United States, Institutional

Changechevron_right

Portfolio company case study: RayzeBio

private hero background image

At a glance

San Diego, CA

City, State

2020                    

Year founded

25 August 2022

Investment date

Irina Margine

Deal lead

Biotech

Sector

Series D Preferred

Series invested

Company overview

RayzeBio logo

Rayzebio is a biotechnology company focused on developing targeted radiopharmaceutical drugs for solid tumors in cancers. The team prosecutes diverse sets of binders against clinically validated cancer targets through an iterative process involving in-vitro screening, X-ray crystallography, linker and radiolabeling optimization, and in-vivo screening with molecular imaging and biodistribution analysis.

Investment thesis

Our August 2022 investment in RayzeBio was centered on the strength of the clinical data for their lead asset (RZE-101). We believe the drug targets a well-defined market with remaining unmet need and that the company has emerged as one of the leaders in the space with their experienced team, strategy execution, manufacturing capabilities, and strong support from a high-quality shareholder base.

The case study presented is for illustrative purposes only to show how Wellington engages with private company founders and management teams. The private biotech team makes investments in other companies with different characteristics and the full list can be found here.

Dr. Ken Song, MD

Given Wellington's long track record within the healthcare space, and success working with innovative biotech companies, it's a no-brainer for any entrepreneur to want to have Wellington as an investor.

Dr. Ken Song, MD
President and CEO, Rayzebio

The statement and opinion presented above is an endorsement provided by Dr. Ken Song, CEO of Rayzebio, a portfolio company in which a Wellington-advised client invests. He is not an investor in private funds managed by Wellington Management. Wellington Management has not provided any cash or non-cash compensation for the use of this statement. The ownership structure of portfolio company investments creates a conflict of interest since Senior Executives have an incentive to make positive statements about Wellington and their experiences to maintain goodwill. This statement describes Song’s experience with Wellington Management and/or its supervised persons and may not be representative of the experience of others.

We believe RayzeBio’s strong clinical data, experienced team, and robust manufacturing capabilities make them a leader in the radiopharmaceutical space addressing critical unmet needs for cancer patients.

Irina Margine, PhD
Wellington Sector Lead, Biotech Private Investments
Irina Margine, PhD

Meet the private biotech team

craig william
Investment Director, Private Investment Capital Formation
Boston

Explore more case studies

Our focus areas

Venture Capital

Private Credit