RuiYi Obtains $15,000,000 Series B Funding
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- Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=55d60262-6207-449f-a491-0b695c16613b - 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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