C Ray Therapeutics (Chengdu) Co., Ltd. has completed a Series A+ financing round exceeding $100 million co-led by Shenzhen Capital Group Co., Ltd.’s Manufacturing Transformation and Upgrading New Materials Fund (SCGC) and TaiLong Capital, with participation from several institutions and industry players including GL Ventures, 3SBio, Guanghua Wutong, and a well-known industrial investment institution. WinX Capital acted as the exclusive financial advisor for this transaction.
 
This achievement highlights C Ray’s comprehensive strength and development potential in the research, development, production, and clinical application of radiopharmaceuticals.
 
The main purpose of this round of financing was to further improve the company’s core technology platforms, such as targeted ligand discovery, upgrade the high-throughput screening capabilities for innovative RDC drugs, accelerate the clinical development process of multiple internationally leading R&D pipelines, especially alpha-emitting RDC drugs, and bring more effective treatment options to patients worldwide.
 
Radiopharmaceuticals are a specialized class of drugs that incorporate radioactive isotopes into specific molecules. These drugs leverage the distinct energy-level rays emitted by different isotopes to either visualize or destroy tumors, thereby integrating diagnosis and therapy. As modern medicine’s demand for precise diagnostics and treatments continues to grow, radiopharmaceuticals have demonstrated significant potential across various fields, including oncology, cardiovascular diseases, and neurological disorders.
 
C Ray Therapeutics, established in 2021 and headquartered in Chengdu Medical City, is incubated by internationally renowned investment institutions 6 Dimensions Capital. Since its establishment, C Ray has been dedicated to the field of radiopharmaceuticals, aiming for world-class standards.
 
“We extend our heartfelt gratitude to the investors who have provided strong support in this round of financing, as well as to our existing shareholders for their consistent trust,” said C Ray Therapeutics’ Board of Directors and Management Team in a statement. “C Ray Therapeutics has now entered a critical phase of rapid development. With the successful launch of our Class A production base, the smooth progress of IIT/clinical trials, overseas business development, and CRDMO services, we are confident that, with the trust and support of our shareholders, C Ray Therapeutics will accelerate the development of innovative radiopharmaceuticals, technologies, and service platforms that maximize benefits for patients. Our goal is to become a leading innovative radiopharmaceutical enterprise not only in China but also globally.”