Eli Radiopharma Completes Series A Financing of Nearly RMB 400 Million to Advance Innovative Radiopharmaceutical Pipeline Toward Clinical Development

HANGZHOU, China, Nov. 11, 2026 /PRNewswire/ -- Hangzhou Eli Radiopharma Co., Ltd. ("Eli Radiopharma", or "the Company"), an innovative radiopharmaceutical company focused on integrated diagnostics and therapeutics for oncology and neurological diseases, today announced the completion of a Series A financing round of nearly RMB 400 million. The round was led by Huagai Capital, with Bayland Capital as co-lead investor, and participation from Boyu Ventures, Delian Capital, InnoPinnacle Fund, Haibang Venture, Bairui Capital, Shenzhen Angel FOF Management, and Grand Flight Investment. Existing shareholders CSPC & Growth Bio Fund, Huaige Capital, KHK Fund, Longfeng Venture, Hongsheng Capital, Bioclub Fund, and Skyfield Capital also participated in the round.

The proceeds will primarily support the advancement of the Company's core innovative pipeline toward clinical development. Funding will be directed toward preclinical research, clinical trial applications, and early-stage clinical development, alongside further investment in R&D platforms, talent acquisition, and the Company's clinical and business development. The financing will provide strong support for the continued advancement of the Company's pipeline and its long-term growth. To date, the Company has advanced multiple programs targeting novel molecular targets through lead discovery and in vitro and in vivo validation, with promising target specificity and drug development potential. Several programs are approaching IND submission.

"The completion of this financing round marks an important milestone in Eli Radiopharma's development and reflects our investors' confidence in our R&D strategy, technological capabilities, and long-term vision," stated Dr. Feng Yu, Founder and CEO of Eli Radiopharma. "Moving our pipeline toward the clinic is a critical next step in translating our research into meaningful advances for patients. This financing will support our efforts to advance our lead programs through preclinical development and regulatory milestones, bringing differentiated radiopharmaceutical candidates closer to clinical evaluation. We remain focused on addressing unmet clinical needs and strengthening our R&D and clinical development capabilities, with the goal of delivering precision diagnostic and therapeutic options for patients with cancer and neurological diseases."

Cynix Wang, Chief Investment Officer of Healthcare at Huagai Capital, said, "Radiopharmaceuticals represent an exciting area of innovation at the intersection of molecular targeting, radionuclide technology, and precision theranostics. As the field continues to advance, expanding clinical applications, progress in therapeutic radionuclides, and the development of novel targets and differentiated pipelines are creating new opportunities for the radiopharmaceutical industry. The two BD deals in 2026 involving multinational pharmaceutical companies and Chinese radiopharmaceutical innovators further underscore the growing global recognition of China's innovation capabilities and the significant potential for international partnerships. We are encouraged by Eli Radiopharma's focused approach to radiopharmaceutical R&D and its ability to advance novel candidates into clinical development. Our investment reflects our confidence in the Company's scientific capabilities and long-term potential. We look forward to supporting the advancement of its pipeline and helping translate promising science into clinical applications, while contributing to the broader advancement of the radiopharmaceutical field."

Xi Zou, Director and Project Lead at Bayland Capital, commented: "Bayland Capital has long been closely following innovations in the global radiopharmaceutical sector and strongly recognizes the clinical value and growth potential of radioligand therapy (RLT). We believe that, as more innovative therapies gain regulatory approval, RLT will play an increasingly important role in the treatment of a broad range of solid tumors. Eli Radiopharma has demonstrated distinct competitive strengths in its R&D strategy, innovation capabilities, and development efficiency. The company continues to expand its team, strengthen its technology and development capabilities, and steadily advance its global strategy. We are confident in Eli Radiopharma's potential to build a globally competitive pipeline of innovative radiopharmaceuticals and deliver meaningful clinical value in international markets, including the US and Europe. Bayland Capital is delighted to co-lead this financing round. Looking ahead, we will continue to support Eli Radiopharma in expanding its technology platforms, accelerating the clinical development of its lead programs, and advancing differentiated, globally competitive radiopharmaceuticals, helping bring China-originated innovation to patients worldwide."

Yilun LIU, Partner of Boyu Ventures, said, "Radiopharmaceuticals hold significant potential to advance precision diagnostics and therapeutics. Eli Radiopharma is building a differentiated pipeline targeting oncology and neurological diseases with a clear focus on addressing unmet clinical needs. We believe the Company's scientific expertise and R&D capabilities provide a strong foundation for advancing its pipeline toward clinical development. We look forward to seeing Eli Radiopharma progress its innovative programs and translate its research into meaningful clinical value for patients."

About Huagai Capital

Huagai Capital was founded in 2012 as a private equity investment firm jointly established by a group of professionals from leading investment institutions in China and overseas. With the vision of "becoming the most trusted capital partner for entrepreneurs and investors", the firm focuses on the two major sectors of healthcare and technology and is committed to helping small and medium-sized enterprises grow into industry leaders. Its cumulative assets under management stand at approximately RMB 35 billion, and it has successfully cultivated 34 listed companies.

