MONEY & RATES BANKING & FINANCE INFORMATIONTECHNOLOGY ADVERTISING & MARKETING INTERNATIONAL BUSINESS
In Brief
Fortune World
ECONOMY & POLITICS
RNI NO:KARENG/2010/353381 VOL : 3 ISSUE.NO.1410 DAILY BANGALORE,INDIA 12THJUNE2014 Pages -2 $1/-USD
RuiYi Closes...
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MONEY & RATES BANKING & FINANCE INFORMATIONTECHNOLOGY ADVERTISING & MARKETING INTERNATIONAL BUSINESS
In Brief
Fortune World
ECONOMY & POLITICS
RNI NO:KARENG/2010/353381 VOL : 3 ISSUE.NO.1410 DAILY BANGALORE,INDIA 12THJUNE2014 Pages -2 $1/-USD
RuiYi Closes $4 Million Venture Loan
from Silicon Valley Bank
LA JOLLA, California and SHANGHAI, June 11, 2014 /
PRNewswire/ -- RuiYi, Inc., a global therapeutic innovation
leader, announced today the close of a $4 million debt financing from Silicon Valley Bank to advance a pipeline of
novel monoclonal antibodies (mAb) targeting G protein
coupled receptors (GPCRs). RuiYi plans to file an IND and
initiate clinical trials in multiple countries in 2015 for the
company's lead asset, RYI-008, a novel anti-IL-6 mAb for
rheumatoid arthritis and cancer. RuiYi will also be advancing RYI-018 into preclinical studies. Identified via RuiYi's
iCAPS™ platform, RYI-018 is a first-in-class monoclonal
antibodyto cannabinoid receptor 1 (CB-1), a commercially
valid
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