RayThera Raises $110 Million in Series A Financing

Financing will support advancement of preclinical immunology pipeline

RayThera, Inc., a recently founded biotechnology company currently focused on discovering and developing small molecule therapies in immunology, announced today that it has completed its Series A financing, with a total of $110M raised. The financing was co-led by Foresite Capital and OrbiMed Advisors, with participation from TTM Capital. Proceeds from the financing will be used to advance RayThera’s lead drug candidates through Phase 1 clinical studies.

Co-founded by Qing Dong, Ph.D., and Gene Hung, M.D., the company is led by a team of highly skilled drug hunters and executives with an extraordinary track record in the biotech and pharma industries.

“We are grateful for the strong support from our investors, the same syndicate who funded our previous venture, XinThera,” said Qing Dong, co-founder, chairman and CEO of RayThera, “Their continued backing is instrumental as we advance our pipeline.”

“I’ve been impressed with the progress that the RayThera team has made in such a short time,” commented Michael Rome, Ph.D., Foresite Capital’s Partner and member of RayThera’s board of directors. “Our ongoing collaboration with this skilled team exemplifies our commitment to back repeat entrepreneurs who have strong track records partnering with us.”

“We are proud to continue our partnership with this incredibly talented team as they work to develop first-in-class and best-in-class therapies in areas of high unmet need,” remarked Carl Gordon, Ph.D., CFA, General Partner at OrbiMed and member of RayThera’s board of directors.

About RayThera, Inc.

RayThera, Inc. is a small molecule drug discovery company focused on building an immunology pipeline. RayThera is based in San Diego, CA.

For more information, visit www.raythera.com.

About Foresite Capital

Foresite Capital is a multi-stage healthcare and life sciences investment firm with more than $3.5 billion in assets under management. The firm aims to address areas of unmet medical need by funding promising healthcare and life sciences businesses at all stages of their life cycles. Founded in 2011, Foresite Capital is based in the San Francisco Bay Area, Los Angeles, and New York City. For more information, please visit www.foresitecapital.com.

About OrbiMed Advisors

OrbiMed is a global investment firm that invests in companies engaged in the discovery and development of biopharmaceutical products, medical technologies, medical devices, diagnostics, drug discovery tools, and healthcare information technology and services companies.

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“We are grateful for the strong support from our investors, the same syndicate who funded our previous venture, XinThera,” said Qing Dong, co-founder, chairman and CEO of RayThera, “Their continued backing is instrumental as we advance our pipeline.”