RayThera

RayThera has collected $110 million in a Series A raise to help it advance a preclinical pipeline of small molecule drugs for immunological diseases. The San Diego-based biotech will use the proceeds to bring its lead programs through Phase 1 clinical trials, it said in a Friday release . RayThera has three anti-inflammatory candidates in its pipeline . The most advanced is in preclinical development, with the other two at the lead optimization and lead generation stage. RayThera was founded in August 2023 by Qing Dong and Gene Hung, who are acting as the company’s CEO and chief scientific officer, respectively. The two biotech entrepreneurs previously co-founded an oncology and inflammation biotech called XinThera together with others. XinThera was acquired by Gilead in May 2023 as part of a deal with undisclosed terms. Gilead was drawn to the biotech’s oral small molecule PARP1 inhibitors, both of which were nearing the clinic at the time of the transaction. Less is known about the latest venture to follow XinThera — RayThera hasn’t shared the indications it’s targeting or how its candidates work. The biotech has only said that it plans to focus on preclinical work with a “nimble” approach that it hopes can speed up the drug discovery process. The financing was co-led by Foresite Capital and OrbiMed Advisors with support from TTM Capital.