C Ray Therapeutics Completes Over $100 Million Series A+ Financing, Jointly Led by SCGC and TaiLong Capital

CHENGDU, China, Nov. 18, 2024 /PRNewswire/ -- In November 2024, C Ray Therapeutics (Chengdu) Co., Ltd. (hereinafter referred to as "C Ray"), an innovative enterprise in the field of radiopharmaceuticals, announced the completion of its Series A+ financing round exceeding $100 million. This round was co-led by Shenzhen Capital Group Co., Ltd.'s Manufacturing Transformation and Upgrading New Materials Fund (referred to as "SCGC") and TaiLong Capital, with participation from several renowned institutions and industry players including GL Ventures, 3SBio (01530.HK), Guanghua Wutong, and a well-known industrial investment institution. WinX Capital acted as the exclusive financial advisor for this transaction.

Amidst a backdrop of global economic downturn and increasingly cautious investment trends in the pharmaceutical sector, this milestone achievement further highlights C Ray's comprehensive strength and development potential in the research, development, production, and clinical application of radiopharmaceuticals.

The main purpose of this round of financing is to further improve the company's core technology platforms, such as targeted ligand discovery, upgrade the high-throughput screening capabilities for innovative RDC drugs, accelerate the clinical development process of multiple internationally leading R&D pipelines, especially alpha-emitting RDC drugs, and bring more effective treatment options to patients worldwide.

Radiopharmaceuticals are a specialized class of drugs that incorporate radioactive isotopes into specific molecules. These drugs leverage the distinct energy-level rays emitted by different isotopes to either visualize or destroy tumors, thereby integrating diagnosis and therapy. As modern medicine's demand for precise diagnostics and treatments continues to grow, radiopharmaceuticals have demonstrated significant potential across various fields, including oncology, cardiovascular diseases, and neurological disorders. In 2023, Novartis successfully launched two radioligand therapy drugs, achieving substantial commercial success. Meanwhile, Lilly acquired nuclear medicine company Point for $1.4 billion, and BMS invested $4.1 billion in acquiring RayzeBio, further underscoring the market appeal and promising future of the radiopharmaceutical sector.

C Ray Therapeutics, established in 2021 and headquartered in Chengdu Medical City, is incubated by internationally renowned investment institutions 6 Dimensions Capital. Since its establishment, C Ray has been dedicated to the field of radiopharmaceuticals, aiming for world-class standards. Within just over three years, the company has achieved a series of landmark accomplishments:

C Ray Therapeutics has established notable advantages in the radiopharmaceutical industry:

Statement from C Ray Therapeutics' Board of Directors / Management Team:
We extend our heartfelt gratitude to the investors who have provided strong support in this round of financing, as well as to our existing shareholders for their consistent trust. C Ray Therapeutics has now entered a critical phase of rapid development. With the successful launch of our Class A production base, the smooth progress of IIT/clinical trials, overseas business development, and CRDMO services, we are confident that, with the trust and support of our shareholders, C Ray Therapeutics will accelerate the development of innovative radiopharmaceuticals, technologies, and service platforms that maximize benefits for patients. Our goal is to become a leading innovative radiopharmaceutical enterprise not only in China but also globally.

Statement from Shenzhen Capital Group Co., Ltd. (SCGC):
High-end drug carriers have become one of the key technologies in the development of global biomedical technology in recent years. In the field of precision diagnosis and treatment of tumors, the new generation of Radionuclide Drug Conjugates (RDCs) utilize targeted high-end drug carrier materials to conjugate radioactive medical isotope materials, accurately being delivered to the patient's non-metastatic or metastatic tumor tissue for tumor diagnosis and treatment. We are optimistic about C Ray Therapeutics 's innovative capabilities and market prospects, and we also look forward to the company achieving greater breakthroughs in the field of healthcare.

Statement from TaiLong Capital:
In recent years, innovative radiopharmaceuticals have seen rapid development, with continuous breakthroughs in foundational, clinical research, and translational applications. The Chinese radiopharmaceutical industry is steadily advancing and improving, Tailong Capital has also made multiple strategic deployments in investments within this field. We are honored to partner with a company like C Ray Therapeutics, which possesses a spirit of innovation and comprehensive strength. In the future, we look forward to deepening our cooperation with C Ray in areas such as radiopharmaceuticals development and clinical trials, jointly driving the innovation and development of this field.

