ELI RADIOPHARMA: Closes Nearly RMB 400 Million A Round Led by Huagai Capital, Moving Radiopharmaceutical Pipeline Toward Clinic

NewTimeSpace News: On 12 November 2026, Hangzhou Eli Radiopharma Co., Ltd. (Eli Radiopharma, unlisted) announced the completion of a Series A financing round of nearly RMB 400 million, led by Huagai Capital with Bayland Capital as co-lead investor, and with 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 exact amount and post-money valuation were not disclosed. Proceeds will support preclinical research, clinical trial applications and early-stage clinical development, and further investment in R&D platforms, talent acquisition, and clinical and business development.

Eli Radiopharma was founded in 2024 and focuses on integrated radiopharmaceutical diagnosis and therapy for oncology and neurological diseases, combining molecular targeting with radionuclide technology to develop both diagnostic and therapeutic agents. Its founder and chief executive is Dr. Feng Yu. The company had raised several earlier rounds; according to PharmaCube, it closed a RMB 100 million-level angel round in December 2024, an angel-plus round of above RMB 100 million in September 2025 and a further round of nearly RMB 100 million in March 2026.

On pipeline progress, the company says multiple programs targeting novel molecular targets have advanced through lead discovery and in vitro and in vivo validation, with promising target specificity and drug development potential, and that several programs are approaching IND submission. Part of the proceeds will also go to clinical development capability and international expansion.

Investors framed their views around the sector's industrial position. Cynix Wang, Chief Investment Officer of Healthcare at Huagai Capital, said radiopharmaceuticals sit at the intersection of molecular targeting, radionuclide technology and precision theranostics, and that the two BD deals in 2026 involving multinational pharmaceutical companies and Chinese radiopharmaceutical innovators underscore growing global recognition of China's innovation capability. Xi Zou, Director and Project Lead at Bayland Capital, said the clinical value of radioligand therapy will grow as more innovative therapies gain approval. Yilun LIU, Partner of Boyu Ventures, said the company is building a differentiated pipeline targeting oncology and neurological diseases.