A new healthcare company is making waves in the oncology market after it announced an initial series of funding amounting to $45 million.
San Diego-based RayzeBio detailed its series A financing achievement on Wednesday. President and CEO Ken Song, MD, said the money will help advance its broad pipeline of targeted radiopharmaceuticals.
Using radiopharmaceuticals allows clinicians to take a theranostic approach to patient care in which the same drug is used for both diagnostic imaging and therapy.
The firm’s pipeline of materials is broken down into targeted, binding, and isotope selections. For the latter, RayzeBio mainly uses Actinium-225, which minimizes damage to surrounding healthy tissue.
“The field of radiopharmaceuticals represents one of the most attractive untapped opportunities in oncology,” Song said in the announcement. “We have a clear and systematic strategy to tackle this space, including key partnerships and a suite of rationally designed radiopharmaceutical medicines that can meaningfully impact outcomes for cancer patients.”