Sino-American medical research business RuiYi has picked up another $15m of financing through a Series B round thanks to renewed commitments from its existing backers.
5AM Ventures, Versant Ventures, Apposite Capital all took part in the round alongside GlaxoSmithKline’s corporate healthcare fund SR One, Merck Serono Ventures and Aravis.
Andy Schwab, co-founder and managing partner of 5AM Ventures, said, “RuiYi has a powerful antibody drug discovery platform and a unique approach to exploring and selectively targeting GPCRs as important therapeutic intervention points.
“RuiYi’s strategy to develop novel therapeutics in an emerging market is a unique opportunity to address a large and underserved patient population who have not had access to biologic therapies.”
RuiYi’s executive management is based in California, while its discovery efforts are all in China.
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