On September 13, 2022, RayzeBio, Inc., a targeted radiopharmaceutical company developing an innovative pipeline against validated solid tumor targets, announced a $160 million Series D financing co-led by Viking Global Investors, Sofinnova Investments, and Wellington Management. Additional new investors Ally Bridge Group, Sands Capital, Laurion Capital Management, Soleus Capital, and an undisclosed global investor also participated, as did RayzeBio’s current investors. With this latest financing, RayzeBio has now raised $418 million since beginning operations in August 2020.

According to RayzeBio’s president and CEO, Ken Song, M.D., the financing provides the company the ability to further expand its leadership in targeted radiopharmaceuticals and allows it to reach several major value inflection points both clinically and operationally. RayzeBio has advanced its lead drug candidate, RYZ101, which delivers Ac225, a highly potent alpha-emitting radioisotope, into clinical trials for multiple solid tumor indications. A Phase 1b clinical trial is currently enrolling patients with neuroendocrine tumors and Phase 3 studies could begin as early as 2023.

Wilson Sonsini’s patents and innovations group, led by Ying Chen, represented RayzeBio in patent matters related to the transaction. Also included on the team were Michael Hostetler, Céline Bonnefous, and Michael Wormald.

For more information, please see RayzeBio’s news release. Additional information is available in Endpoints News.