Exclusive: Eli Radiopharma Completes Nearly RMB 400 Million Series A Financing, Accelerating Its Innovative Radiopharmaceutical Pipeline Toward Clinical Stages

VCBeat has learned that on November 12, Hangzhou Eli Radiopharma Co., Ltd. ("Eli Radiopharma"), an innovative radiopharmaceutical research and development company focused on integrated diagnosis and treatment of oncology and neurological diseases, announced the completion of nearly RMB 400 million in Series A financing.

The round was led by Huagai Capital, with Bayland Capital as co-lead investor. Boyu Ventures, Delian Capital, InnoPinnacle Fund, Haibang Venture, Bairui Capital, Shenzhen Angel FOF Management, and Grand Flight Investment participated as joint investors. Existing shareholders CSPC & Growth Bio Fund, Huaige Capital, KHK Fund, Longfeng Venture, Hongsheng Capital, Bioclub Fund, and Skyfield Capital continued to increase their stakes.

The proceeds will primarily be used to advance the company's core innovative pipeline into the clinical stage, supporting preclinical research, IND applications, and early-stage clinical development of candidate drugs. The company will also strengthen its research and development platform and talent team, and continuously enhance its clinical development capabilities and international expansion capacity, providing robust support for the sustained progress and long-term growth of its radiopharmaceutical pipeline.

The company has completed multiple rounds of financing. For several target candidate molecules, lead compound discovery and in vitro and in vivo validation have been completed, demonstrating favorable target specificity and drug development potential. Some projects are poised to advance toward IND submissions.

Dr. Feng Yu, Founder and CEO of Eli Radiopharma, stated: "The completion of this financing round marks a significant milestone in Eli Radiopharma's development, reflecting investors' recognition of the company's research and development direction, technological expertise, and long-term strategic vision. For innovative pharmaceutical companies, advancing from research to clinical trials is a critical step in validating product value and addressing unmet clinical needs. Leveraging this financing, we will further focus on our core pipeline, systematically advancing preclinical studies, regulatory filings, and clinical development of candidate drugs, and accelerating the entry of innovative projects with differentiated potential into clinical stages. Going forward, Eli Radiopharma will continue to take a clinical-need-oriented approach, continuously enhancing its independent research and development and clinical translation capabilities, and providing more precise diagnostic and therapeutic options for patients with oncological and neurological diseases."

Cynix Wang, Chief Investment Officer of Healthcare at Huagai Capital, stated: "Radiopharmaceuticals integrate cutting-edge fields such as molecular targeting, radionuclide technology, and precision diagnosis and therapy, representing a direction with significant development potential in the innovative drug industry. As the clinical applications of radiopharmaceuticals continue to expand, therapeutic radionuclide technologies advance, and more innovative targets and differentiated pipelines are developed, the industry's market space and growth potential are being further unlocked. Notably, 2026 saw the first two BD deals between multinational corporations (MNCs) and Chinese innovative radiopharmaceutical companies, signaling broad prospects for global expansion. We are optimistic about Eli Radiopharma's strategic layout in innovative radiopharmaceuticals, its team's ability to continuously conduct research and development around core pipelines and drive clinical translation, and its ongoing recruitment of top international talent. This investment is not only an endorsement of the company's current research and development work but also support for its long-term innovation potential. We look forward to leveraging the synergy between capital and industrial resources to help Eli Radiopharma accelerate the development and clinical progression of its core pipelines, jointly exploring the application value of radiopharmaceuticals across a broader range of disease areas."

Xi Zou, Director and Project Lead at Bayland Capital, stated: "Bayland Capital has long followed the development of the global innovative radiopharmaceutical sector and highly recognizes the clinical value and growth potential of radioligand therapy (RLT). We believe that as more innovative products gain approval and reach the market, RLT is poised to play an increasingly important role in treating various solid tumors. Eli Radiopharma has demonstrated outstanding competitive advantages in its research and development strategy, innovation capabilities, and development efficiency. The team continues to expand, its technology and development capabilities keep improving, and its international layout is steadily advancing. We are optimistic about Eli's potential to build an original radiopharmaceutical pipeline with global competitiveness and create clinical value in international markets such as Europe and the United States. Bayland Capital is honored to co-lead this round. Going forward, we will continue to support Eli in expanding its technology platform, accelerating the clinical translation of its core pipeline, and developing innovative radiopharmaceuticals with differentiated strengths and international competitiveness, helping Chinese original radiopharmaceuticals enter the global market."

Yilun Liu, Partner at Boyu Ventures, stated: "We continue to closely monitor innovative developments in radiopharmaceuticals and their potential in precision diagnosis and therapy. Eli Radiopharma has strategically built an innovative pipeline focused on oncology and neurological disorders, demonstrating a deep understanding of clinical needs and a strong commitment to long-term research and development value. We are optimistic about the company's strategic plans to further advance its core candidate drugs and accelerate clinical translation. We look forward to Eli Radiopharma continuing to leverage its technology and research and development strengths, enhancing the clinical value and commercialization potential of its innovative pipeline, and injecting new momentum into the radiopharmaceutical sector."