutical solutions for oncology, cardiovascular diseases, and neurological disorders. The company has built a 30,000-square-metre R&D and production base and secured Class A Radiation Safety Licenses.

Radiopharmaceuticals integrate radioactive isotopes into molecules for tumour diagnosis and treatment. The industry has seen heightened interest, with notable investments such as Bristol Myers Squibb’s $4.1 billion acquisition of RayzeBio and Lilly’s $1.4 billion purchase of Point Biopharma.

A statement from the board of directors at C Ray expressed optimism about the company’s growth, stating: “With this financing, C Ray Therapeutics will accelerate the development of innovative radiopharmaceuticals, aiming to benefit patients globally.”