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RuiYi Gets $4M Loan From Sillicon Valley Bank

RuiYi Inc., a biotechnology business with headquarters in La Jolla and Shanghai, has obtained $4 million in debt financing from Silicon Valley Bank, the company announced.

RuiYi, founded in 2008, plans to use the funds to advance a pipeline of monoclonal antibodies. The drugs help treat anti-immune diseases.

In March, RuiYi received $15 million in Series B equity financing from a group of venture capital firms that included the venture arm of drug maker GlaxoSmithKline PLC (NYSE: GSK).

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