Statement from GL Ventures:
C Ray Therapeutics boasts unique advantages in the field of radiopharmaceutical R&D, including the ability to integrate and streamline the nuclear industry supply chain. The company has rapidly established a comprehensive industrial system for R&D, production, and supply chain management, thanks to its experienced and efficient execution team. The radioactive biomedicine industry has broad prospects. We believe that under the leadership of the founding team, C Ray Therapeutics will continue to innovate in radiopharmaceutical technology and build a service platform, thereby benefiting a wide range of patients and creating value.

Statement from 3SBio:
In recent years, with the evolving of the nuclear medicine research in China, radiopharmaceuticals have gradually shown a broad development prospect and become a highly hot investment area. Joining the investment in C Ray Therapeutics is in line with 3Sbio's strategy to explore promising collaboration projects. As a local biopharmaceutical company, we look forward to promoting the R&D of innovative radioactive drugs through this collaboration, helping physicians and patients in China benefit from these brand new therapies.

Statement from Guanghua Wutong:
Since 2021, Wenjiang District, Chengdu City has leveraged the advantages of Sichuan Province as a major nuclear industry province to take a forward-looking approach in the field of radiopharmaceuticals, aiming to create a national-level hub for the radiopharmaceutical industry. C Ray Therapeutics has become one of the benchmark enterprises in Wenjiang's radiopharmaceutical field. We look forward to the company continuing to delve deeply into Wenjiang, and becoming a world-class platform for research and development, manufacturing, and commercialization in the radiopharmaceutical industry at an early date. This will help to promote the academic development of radiopharmaceuticals and make a greater contribution to the biopharmaceutical industry.

Statement from WinX Capital:
Deeply honored to have served as the exclusive financial advisor for C Ray and to have successfully brought this significant financing round to a close. We are grateful for the trust and recognition from C Ray's board of directors and management. Innovative radiopharmaceuticals represent one of the fields with the highest potential for blockbuster drugs and significant barriers to entry. C Ray Therapeutics has demonstrated clear advantages in integrating the industry chain. We believe that this round of financing will inject strong momentum into the company's development, propelling its strategic layout on a global scale.

About Shenzhen Capital Group Co., Ltd. (SCGC)
Established in 1999 with capital contributions from the Shenzhen municipal government and social capital, Shenzhen Capital Group Co., Ltd. (SCGC) is committed to discovering and nurturing great enterprises. SCGC aims to be a discoverer and cultivator of innovative value, and for now has grown into a comprehensive investment group centered on venture capital. SCGC manages a total fund size of more than 480 billion yuan. The SCGC Manufacturing Industry Transformation and Upgrading New Materials Fund is a specific investment vehicle for the National Manufacturing Industry Transformation and Upgrading Fund, focusing primarily on investments in the field of new materials.

About Tailong Capital
Tailong Capital, established in 2021, is a professional equity investment management institution focusing on the fields of biomedicine, medical devices, and healthcare. The scale of the TaiKun Fund managed by Tailong Capital is 20 billion yuan. Tailong Capital has a professional and experienced investment team, focusing on biomedicine, innovative medical devices, CXO services and related innovative fields, as well as outstanding biopharmaceutical industry funds. The company is committed to building a value investment platform for the biopharmaceutical industry that is loyal to science and transcends market cycles.

About GL Ventures
GL Ventures is one of the most active venture capital platforms in China, dedicated to uncovering and creating value in innovative companies, especially in key areas such as new technologies, new energy, new materials, and new consumption. We are committed to providing systematic DVC (Deep Value Creation) services to support the long-term development of early-stage innovative enterprises.

About 3SBio
3SBio is a leading biopharmaceutical company that integrates R&D, production, and sales, dedicated to enhancing patient survival quality and contributing to human health through high-quality medicines. The company holds over 100 national invention patents and offers more than 40 products, covering nephrology, oncology, autoimmune diseases, ophthalmology, and dermatology. 3SBio operates four R&D centers, including the National Engineering Research Center for Antibody Drugs and dual platforms for biopharmaceuticals and chemical drugs, with 28 products under development, 25 of which are national new drugs. The company has five GMP-compliant production bases. Moving forward, 3SBio will continue to uphold the philosophy of "cherishing life, caring for survival, and creating living," aiming to become a globally leading Chinese biopharmaceutical company.

