Eli Radiopharma has closed a Series A of nearly $60 million to advance its radioactive drugs and diagnostic agents, with several programs nearing applications for human trials. Huagai Capital led the financing, co-led by Bayland Capital, the Hangzhou company announced on November 12.
The round exceeds the roughly $45 million in cumulative funding Eli disclosed in March, when it announced a separate raise of nearly $15 million. Proceeds will fund laboratory research, trial applications and early clinical development. Figures are in US dollars, converted at November 11, 2026 reference rates.
Founded in 2024, Eli develops diagnostic and therapeutic radiopharmaceuticals for cancer and neurological diseases. One disclosed candidate, 18F-ELI-101, is designed to help clinicians use PET scans to assess abnormal tau deposits in adults with cognitive impairment.
Eli said on March 5 that China’s drug regulator had cleared a Phase 1 trial of that tracer, its first program authorized for clinical study. The planned single-injection study would examine safety, radiation exposure and how the agent behaves in the body, alongside an initial assessment of diagnostic performance.
Eli’s December 2025 collaboration with HTA pairs its early research with a partner’s supply-chain capabilities. The companies agreed to share development risks and returns, with Eli eligible for clinical milestone payments and income tied to future net sales.