About Bayland Capital

Established in 2019 and backed by Pharmaron, Bayland Capital is a life sciences-focused investment firm with a global investment perspective. Leveraging Pharmaron's industry expertise and the team's extensive experience in scientific research, business management, and capital markets, Bayland Capital invests in leading life sciences R&D service providers, innovative technology platforms, biotechnology companies, and medical device companies worldwide. Bayland Capital is committed to serving as a bridge connecting life sciences innovation, the healthcare industry, and capital, and to being a trusted long-term partner in advancing healthcare innovation.

About Boyu Ventures

Boyu Ventures was co-founded by Boyu Capital together with young entrepreneurs and seasoned investors, with a focus on early-stage investments in frontier technology and life sciences. Drawing fully on Boyu's strengths in capital, industry expertise, insight, and organizational capability, Boyu Ventures brings together resources to empower its portfolio companies, standing alongside founders as they navigate fast-changing markets and build for long-term success. Boyu Ventures firmly believes that a diverse team sparks fresh thinking and brings complementary strengths, enabling it to uncover the most compelling investment opportunities in an ever-changing world. The firm is dedicated to discovering entrepreneurs with a genuine capacity for original innovation, and to partnering with them as they grow into cornerstones of the new economy.

About Delian Capital

Founded in 2011, Delian Capital has consistently focused on investments in technology and innovative healthcare. The firm targets key sectors such as Intelligent Equipment, Artificial Intelligence (AI), Semiconductors, Energy Technology, Innovative Drugs, Medical Technology (MedTech), and Neuroscience.Delian Capital has invested in over 100 projects，including Rokae Robotics, Mech-Mind, X-Square, DIFY.AI, Silicontent, ARCHIWAVE, Macrotest , Zendure, VelaVigo, AMUNIX, Venus Medtech, Core Medical, Mindtrix, and BCI-SONICS.

About InnoPinnacle Fund

Started in 2021, InnoPinnacle Fund is a specialist biotech VC fund established by Innovent Biologics, a leading biopharmaceutical company listed on Hong Kong Stock Exchange (HKEX. 01801). InnoPinnacle focuses on high-growth opportunities in the biotech sector. We aim to accelerate groundbreaking innovations in life sciences to improve human health, while establishing ourselves as the premier global biotech-focused investor.

About Haibang Venture

Connecting Global Talent with Opportunities to Build and Innovate. Haibang Venture founded in 2011, is China's first venture capital firm dedicated to supporting entrepreneurship among overseas-returned talent. Haibang Venture manages nearly 40 funds with approximately RMB 8 billion in assets under management. It has invested in over 160 companies, nearly 100 of which were founded by high-caliber talent, with 29 achieving IPOs or M&A exits. Guided by its "Talent + Technology" investment philosophy, Haibang Venture focuses on life sciences and healthcare, information technology, and advanced materials and high-end manufacturing, investing primarily in hard-tech ventures founded by outstanding talent from China and abroad and aligned with China's strategic emerging industries.

About Shenzhen Angel FOF Management

Shenzhen Angel FOF Management Co., Ltd. ("Shenzhen Angel FOF Management") was jointly established by Shenzhen Investment Holdings Co., Ltd. and Shenzhen Capital Group Co., Ltd. Guided by its mission to "invest early, invest small, and invest in hard technology," Shenzhen Angel FOF Management embraces long-termism and fosters patient capital, operating three core business lines: sub-fund investment, direct investment, and innovation ecosystem development. It manages the largest angel investment government guidance fund in China, with over 100 sub-funds launched and more than 1,000 technology companies empowered.

About Bairui Capital

Bairui Capital is an early-stage venture capital dedicated to backing disruptive innovation with a long-term investment vision. We invest in frontier technology sectors, including AIGC & infrastructure, embodied intelligence, and AI-powered life sciences. We seek to identify and capture the most consequential technological shifts of our time, with a particular focus on emerging computing paradigms that are fundamentally reshaping both software and hardware.

About Grand Flight Investment

Grand Flight Investment is an alternative investment platform sponsored principally by Far East Horizon (HKEX: 3360) and managed by a dedicated team of investment professionals. Guided by its core investment philosophy — "Finance Empowers Growth, Industry Creates Value" — the firm invests in high-quality, growth-stage companies in China, focusing on healthcare, commercial aerospace, and embodied AI. Post-investment, it works closely with portfolio companies to connect them with the financial and industry resources they need to create value.

About Eli Radiopharma

Eli Radiopharma, founded in 2024, is a radiopharmaceutical company focused on the innovation and development of next-generation radiopharmaceuticals and advanced technology applications. Driven by its core value of "innovation-driven precision medicine", Eli Radiopharma is dedicated to delivering theranostic solutions for oncology and neurological diseases. By combining molecular targeting with radionuclide technology, the Company is committed to developing safe and cutting-edge radiopharmaceuticals to enable precise diagnostics and effective treatments, ultimately improving the health and longevity of patients worldwide.

SOURCE Hangzhou Eli Radiopharma Co., Ltd.