New RadioMedicine Technology Raises Over 300 Million Yuan in Series C Funding

New RadioMedicine Technology, a leading healthcare company specializing in the research, development, and industrialization of radiopharmaceuticals, has successfully secured over 300 million yuan in Series C funding. The latest funding round was jointly invested by Chengdu Venture Capital, Chengdu Biotech City Fund, Chuan Venture Capital, as well as existing shareholders such as Huaxing Kangping, Xinjun Capital, and Xingkong Capital. This substantial investment will be utilized to advance critical alpha particle research and development, innovative nuclear medicine studies, and the construction of the 30MeV accelerator project. New RadioMedicine Technology aims to further establish itself as a global platform for the production and innovation of medical isotopes and nuclear medicine.

New RadioMedicine Technology's Contribution to the Industry:

Founded in 2016, New RadioMedicine Technology has emerged as a leading enterprise in the field of radiopharmaceuticals, integrating research, innovation, and industrialization. The company focuses on the development, production, and sale of medical isotopes used in diagnosis and treatment. Additionally, New RadioMedicine Technology offers services in technological innovation, radiation pharmaceutical trading, and international collaborations. Nuclear medicine presents significant advantages, such as integrated diagnosis and therapy and minimal side effects, making it a burgeoning market with immense growth potential. According to Frost & Sullivan, the domestic radiopharmaceutical market in China exhibited a compound annual growth rate (CAGR) of 12.1% from 2013 to 2017, surpassing traditional Chinese medicines and chemical drugs and only trailing behind biopharmaceuticals. It is estimated that the market will continue to grow, with a projected compound annual growth rate of 21.4% from 2023 to 2027, exceeding a market size of over 10 billion yuan by 2026.

New RadioMedicine Technology's Achievements and Future Plans:

As a pioneer in the field of medical isotopes and innovative nuclear medicine in China, New RadioMedicine Technology has established the world's largest research and development base for medical isotopes and pharmaceuticals. Isotopes such as Yttrium-90 (90Y) and Lutetium-177 (177Lu) have already entered the market, while the domestically developed Germanium-68 (68Ge)/Gallium-68 (68Ga) generator has become a substitute for imported products. Supported by the radioactive microsphere technology platform and coupled drug research technology platform, New RadioMedicine Technology has made significant progress in the research and clinical trials of more than ten innovative nuclear medicine pipelines.

Expressing gratitude for the investors' trust and support, Deng Ying, the CFO of New RadioMedicine Technology, underlined the company's commitment to the development of medical isotopes.

Taking advantage of the support provided by policies such as the "Medium- and Long-Term Development Plan for Medical Isotopes (2021-2035)" and the "Sichuan Province Action Plan for the Development of Medical Isotopes and Radiopharmaceuticals (2022-2025)," the nuclear medicine industry in China has entered a new era. New RadioMedicine Technology, as an innovative enterprise in the field of medical isotopes and nuclear medicine, aims to collaborate with professionals in the nuclear technology and medical fields to intensify efforts in developing medical isotopes, overcoming barriers in the development of alpha particles like Actinium-225 (225Ac) and Lead-212 (212Pb), and creating more innovative nuclear medicine products for the betterment of society.

New RadioMedicine Technology's successful completion of the Series C funding round demonstrates the confidence and support of investors in the company's vision and potential. With a focus on advancing alpha particle research, innovative nuclear medicine studies, and global platform expansion, New RadioMedicine Technology is well-positioned to contribute significantly to the field of radiopharmaceuticals and nuclear medicine. The company's dedication to research and development, coupled with the favorable market trends, holds great promise for New RadioMedicine Technology's future success and its contributions to the healthcare industry at large.