About Guanghua Wutong
Guanghua Wutong is a wholly-owned subsidiary of Chengdu Guanghua Open Source Capital Management Co., Ltd., the state-owned capital operation platform of Wenjiang District, Chengdu. Adhering to the corporate philosophy of "dedication, professionalism, and sincerity," Guanghua Wutong focuses on meticulous and efficient investments, striving to build a fund ecosystem and investment service network that deeply roots in the region and radiates nationwide. The company has initiated 13 market-oriented investment funds with a managed capital scale of nearly 10 billion yuan, focusing on key industries such as healthcare, big data, and AI. It has gathered rich industrial resources in biomedicine, advanced medical care, health, big data, and smart manufacturing. The Wenjiang District Industrial Investment Guidance Fund has been selected as one of the "Top 30 Best Government Guidance Funds (District Level)" in China for 2020.

About WinX Capital
WinX Capital is a leading investment bank in the healthcare sector in China, with headquarters in Beijing and Shanghai. The company covers over 3,000 active investment institutions and industry groups. WinX Capital has received numerous accolades, including the "Top Financial Advisor in Healthcare 2022 and 2023" by First Voice, the "Best Financial Advisor in Healthcare 2021-2022" by Qiming Card & NewVoice Innovation Service, and the "Annual Top Financial Advisor in Healthcare 2022-2024" by Artery Network.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

C Ray Therapeutics Completes Over $100 Million Series A+ Financing, Jointly Led by SCGC and TaiLong Capital

C Ray Therapeutics Completes Over $100 Million Series A+ Financing, Jointly Led by SCGC and TaiLong Capital

Beckham is a strategic investor in Prenetics and Co-Founding Partner for IM8

IM8 launch marks a bold entry into the $187 billion global consumer health market

Launch follows recently announced Prenetics' acquisition of Europa, one of the largest sports nutrition distributors in the U.S.

IM8 is now available at www.IM8health.com, shipping to 31 countries

CHARLOTTE, N.C., Nov. 18, 2024 /PRNewswire/ -- Prenetics, (NASDAQ: PRE) a leading health sciences company, in partnership with David Beckham, today announced the official launch of IM8. This groundbreaking health and wellness brand introduces two premium products, Daily Ultimate Essentials and Daily Ultimate Longevity, both now available for purchase at IM8health.com, with shipping to 31 countries and regions, including free shipping to United States, United Kingdom, Canada, Singapore and Hong Kong. 

David Beckham, Co-Founding Partner of IM8 said, "Health and wellness have always been a priority for me, both on and off the field. We wanted to create something that helps people to feel their best every day—and with IM8, we've done that. We've brought together a world-leading team of scientists to create something unique and effective, and I'm excited to be able to share it with the world." David added "I have personally experienced the positive impact that IM8 has had on my health, energy and focus. Together with Prenetics, IM8 is harnessing the best of science and innovation, helping people take charge of their health and wellness."

IM8 Products:

IM8 Daily Ultimate Essentials is an advanced all-in-one powder engineered to replace the complexity of 16 separate daily supplements. It contains a robust profile of 92 nutrient-rich ingredients, highlighted by clinical doses of CoQ10 for heart health and MSM for joint & muscle support. The formula features a pioneering blend of pre-, pro-, and postbiotics to optimize gut health and nutrient absorption. Combined with essential vitamins, minerals, antioxidants, superfoods, greens, and adaptogens, it provides unmatched, comprehensive daily nutrition, — all in a delicious Acai and mixed berries drink you'll look forward to savoring every day.

Clinically Proven. Third-Party Tested

In a 12-week randomized clinical trial being conducted by the San Francisco Research Institute, IM8 Daily Ultimate Essentials demonstrated outstanding benefits in just 30 days:

The study is ongoing, but these early findings already showcase the powerful impact of IM8's 92 nutrient-rich ingredients. More details can be found on the National Library of Medicine clinicaltrials.gov link here*.

IM8 Daily Ultimate Longevity, is a daily single capsule crafted for cellular rejuvenation and healthy aging, designed to support NAD+ levels and powered by patent-pending Cell Rejuvenation Technology 8 (CRT8) ^®. Both products are Vegan, non-GMO, and contain no artificial flavors, colors, or sweeteners, making them accessible to health-conscious consumers worldwide.

Together, IM8 Daily Ultimate Essentials takes care of your "today," providing everything your body needs for peak daily performance, while IM8 Daily Ultimate Longevity ensures your "tomorrow," supporting healthy aging and cellular renewal for long-term vitality.

