RuiYi Obtains $15,000,000 Series B Funding

  • Feed Type
  • Date
    3/27/2014
  • Company Name
    RuiYi
  • Mailing Address
    505 Coast Blvd S. La Jolla, CA 92037 USA
  • Company Description
    RuiYi is focused on the discovery and development of novel biologic therapeutics that meet the medical and commercial needs for China’s patients and healthcare system and that have the potential to be disruptive globally. RYI-008 is a novel, extremely potent monoclonal antibody that is highly selective to IL-6, a cytokine widely implicated in inflammation and cancer.
  • Website
    http://ruiyibio.com/
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $15,000,000
  • Transaction Round
    Series B
  • Proceeds Purposes
    The financing will support the continued development of RuiYi’s lead asset, RYI-008, a novel anti-IL-6 monoclonal antibody (mAb), and the discovery and development of new therapeutic mAbs targeting GPCRs, including a first-in-class mAb to cannabinoid receptor 1 (CB-1), a commercially validated but previously intractable drug target.
  • M&A Terms
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