Full-Life Technologies Valuation, Funding & Investors

Full-Life Technologies is valued at $440M as of May 2026.

Last Full-Life Technologies valuation

$440M

Series D · May 2026

Last Full-Life Technologies funding round

$109M

Series D · May 2026

Cumulative funding Full-Life Technologies raised

$253M

across 5 funding rounds

Key investors in Full-Life Technologies

  • HSG
  • Chengwei Capital
  • Junson Capital
  • Aramco Ventures
  • Sky9 Capital
  • Summer Capital

Full-Life Technologies Overview

About Full-Life Technologies

Full-Life Technologies is a Shanghai-based radiotherapeutics firm focused on developing targeted alpha therapy drugs for solid tumors. Its pipeline includes FL-001 for prostate cancer in Phase I trials and partnerships with radiochemistry suppliers for actinium-225 production. The company advances next-generation chelators and constructs to improve therapy efficacy.


Founded

2021

HQ

ChinaShanghai

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$440M (May 2026)

Full-Life Technologies Valuation

Full-Life Technologies is currently valued at $440M, based on its Series D in May 2026. Read the announcement ↗

The $109M round was led by Vivo Capital, with participation from Yunion Health Investments, SK Biopharmaceuticals, Sky9 Capital, Chengwei Capital, TSG Capital and 3 other investors.

Full-Life Technologies valuation by funding round

Full-Life Technologies valuation by funding round
DateStageValuation
May 2026Series D$440M

Full-Life Technologies Funding History

Full-Life Technologies has raised a total of $253M across 5 funding rounds.

Full-Life Technologies' first fundraising round was a $10M seed round in December 2021. The most recent completed round was a $109M Series D in May 2026.

