PharmadaX Therapeutics Completes First Tranche of Series A Financing Round Amounting to Approximately RMB 100 Million

Recently, Jiaxing Faber New Tian Pharmaceutical Technology Co., Ltd. (hereinafter referred to as "Faber New Tian") announced the completion of the first closing of its Series A financing round, amounting to approximately RMB 100 million. The round was led by Zhuhai Cloudview Asset Management Co., Ltd., with participation from Caitong Capital Investment Co., Ltd. and strategic investors. The funds raised will be utilized to advance clinical studies and prepare for the commercial launch of mature pipeline candidates, upgrade and enhance the R&D platform, and support preclinical and clinical development of subsequent innovative pipeline products.

Wang Tong, Partner and Chief Operating Officer of Farber New Sky, stated that in recent years, with the continuous improvement and innovation of related technologies, the performance of radiopharmaceuticals in clinical treatment and diagnosis has gained increasingly widespread recognition. Globally, prominent pharmaceutical companies are actively positioning themselves in the nuclear medicine market. Domestically, driven by favorable policies such as the Medium- and Long-Term Development Plan for Medical Isotopes (2021–2035), the nuclear medicine market is exhibiting a robust upward trend. We are deeply grateful to be part of this landscape and remain committed to our mission.

We extend our heartfelt gratitude to Zhuhai Cloudview Asset Management Co., Ltd., Caitong Capital Investment Co., Ltd., and all our new and existing shareholders for their steadfast support. We are deeply impressed and profoundly honored by your profound insights into the field of nuclear medicine, your discerning selection of investment targets, and your strong endorsement of Faber New Sky’s business model and R&D pipeline.

Farber New Sky, established in 2016, is an innovative drug R&D company specializing in molecular imaging diagnostics and radiopharmaceutical therapy, and also owns PharmadaX.^®Ⅰ. High-efficiency target molecule screening and site-specific radiolabeling platform, and PharmadaX—a globally leading approach combining proximity therapy with immunotherapy^®Ⅱ Platform, upon which a highly competitive and differentiated R&D pipeline has been established, with products covering both diagnostic and therapeutic agents.

Upholding its corporate values, Faber New Sky adheres to a philosophy of prudent operation. The company independently develops its product pipeline, starting with molecular imaging diagnostics and gradually transitioning to radiopharmaceutical therapies, leveraging over a decade of industry experience and deep insights to guide R&D planning. While aiming high, it remains grounded in practical execution.

The company has a pipeline of more than ten theranostic product candidates. Among them, PMD11 has completed Phase III clinical trials and achieved impressive results. PMD12, which recently initiated Phase I clinical studies, is a radiopharmaceutical developed to meet the needs of medical institutions at all levels across China and align with Chinese health economic requirements. It focuses on diagnosis to support the goals outlined in the Medium- and Long-Term Development Plan for Medical Isotopes (2021–2035), which calls for accelerating the development of nuclear medicine departments, achieving full coverage in tertiary general hospitals by 2025, and realizing “one department and one scanner per county” by 2035. PMD12 has already secured patent protection in major countries worldwide, with the future aim of serving patients globally. Two blockbuster radiopharmaceutical therapies are expected to complete preclinical work between late 2024 and early 2025, followed by applications for registrational clinical trials. As these milestones are achieved, the company will transition from an early-stage R&D focus to a phase emphasizing both product commercialization and continued research and development.

In the second half of 2023, Faber Xintian signed an agreement to establish its presence in Haiyan, Jiaxing, the cradle of China National Nuclear Corporation. This move marks Faber Xintian’s commitment to taking root in the fertile ground of nuclear medicine, supporting Haiyan County in realizing its ambitious blueprint for a “1,000-mu, 100-billion-yuan” medical isotope industry, while basing itself in China to serve the global market.