Tech Company Financing Transactions
RuiYi Funding Round
RuiYi, operating out of La Jolla, secured $4 million from Silicon Valley Bank.
Transaction Overview
Company Name
Announced On
6/12/2014
Transaction Type
Debt
Amount
$4,000,000
Round
Undisclosed
Investors
Silicon Valley Bank (Michael White)
Proceeds Purpose
RuiYi plans to file an IND and initiate clinical trials in multiple countries in 2015 for the company's lead asset, RYI-008, a novel anti-IL-6 mAb for rheumatoid arthritis and cancer. RuiYi will also be advancing RYI-018 into preclinical studies. Identified via RuiYi's iCAPS(TM) platform, RYI-018 is a first-in-class monoclonal antibody to cannabinoid receptor 1 (CB-1), a commercially validated but previously intractable drug target.
Company Information
Company Status
Private & Independent
Industry
Biopharmaceutical
Mailing Address
505 Coast Blvd S. 300
La Jolla, CA 92037
USA
La Jolla, CA 92037
USA
Phone
Website
Email Address
Overview
RuiYi is focused on the discovery and development of novel biologic therapeutics that meet the medical and commercial needs for China's patients and healthcare system and that have the potential to be disruptive globally.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Paul Grayson
Founder
Andrew Schwab
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Our team works diligently to report on funding rounds that are announced publicly. VC investment data records on this site are derived from news reports and company announcements. The information is sourced from VentureDeal.com, an affiliated venture.
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