Full-Life Technologies funding rounds

Full-Life Technologies funding rounds
DateStageInvestorsRaisedValuationDeal Summary
May 2026Series DVivo Capital (lead); Yunion Health Investments; SK Biopharmaceuticals; Sky9 Capital; Chengwei Capital; TSG Capital; Plaisance Capital Management; Junson Capital; HSG$109M$440MFull-Life Technologies completed a USD 150 million financing package in May 2026, consisting of approximately USD 110 million in Series D equity and USD 40 million in debt. The round was led by Vivo Capital with participation from SK Biopharmaceuticals, Chengwei Capital, HSG, Junson Capital, Plaisance and other investors. The financing brought total funding raised by the company to nearly USD 350 million since its inception in 2021. The capital was raised to advance Full-Life’s radiopharmaceutical pipeline, including [225Ac]-FL-020 in prostate cancer and [225Ac]-FL-261 across solid tumors, and to support its goal of having three clinical-stage programs by 2026. The company has been building global clinical and operational capabilities, with management emphasizing progress at scale across its development platform. The round included both equity and debt, but no earn-out or acquisition component was described in the available results. Full-Life Technologies is a China-Belgium biotech focused on radiopharmaceuticals. It was founded in 2021 and has been expanding its pipeline and operational footprint across China, Belgium and the U.S. The company’s earlier financing history includes a USD 77 million round made up of USD 50 million in Series C equity and USD 27 million in debt.
Sep 2025Series CJunson Capital (lead); Summer Capital; Chengwei Capital; Gordian Ventures; Lapam Capital; Plaisance Capital Management; TruMed Investment; HSG; Aramco Ventures$50M-Full-Life Technologies is a fully integrated global radiotherapeutics company with operations in China and Europe, focused on developing radiopharmaceutical oncology products, particularly radionuclide drug conjugates (RDCs) using alpha emitters like 225Ac, and building manufacturing capabilities including a facility in Belgium. The company was founded in 2021 and has raised nearly US$200 million in total funding by September 2025, including prior rounds such as a $37 million Series A in May 2022 led by Sequoia China. On September 29, 2025, Full-Life announced a $77 million financing round comprising $50 million in Series C equity led by Junson Capital, with participation from new investors Lapam Capital, Plaisance Capital Management, TruMed Investment, and existing shareholders Chengwei Capital, Gordian Ventures, HSG (HongShan), Prosperity7 Ventures, Summer Capital. An additional $27 million in debt financing was secured concurrently to support clinical pipeline development and preclinical programs globally. Junson Capital, which invested since the Series A, highlighted Full-Life's progress in addressing radiopharmaceutical supply bottlenecks and its strategic vision for an integrated platform. The funds are designated to accelerate advancement of Full-Life's global radiopharmaceutical pipeline toward clinical stages and enhance manufacturing capabilities in Belgium. The radiopharmaceutical sector faces challenges like isotope supply shortages, positioning Full-Life competitively through its end-to-end approach from R&D to production and commercialization. Cooley advised Full-Life on the transaction, underscoring its role in transformative biotech deals.
Jan 2024Series BAramco Ventures (lead); Sky9 Capital; Dart Xia Yan Venture Capital; Summer Capital; Chengwei Capital; Junson Capital; HSG; Guanghua Wutong Fund$47M-Full-Life Technologies is a fully integrated global radiotherapeutics company with operations in Belgium, Germany, and China, focused on owning the entire value chain for radiopharmaceutical research, development, production, and commercialization to deliver clinical impact for cancer patients. The company leverages its UniRDC platform, featuring advanced vector and linker design capabilities and expertise in radionuclides, to develop Radionuclide Drug Conjugates (RDC) for a wide range of cancers. In January 2024, Full-Life announced a $47.3 million Series B equity financing round co-led by Prosperity7 Ventures and an undisclosed healthcare specialist investor, with participation from new investors Sky9 Capital, Summer Capital, and Guanghua Wutong Fund, as well as existing shareholders Chengwei Capital, HongShan (HSG), and Junson Capital. Additionally, the company secured $16 million in loan facilities to support pipeline development and construction of a GMP radiopharmaceutical manufacturing plant in Belgium. This brought total funding since inception in August 2021 to over $110 million, including equity, loans, and government subsidies. The financing aims to evolve Full-Life into a clinical-stage company, advance its pipeline programs, and build manufacturing capabilities. Quotes from Prosperity7 Ventures highlight Full-Life's potential to improve cancer patient outcomes through differentiated RDC solutions, while CFO Julie Wu emphasized investor confidence in the company's rapid progress in building an integrated radiopharmaceutical platform. A later financing brought total funding closer to $200 million by 2025.
May 2022Series AHSG (lead); Yunion Health Investments; CD Capital; Kunlun Capital; Junsan Capital$37M-Full-Life Technologies is a fully integrated global radiotherapeutics company focused on developing radiopharmaceutical oncology products and a radiotechnology production platform to address supply chain challenges in nuclear medicine. Founded in August 2021 with operations in Europe and China, the company aims to own the entire value chain from research and development to production and commercialization of radio-ligands for cancer treatments. On May 26, 2022, Full-Life completed a $37 million Series A financing round led by Sequoia China (also known as HSG), with participation from Yunion Healthcare Ventures, Junson Capital, CD Capital, and Kunlun Capital. The funds were intended to advance lead radiopharmaceutical compounds into first-in-human studies and accelerate global radioisotope production and logistics capabilities. The Series A built on the company's seed round of $10 million on December 21, 2021, led by Chengwei Capital with involvement from co-founder Gordian Ventures, which supported initial pipeline development and nuclear technology platform. Post-Series A, Full-Life progressed its pipeline, including advancing lead candidate 225Ac-FL-020 toward Phase I trials for metastatic castration-resistant prostate cancer planned in Europe and the U.S. in early 2024. Subsequent financings included a Series B equity of $47.3 million on January 3, 2024, co-led by Prosperity7 Ventures and an undisclosed investor, with HongShan, Junson Capital, and others, plus $16 million in loan facilities, bringing total funding over $110 million. A Series C in 2025 raised additional equity led by Junson Capital with $27 million debt, approaching $200 million total, supporting clinical trials, new IND filings, and a GMP manufacturing facility in Belgium.
Dec 2021SeedChengwei Capital (lead)$10M-Full-Life Technologies launched on December 21, 2021, with a $10 million seed round financing led by Chengwei Capital as the sole investor. The funding supports advancement of its precision nuclear medicines pipeline and nuclear technology platform to address supply chain challenges in nuclear medicine. Full-Life, co-founded by Gordian Ventures, operates as a fully integrated global radiotherapeutics company with bases in Europe and China, focusing on the entire value chain for radio-ligand research, development, production, and commercialization.

Who has invested in Full-Life Technologies?

19 investors have backed Full-Life Technologies across its funding rounds, including HSG, Chengwei Capital, Junson Capital, Aramco Ventures, Sky9 Capital and Summer Capital.

Lead investors include Vivo Capital, Junson Capital, Aramco Ventures, HSG and Chengwei Capital.


Full-Life Technologies Investors

Investors in Full-Life Technologies by funding rounds participated
InvestorHQRoundsRoleFirst check
Chengwei CapitalChinaShanghai4LeadDec 2021
HSGHong KongHong Kong4LeadMay 2022
Junson CapitalHong KongHong Kong3LeadJan 2024
Yunion Health InvestmentsChinaShanghai2ParticipantMay 2022
Sky9 CapitalChinaShanghai2ParticipantJan 2024
Summer CapitalHong KongHong Kong2ParticipantJan 2024
Plaisance Capital ManagementUnited StatesBoston, MA2ParticipantSep 2025
Aramco VenturesSaudi ArabiaDhahran2LeadJan 2024
SK BiopharmaceuticalsSouth KoreaSeongnam1ParticipantMay 2026
CD CapitalUnited KingdomLondon1ParticipantMay 2022
Kunlun CapitalSingaporeSingapore1ParticipantMay 2022
Dart Xia Yan Venture CapitalChinaHangzhou1ParticipantJan 2024
Junsan CapitalChinaShenzhen1ParticipantMay 2022

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Full-Life Technologies

Full-Life Technologies has acquired 1 company to date.

