What was announced
Hangzhou Eli Radiopharma Co., Ltd. has completed a Series A financing round of nearly RMB 400 million, the company said. Huagai Capital led the round and Bayland Capital was co-lead investor, with participation from Boyu Ventures, Delian Capital, InnoPinnacle Fund, Haibang Venture, Bairui Capital, Shenzhen Angel FOF Management and Grand Flight Investment. Existing shareholders CSPC & Growth Bio Fund, Huaige Capital, KHK Fund, Longfeng Venture, Hongsheng Capital, Bioclub Fund and Skyfield Capital also took part. The company was founded in 2024 and works on radiopharmaceuticals for oncology and neurological diseases.
Where the money goes
The proceeds will mainly support advancing the company's core pipeline toward clinical development, it said. Funding is directed to preclinical research, clinical trial applications and early-stage clinical development, along with further investment in R&D platforms, hiring, and clinical and business development. Eli Radiopharma said it has advanced multiple programs against novel molecular targets through lead discovery and in vitro and in vivo validation, and that several programs are approaching IND submission.
What the company says
Founder and CEO Dr. Feng Yu said completion of the round marks a milestone in the company's development and reflects investors' confidence in its R&D strategy, technical capabilities and long-term vision. He said the financing would support moving lead programs through preclinical development and regulatory milestones toward clinical evaluation, with the aim of delivering diagnostic and therapeutic options for patients with cancer and neurological diseases.
The investors' view
Cynix Wang, chief investment officer of healthcare at Huagai Capital, said radiopharmaceuticals sit at the intersection of molecular targeting, radionuclide technology and precision theranostics, and that two business development deals in 2026 involving multinational pharmaceutical companies and Chinese radiopharmaceutical innovators underscored growing global recognition of China's innovation capabilities. Xi Zou, director and project lead at Bayland Capital, said the firm expects radioligand therapy to play a larger role in treating a broad range of solid tumors as more such therapies gain regulatory approval.
