Shanghai and San Diego-based Ablaze Pharmaceuticals, a clinical-stage company focused on the development and commercialization of innovative targeted radiopharmaceutical therapies (TRT) against tumor targets, announced the closing of a $75 million Series A financing round. The financing 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. Ablaze also announced a strategic in-licensing agreement with RayzeBio and a partnership with an academic institution for a clinical stage asset.
Proceeds from the Series A financing will be used by Ablaze to establish a leading 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.
Unlike radiation therapy, which is administered by an external beam of high-energy rays, radiopharmaceuticals deliver radioisotopes to tumors via the bloodstream. Targeted radiotherapy (TRT) is a medical method that uses targeted molecules to deliver radion...
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