Last acquisition by Full-Life Technologies was on November 28th 2022. Full-Life Technologies acquired Focus-X Therapeutics for $245M.


Latest Acquisitions by Full-Life Technologies

Focus-X Therapeutics
Description
Focus-X Therapeutics is a Berlin-headquartered preclinical-stage biotechnology company developing radiopharmaceuticals for solid tumors including pancreatic and neuroendocrine cancers with five-year survival rates below 10 percent. The firm applies a theragnostic strategy combining diagnostics and therapeutics through its proprietary radioligand therapy platform that targets somatostatin receptor-positive tumors. This approach delivers alpha-emitting isotopes like actinium-225 or beta-emitters such as lutetium-177 directly to cancer cells to induce DNA damage. Founded in 2023, Focus-X Therapeutics advances multiple candidates in its pipeline toward clinical trials in Europe and the United States.
HQ CountryUnited States
HQ City
Seattle, WA
Deal Date28 Nov 2022
Valuation$245M
EV/Revenue
EV/EBITDA

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Full-Life Technologies Competitors

Full-Life Technologies competitors include listed companies like Dong-A Socio Holdings, Aarti Drugs, Gufic Biosciences and Heartseed, and private ones like Huaota Biopharm and Encoded Therapeutics.

Public and private companies comparable to Full-Life Technologies
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Huaota BiopharmChinaShanghaiPrivate--$440M-
Dong-A Socio HoldingsSouth KoreaSouth KoreaPublicly listed$1.1B$131M$439M0.7x
Aarti DrugsIndiaIndiaPublicly listed$266M$33M$438M1.6x
Gufic BiosciencesIndiaIndiaPublicly listed$86M$16M$438M-
HeartseedJapanJapanPublicly listed$19M$2M$437M71.4x
Encoded TherapeuticsUnited StatesSan Francisco, CAPrivate$54M-$433M8.0x

Full-Life Technologies Public Comps

Full-Life Technologies is still privately-owned, but its public comps include Dong-A Socio Holdings, Aarti Drugs, Gufic Biosciences, Heartseed, Eupraxia Pharmaceuticals, Monopar Therapeutics, Zota Health Care, Qyuns Therapeutics, Synmosa Biopharma and Orchid Pharma.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Dong-A Socio Holdings$1.1B$131M0.7x0.7x6.0x5.8x
Aarti Drugs$266M$33M1.8x1.6x14.6x12.5x
Gufic Biosciences$86M$16M5.5x-29.7x-
Heartseed$19M$2M20.7x71.4x186.5x-
Eupraxia Pharmaceuticals-($40M)--(8.7x)(6.9x)
Monopar Therapeutics-($17M)--(20.2x)(9.1x)
Zota Health Care$57M$1M8.9x6.3x444.6x104.5x
Qyuns Therapeutics$121M$53M3.2x3.9x7.3x7.3x

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Common questions about Full-Life Technologies

When was Full-Life Technologies founded?Full-Life Technologies was founded in 2021.
Where is Full-Life Technologies headquartered?Full-Life Technologies is headquartered in Shanghai, China.
Is Full-Life Technologies publicly listed?No, Full-Life Technologies is a private, VC-backed company.
What is Full-Life Technologies' valuation?Full-Life Technologies was last valued at $440M in its Series D in May 2026.
How much funding has Full-Life Technologies raised?Full-Life Technologies has raised $253M across 5 funding rounds.
What was Full-Life Technologies' last funding round?Full-Life Technologies' last funding round was a $109M Series D in May 2026, led by Vivo Capital.
Who are Full-Life Technologies' investors?Full-Life Technologies' investors include Chengwei Capital, HSG, Junson Capital, Yunion Health Investments, Sky9 Capital, Summer Capital, Plaisance Capital Management, Aramco Ventures, SK Biopharmaceuticals, CD Capital and 9 others.
Which companies are comparable to Full-Life Technologies?Companies comparable to Full-Life Technologies include Huaota Biopharm, Dong-A Socio Holdings, Aarti Drugs, Gufic Biosciences, Heartseed and Encoded Therapeutics.
How many companies has Full-Life Technologies acquired?Full-Life Technologies has acquired 1 company, including Focus-X Therapeutics.
What was the largest acquisition by Full-Life Technologies?The $245M acquisition of Focus-X Therapeutics in November 2022 is the largest acquisition Full-Life Technologies has made to date.

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