Anaphore buys Chinese firm RuiYi for GPCR biologics platform

Privately-held US company Anaphore says it has acquired Shanghai, China-based RuiYi, bringing the company a powerful biologics drug discovery platform focused on the discovery and development of biologic therapies targeting G protein coupled receptors (GPCRs).

Financial terms of the deal were not revealed, but the acquisition follows the recent closing a second tranche of a fundraising of $15 million, the US firm noted. RuiYi was founded by Raymond Stevens of The Scripps Research Institute (TSRI) and TSRI alumni Fei Xu, of Shanghai, China.

Also adds wholly-owned enterprise in China