▷ Ablaze Pharmaceuticals Launches Series A Funding of 75 …


29.11.2021 – 23:34

Ablaze Pharmaceuticals

SHANGHAI AND SAN DIEGO, March 23 / PRNewswire /

Ablaze Pharmaceuticals (“Ablaze”), a clinical trial pharmaceutical company focused on developing and commercializing innovative targeted radiopharmaceutical therapies (TRT) for tumor targets, announced a Series A funding of $ 75 million. The financing was jointly managed 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.

“Targeted radiopharmaceutical therapies represent the next fundamental modality in treating cancer,” said Dr. Ken Song, Ablaze Co-Founder and Chairman of the Board and President and CEO of RayzeBio, Inc. “When we founded Ablaze, we recognized that having a company focused on the Chinese market and radiopharmaceuticals is critical to success . “

With the growing interest in TRT, Ablaze was formed to become the leading radiopharmaceutical company to introduce TRT products to the Chinese market. Led by an experienced team and a strong consortium of investors, Ablaze started on a solid footing anchored through a strategic in-licensing agreement with RayzeBio and a partnership with an academic institution for a clinical project. After completing Series A, Ablaze will also actively review other potential partnerships and build strong in-house development capabilities.

“TRT is an emerging field that has already demonstrated tremendous clinical efficacy in the treatment of cancer worldwide. We are excited to partner with Ablaze and the RayzeBio team in developing this category of potentially life-saving therapeutics for cancer patients in China.” said Dr. Hongbo Lu, Managing Partner of Vivo Capital.

The proceeds from the Series A funding will be used by Ablaze to build a leading pipeline of advanced TRT products for the treatment of solid tumors, expand the executive team, build radiopharmaceutical infrastructure and secure other strategic collaborations. The board includes Dr. Alex Qiao, Co-Founder and President and CEO of Ablaze Pharmaceuticals, Dr. Hongbo Lu, Benjamin Qiu, Partner at AdvanTech Capital, Dr. Aaron Royston, Managing Partner at venBio Partners, and Dr. Ken Song and Norman Tse, Vice President at Nan Fung Life Sciences, as assessors.

“We believe that Ablaze is bringing world-class TRT product design and clinical expertise to China by partnering with world leaders in TRT and is determined to be a leader in TRT innovation in China.” said Benjamin Qiu.

“We are excited about the opportunity to develop a new class of therapeutic products for the benefit of patients in China,” said Dr. Alex Qiao. “This investment from high-level investors from China and abroad is a strong endorsement of Ablaze’s vision and business model. We look forward to developing the best and most differentiated medicines to meet the unmet medical need in China.”

About Ablaze Pharmaceuticals

Founded in 2021, Ablaze Pharmaceuticals is a clinical phase pharmaceutical company committed to providing advanced targeted radiopharmaceutical therapies (TRT) to cancer patients in China. Since its inception, Ablaze has partnered with RayzeBio, Inc., an innovative radiopharmaceutical company based in San Diego, California, to obtain exclusive development and trade rights for a range of RayzeBio’s products in greater China. Leveraging his team’s extensive business experience and network in cross-border product development and business execution, Ablaze strives to become the leader and partner of choice in the emerging TRT market in China by working with strategic business partners both in China and abroad . For more information please visit www.ablazepharma.com

Information on Vivo Capital

Founded in 1996, Vivo Capital is a global healthcare investment firm. Vivo has approximately $ 5.8 billion in assets under management, invested in more than 310 public and private companies worldwide. The company is headquartered in Palo Alto, California with additional offices in Asia. The Vivo team consists of more than 50 multidisciplinary professionals such as doctors, scientists, entrepreneurs, executives and industry experts.

Vivo offers a multi-fund investment platform covering growth equity, private equity including buyouts, venture capital and public equity. Vivo invests broadly in healthcare across all fund strategies, including biotechnology, pharmaceuticals, medical devices and healthcare services, with an emphasis on the largest healthcare markets.

About AdvanTech Capital

AdvanTech Capital was launched in January 2016 and is a private equity fund focused on innovation-driven growth capital in China. AdvanTech is focused on the healthcare and TMT / e services sectors and is led by more than a dozen seasoned investment professionals with local and overseas educational backgrounds and broad and in-depth local knowledge, practical skills and transaction execution experience.

Information about Nan Fung Life Sciences and Pivotal bioVenture Partners China

Nan Fung Life Sciences is a global life sciences investment platform with long-term capital exposure from the Nan Fung Group. The team has diverse experiences with a long track record in business creation, venture capital, growth / buyout investing, and drug discovery and development. For more information please visit https://www.nanfunglifesciences.com

Pivotal bioVenture Partners China, a member of Nan Fung Life Sciences, is a venture capital company specializing in the health and life science industries. The company’s investment strategy focuses on identifying promising innovative products and technologies in order to create new companies in China. For more information please visit https://www.pivotalbiovp.cn

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Original content by: Ablaze Pharmaceuticals, transmitted by news aktuell


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