Danny Yeung, CEO of Prenetics / IM8 said, "We are incredibly excited to unveil IM8 to the world—a brand that represents the pinnacle of health and wellness. This journey has been fueled by our commitment to delivering unmatched quality, built on the foundation of Prenetics, backed by clinical science and third-party testing. Danny added, "Launching IM8 with David has been incredible. Together with David and our world-class Scientific Advisory Board, we've created something truly unique—products that bring the best of science, nutrition, and convenience into people's everyday lives. IM8 is more than just supplements; it's a new standard in optimal daily nutrition. We're here to help people transform their health with products they can trust and that deliver real results."

What Makes IM8 Unique
IM8 stands out with its unparalleled approach, combining premium, clinically-dosed ingredients with the guidance of a world-class Scientific Advisory Board. This exceptional team brings together expertise from academia, medicine, and space science to ensure that our formulas deliver unmatched efficacy and innovation.

Scientific Advisory Board (SAB)

IM8 Pricing Information:

Welcome launch offer: Receive a free welcome kit, including our signature red cup (valued at $28) and five free travel sachets (valued at $18).

Shipping to 31 countries and regions, with free shipping to the United States, United Kingdom, Canada, Singapore, and Hong Kong.

To get started on your health and wellness journey, please visit IM8health.com.

High-resolution images and press kit can be downloaded from:
https://IM8health.com/press

ABOUT PRENETICS

Prenetics (NASDAQ:PRE), a leading health sciences company, is dedicated to advancing consumer and clinical health. Our consumer initiative is led by IM8, a new health and wellness brand and Europa, the top sports distribution company in the USA. Our clinical division is led by Insighta, our $200 million joint venture with renowned scientist Prof. Dennis Lo, focused on multi-cancer early detection technologies. This is followed by ACT Genomics, which has achieved FDA clearance for comprehensive genomic profiling of solid tumors, and CircleDNA, which uses NGS to offer comprehensive DNA tests. Each of Prenetics' units synergistically enhances our global impact on health, embodying our commitment to 'enhancing life through science'. To learn more about Prenetics, please visit www.prenetics.com.

ABOUT DAVID BECKHAM

David Beckham was the first English football player to win league titles in four countries: England, Spain, the United States and France. His career spanned 20 years with some of the most successful clubs in the world: Manchester United, Real Madrid, AC Milan, LA Galaxy, Paris Saint-Germain and the England team, which he captained for six years.

Since retiring from football in 2013, Beckham has worked with world-leading brands including Adidas, Tudor, Hugo Boss, Stella Artois and Sands. In 2018, he became a founder and co-owner of Major League Soccer club Inter Miami CF, the culmination of his lifelong ambition to own a football club and the start of an exciting new chapter.

In 2019, David founded the content studio, Studio 99. The studio operates both editorial and commercial production, and specialises in developing and producing premium documentary features, series and formats for global platforms and networks, including Netflix, Disney+ and Amazon Prime Video. Studio 99's recent work has included the Emmy award-winning documentary series "BECKHAM" (Netflix) and the compelling documentaries "99", about Manchester United's extraordinary treble-winning season, and "Ronnie O'Sullivan: The Edge of Everything" (both for Amazon Prime Video). The studio also produces commercial content for globally recognised brands such as Nespresso, EA Sports, Tudor and Maserati.

In February 2022, Authentic Brands Group (ABG), the world's largest sports and entertainment licensing company, announced a strategic partnership with David Beckham to co-own and manage Beckham's global brand. In connection with the partnership, David Beckham became a shareholder in ABG and joined a roster of ABG's growing entertainment portfolio that includes some of the world's most celebrated athletes and iconic sports brands, such as Muhammad Ali, Shaquille O'Neal, and Sports Illustrated.

Throughout his life, Beckham has been committed to supporting charities and projects that seek to drive change for the better. In 2024, he was appointed Ambassador for The King's Foundation, which looks to nature and tradition to build thriving, sustainable communities and transform lives by offering education programmes that protect traditional skills and knowledge for future generations. He has worked with UNICEF for nearly 20 years as a Goodwill Ambassador, a role that promotes and protects the rights of the world's most vulnerable children. In 2015, David launched the 7 Fund with UNICEF—a unique partnership to give vulnerable and disadvantaged children the opportunity to reach their full potential. He also campaigns for Malaria No More, using his platform to ensure the world and its leaders hear the urgent message of the malaria fight. Additionally, in his position as Ambassadorial President of the British Fashion Council (BFC), David helps promote and nurture British fashion and the UK's creative industries.

*This statement has not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Nasdaq-Listed Prenetics and David Beckham Officially Launch IM8 Health