Sirnaomics Inc., a leading biopharmaceutical company in discovery and development of RNAi therapeutics against cancer and fibrotic diseases, announced today that it has sealed the C2 round of financing for $22 million. This round of funding was led by CR-CP Life Sciences Fund, a Hong Kong based joint venture established by China Resources Group and Charoen Pokphand Group, two Asian conglomerates. Additional investors for the C2 round included Rich Yield Capital from Shanghai, Rolling Boulder Investment from Shenzhen and Legend Sky Investment of USA. Therefore, the Company has completed its Series C financing combining the previously announced C1 round of $25 million and C2 round for a total $47 million.
Sirnaomics plans to use the proceeds to support its clinical programs for RNAi therapeutics for treatments of a range of cancers and fibrotic diseases, and to advance its technology platforms. The Company’s lead product candidate (STP705), based on its dual targeting property and early safety study results, is currently being investigated for treatment of non-melanoma skin cancer in a phase II clinical study. A second clinical trial for treatment of cholangiocarcinoma and hepatocellular carcinoma is expected to commence in the second half of 2019.
“Completion of C round of financing strongly positions Sirnaomics for the next phase of technology and product development, in particular for our clinical studies to treat various types of cancer. It also demonstrated that investment communities have strong commitment to RNAi therapeutics and are confident in Sirnaomics’ platform technology and therapeutic programs,” remarked Patrick Lu, PhD, President and Chief Executive Officer. “We are thrilled to add a well-regarded syndicate of investors to the Series C financing. They will bring an abundance of resources beyond their financial commitments and will enable us to advance our innovative RNAi therapeutics.”
Mr. Da Liu, the managing director of CR-CP Life Science Fund, stated, “We are pleased to invest in Sirnaomics. Sirnaomics is the only biotechnology company conducting clinical drug development in the field of RNAi therapeutics both in USA and China, the two major markets for oncology and fibrosis. The management team is truly international and has well balanced skillset in RNAi drug development. We have confidence in the team and trust that it will advance the focused pre-clinical and clinical programs quickly and efficiently.”
About Sirnaomics, Inc.
Sirnaomics, Inc., a leading privately held biopharmaceutical company for discovery and development of RNAi therapeutics, is a Delaware corporation headquartered in Gaithersburg, Maryland, USA, with subsidiaries in Suzhou and Guangzhou, China. The company’s mission is to develop novel therapeutics to alleviate human suffering and advance patient care in areas of high unmet medical need. The guiding principles of the company are: Innovation, Global Vision with a Patient Centered focus. Members of the senior management team have a great deal of combined experience in the biopharmaceutical industry, financial, clinical and business management in both the USA and China. The company is supported by funding from institutional investors, corporate partnerships and government grants. Sirnaomics has developed a strong portfolio of intellectual property with an enriched product pipeline. The therapeutic areas of focus include oncology and anti-fibrotic therapeutics. Learn more at www.sirnaomics.com.
SOURCE Sirnaomics, Inc.