Pharmadax Completes Series A2 Financing of Hundreds of Millions of RMB to Strengthen Its Radiopharmaceutical Pipeline and Industrial Base

Recently, Jiaxing Faber Xintian Pharmaceutical Technology Co., Ltd. (hereinafter referred to as “Faber Xintian”) announced the completion of its RMB 100 million Series A2 financing round. This round was led by Beijing Tongfu Innovation Industrial Investment Fund Partnership (Limited Partnership) (hereinafter referred to as “Tongfu Fund”), which is managed by CNNC Industry Fund Management Co., Ltd.The funds raised will be primarily used for the research and development of Faber Xintian's existing pipeline and the construction of a radiopharmaceutical industrialization base.。

The Tongfu Fund was jointly initiated by China Isotope & Radiation Corporation (CIRC) and CNNC Capital, in partnership with the National Civil-Military Integration Fund and local Beijing government entities. The fund focuses on industrial investments in the field of nuclear technology applications, covering areas such as radionuclide manufacturing, radioactive sources, radiopharmaceuticals, medical devices, in vitro diagnostics, healthcare services, and industrial irradiation applications. Its investment focus and industrial resources are highly aligned with the development strategy of Faber New Sky, laying a solid foundation for future in-depth industrial synergy between the two parties.

Wang Chun, CEO of Farber New SkyStatement: We extend our sincere gratitude to China Isotope & Radiation Corporation (CIRC) Fund for its recognition of Faber New Sky’s existing pipeline, R&D direction, and commercialization capabilities. It is a great honor for us to receive support from an industry fund with national backing. The completion of this financing marks a new chapter in our collaboration, following the signing of a strategic agreement between Faber New Sky and Atom High-Tech. Both parties have reached a high level of consensus on industry development trends, their respective strengths, and key areas for future in-depth cooperation. With the strong support of CIRC Fund and its underlying industrial resources, Faber New Sky will remain true to its original aspirations, uphold an objective and rigorous scientific attitude, continuously enhance its R&D capabilities and comprehensive strength, and launch more high-quality products. Mindful of the trust placed in us, we feel a profound sense of responsibility. We will maintain our consistent approach—being down-to-earth while aiming high—to achieve substantial breakthroughs in genuine source innovation. Meanwhile, we look forward to fully leveraging both parties’ deep understanding of the industry in the near future to establish a model business case for the industrialization of radiopharmaceuticals.

Farber Xintian is an R&D-focused company specializing in molecular imaging diagnostics and radiopharmaceutical therapy.Currently, among the company’s mature pipeline under development, the diagnostic product ultrasound contrast agent (PMD11) has completed Phase III registration clinical trials, with a New Drug Application (NDA) expected to be submitted in 2025. The broad-spectrum tumor diagnostic imaging agent (PMD12) has completed patient enrollment for its Phase I registration clinical trial, and related studies are being actively advanced. Two therapeutic products (PMD32 and PMD33) have obtained or are about to obtain investigator-initiated clinical data, with Investigational New Drug (IND) applications expected to be submitted in 2025. Based on thorough preliminary project feasibility studies and a solid R&D foundation, the company’s existing and soon-to-be-launched clinical products demonstrate clear application scenarios and value, with well-defined commercialization pathways, positioning them to achieve substantial commercial returns in the future.

Upholding a pragmatic and truth-seeking approach, Faber New Sky has continuously increased its R&D investment while launching high-certainty diagnostic products, successfully establishing two proprietary R&D platforms with capabilities for expansion and iteration. Among them, the R&D platform Pharmadax^®Ⅰ As an open-source platform for screening and labeling targeted radiopharmaceuticals, its target molecules initially focused on nanobodies. After two years of meticulous refinement and aided by CADD technology, the scope has gradually expanded to encompass various types, ranging from nanobodies to scaffold proteins and peptides. R&D Platform: Pharmadax^®II. Focus on Radiopharmaceutical Therapy for Solid TumorsThis segment focuses on radiopharmaceutical therapy for solid tumors, aiming to identify products with superior druggability by incorporating a wider variety of therapeutic radionuclides, while also exploring innovative combination regimens with immunotherapy. The company expects to launch 6 to 8 new pipeline products between late 2024 and the first half of 2025, and will continue to optimize its R&D platform over the next two to three years to build comprehensive capabilities in target molecule diversity, diverse labeling strategies, and a broad spectrum of radionuclides.

To further optimize and refine its industrial layout, Faber Xintian completed its relocation to Haiyan County, Jiaxing City, Zhejiang Province, in October 2023. The company is planning and constructing Class A radioactive research and development and production facilities, actively integrating into Haiyan County’s comprehensive master plan for a thousand-mu, hundred-billion-yuan isotope industry cluster. With preliminary preparations now complete, construction is imminent. The foundational infrastructure for the Phase I plant is expected to be completed by the end of 2025, providing robust support for the company’s long-term development.