San Diego, CA – RayThera, a newly established biotechnology company specializing in small molecule therapies for immunological diseases, has raised $110 million in Series A financing to propel its preclinical pipeline toward early-stage clinical trials.
The funding round was co-led by prominent healthcare investors Foresite Capital and OrbiMed Advisors, with additional support from TTM Capital. RayThera plans to use the capital to move its lead drug candidates into Phase 1 clinical studies.
RayThera was co-founded by Qing Dong, Ph.D., and Gene Hung, M.D., both of whom have a strong track record in biotech innovation. The company is backed by a team of seasoned scientists and executives known for their expertise in drug development.
“We are grateful for the strong support from our investors, the same syndicate who funded our previous venture, XinThera,” said Dr. Dong, who also serves as RayThera’s chairman and CEO. “Their continued backing is instrumental as we advance our pipeline.”
Investors praised the company’s early progress and leadership. Michael Rome, Ph.D., a partner at Foresite Capital and member of RayThera’s board, noted: “Our ongoing collaboration with this skilled team exemplifies our commitment to back repeat entrepreneurs who have strong track records partnering with us.”
Carl Gordon, Ph.D., CFA, general partner at OrbiMed and also a board member, echoed the enthusiasm. “We are proud to continue our partnership with this incredibly talented team as they work to develop first-in-class and best-in-class therapies in areas of high unmet need,” he said.
With its Series A funding secured, RayThera joins a growing cohort of biotech startups aiming to deliver innovative treatments in immunology, a field attracting increasing investor and scientific interest.
