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§ Private Profile · Shanghai, China
Clinical-stage biopharmaceutical company developing targeted radiopharmaceutical therapies for solid tumors in Greater China.
Ablaze Pharmaceuticals is a clinical-stage biopharmaceutical company based in Shanghai, China, with operations in San Diego, California, focused on developing targeted radiopharmaceutical therapies for cancer patients. Founded in 2021 by Dr. Alex Qiao and Dr. Ken Song, the enterprise engineers radioactive isotopes to target and destroy solid tumors, such as liver cancer, while minimizing damage to healthy tissue. The firm secured $75 million in Series A financing backed by prominent investors including Vivo Capital, Advantech Capital, Venrock Healthcare Capital Partners, and venBio. The company established a strategic partnership with RayzeBio to clinically develop and commercialize a targeted radiotherapy drug for the Greater China market, utilizing funding to build its infrastructure. Advancing its clinical pipeline, Ablaze received approval for its Investigational New Drug application from China's National Medical Products Administration to begin clinical trials for its radiopharmaceutical candidates.
Ablaze Pharmaceuticals has raised $75.0M across 1 funding round.
Ablaze Pharmaceuticals has raised $75.0M in total across 1 funding round.
Ablaze Pharmaceuticals has raised $75.0M in total across 1 funding round.
Ablaze Pharmaceuticals's investors include Vivo Capital, Advantech Capital, Novo Ventures, venBio, Nan Fung Life Sciences, Pivotal bioVenture Partners China, RAYZ Investments, Samsara BioCapital, Venrock.
Ablaze Pharmaceuticals has raised $75.0M across 1 funding round. Most recently, it raised $75.0M Series A in November 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Nov 1, 2021 | $75M Series A | Vivo Capital, Advantech Capital | Novo Ventures, VenBio Partners, NAN Fung Life Sciences, Pivotal Bioventure Partners China, Rayz Investments, Samsara BioCapital, Venrock | Announced |
Ablaze Pharmaceuticals is a clinical-stage biopharmaceutical company founded in 2021, focused on developing and commercializing targeted radiopharmaceutical therapies (TRT) to treat cancer patients, primarily in Greater China.[1][2][3] The company builds innovative TRT products, such as a first-in-class novel peptide drug candidate targeting GPC3 for liver cancer, serving oncology patients by addressing unmet needs in targeted radiotherapy.[1][5] It solves the problem of limited access to advanced TRT options in China through exclusive licensing from partners like RayzeBio and manufacturing collaborations, evidenced by $75M raised in a Series A round in 2023 (co-led by Vivo Capital and AdvanTech Capital) and ongoing clinical advancements.[1][2]
Headquartered in Shanghai, China (with a presence in San Diego, CA), Ablaze has secured key partnerships for clinical trial supply and cGMP manufacturing, including with Yonghe Pharma and Eckert & Ziegler, positioning it for growth in the emerging TRT market.[1][2][3]
Ablaze Pharmaceuticals was founded in 2021 by leaders including Dr. Alex (Tiecheng) Qiao, Co-Founder, President, and CEO, who brings extensive experience in cross-border product development and deal-making in pharmaceuticals.[1][3] The idea emerged from recognizing the potential of targeted radiopharmaceutical therapies (TRT) to transform cancer treatment in China, where access to such innovations was limited. Early traction came swiftly through an exclusive partnership with RayzeBio, Inc. (San Diego-based), granting Ablaze rights to develop and commercialize a series of RayzeBio's TRT products in Greater China.[1][3]
Pivotal moments include the $75M Series A financing in 2023 and the 2022 agreement with Yonghe Pharma for development and manufacturing services, enabling progression from preclinical to clinical stages.[1][2][3] These steps leveraged the team's networks in China and abroad to establish Ablaze as a bridge for global TRT innovations.
Ablaze rides the global surge in radiopharmaceuticals, a trend fueled by precision oncology demands, with TRT therapies like those targeting PSMA or GPC3 showing strong efficacy in hard-to-treat cancers.[1][5] Timing is ideal amid China's expanding biotech ecosystem and regulatory support for innovative drugs, amplified by post-pandemic investment in localized manufacturing.[2][3] Market forces favoring Ablaze include rising cancer incidence in Asia, supply chain localization needs, and partnerships bridging U.S. innovation (RayzeBio) with Chinese commercialization.[1]
The company influences the ecosystem by pioneering TRT adoption in Greater China, fostering CDMO collaborations (e.g., Yonghe), and potentially setting standards for cross-border licensing in radiopharma, which could lower barriers for similar startups.[3]
Ablaze is poised to advance its RayzeBio-licensed pipeline into later-stage trials, with manufacturing partnerships de-risking commercialization and enabling broader TRT access in China.[1][3] Key trends like AI-driven target discovery, actinium-225 isotope shortages resolution, and China's NMPA fast-tracks will shape its path, potentially leading to first approvals by 2027-2028. Its influence may evolve from licensor to full-stack TRT leader, inspiring more U.S.-China biotech bridges and capturing a slice of the $10B+ global radiopharma market. This positions Ablaze as a high-momentum player in oncology's next frontier, directly tackling the access challenges highlighted in its founding mission.[1][2]