Sirnaomics Seals US$105 Million Series D Financing to Fund Development of RNAi Therapeutics for Treatment of Cancers, Fibrotic Diseases and Viral Infections

GAITHERSBURG, Md. and SUZHOU BIOBAY, China, Oct. 22, 2020 /PRNewswire/ -- Sirnaomics Inc., a leading biopharmaceutical company in discovery and development of RNAi therapeutics, announced today that it has sealed its USD$105 million Series D financing. This round of funding was co-led by existing investor Rotating Boulder Fund, new investor Walvax Biotechnology Co., Ltd. and Sunshine Riverhead Capital, with support from existing investors Sangel Capital and new investors: Longmen Capital, HongTao Capital and Alpha Win Capital. Chinese Renaissance and Huatai Financial Holdings (Hong Kong) Ltd. served as the financial advisors for this round of fund raising.

Proceeds for the financing will be used to fund continued development of its novel RNAi therapeutics for treatment of diverse human disorders, including cancers, fibrosis diseases, metabolic diseases and viral infections. Sirnaomics will build on the positive results from its recent Phase IIa study for treatment of Cutaneous Squamous Cell Carcinoma in-situ (April 9, 2020 news release), and conduct multiple clinical studies to further evaluate its lead product candidates, STP705 and STP707, which are dual targeting siRNA therapeutics against TGF-β1 and COX-2 for both local and systemic administrations to treat various types of cancers and fibrotic diseases. A clinical focus will be immune oncological evaluation for these dual-targeted siRNA inhibitors, based on potential synergistic effects with immune checkpoint inhibitors observed at both preclinical and clinical settings. With further expansion of the company's innovative drug delivery platforms, such as siRNA-chemodrug conjugates (August 27, 2020 news release) and PDoV-GalNAc and advanced nebulizers, Sirnaomics is poised to address multiple therapeutic areas.

"We are very excited to get the D round of financing closed in a timely manner. The fact that the D round was oversubscribed is further validation that RNAi therapeutics are attracting a great deal of interest from the investment community and is fuelled by innovative targeted technologies and very impressive clinical results. We are thrilled to add a well-regarded syndicate of investors to the Series D financing. This type of investor base will not only strengthen our financial foundation, but also brings tremendous experience and expertise to Sirnaomics as it enters  the next phase of growth and prepares for an initial public offering in near future," commented Patrick Lu, PhD, Founder, President and CEO. 

Donald (Xiaochang) Dai, PhD, Managing Partner of Rotating Boulder Fund, said, "We are very happy to continue our investment in Sirnaomics. The company is the only biopharma venture conducting innovative R&D and clinical development in the field of RNAi therapeutics in both the US and China, the two largest markets for cancer and fibrosis disease treatments. The management team has a well-balanced skillset in RNAi drug development and is truly international with global vision. We have confidence that Sirnaomics will advance its technology platforms and novel therapeutic pipeline with sound clinical and regulatory strategies."

Mr. Yunchun Li, Chairman of Walvax, stated, "It is Walvax's pleasure to invest in Sirnaomics. By leveraging Sirnaomics' top management team led by Dr. Lu and its industry leading RNA drug development platform as well as the synergy with Walvax's technical transfer and commercialization capabilities, Walvax and Sirnaomics will work together to advance RNA drug development and benefit more patients in China and globally."

Mr. Shenghao Shi, Managing Partner of Sunshine Riverhead Capital, commented, "There is no doubt that in the next decade the field of oligonucleotide drugs will usher in an explosive period due to the unique advantages of druggability. After more than a decade of cultivation and unremitting efforts, the team of Sirnaomics has accumulated rich experience and has developed several original and advanced drug delivery systems, which we believe will make it an essential player in cancer and fibrosis fields. As a long-term capital investor with an insurance background, we are honored to be able to reach cooperation with them and will support the development of the enterprise for a long time in the future."

About Rotating Boulder Fund
Rotating Boulder Fund is an equity investment management company focusing on long-term value creation. The fund focuses on helping outstanding companies with technological innovation capabilities on the global stage. The investment scope of the fund covers biomedicine, information technology, advanced manufacturing, consumer products and service sectors etc. The fund invests in all phases of life cycle of the underlying business.  

About Walvax Biotechnology Co., Ltd
Founded in 2001, Walvax Biotechnology Co., Ltd. (Walvax) is specialized in research and development, manufacturing and distribution of vaccines. Headquartered in Kunming, China, Walvax went IPO in 2010 (300142.SZ) with current market value USD$13.3 billion (Oct. 16, 2020).  The company has successfully developed 8 vaccines with NMPA (China FDA) approval, including 13-valent pneumococcal conjugate vaccine (PCV-13) approved on December 31, 2019. Other products include haemophilus influenza type b conjugate, group A and C meningococcal polysaccharide, group A and C meningococcal conjugate, group ACYW₁₃₅ meningococcal polysaccharide (MenACYW₁₃₅ polysaccharide), 23-valent pneumococcal polysaccharide and DTaP vaccines. In addition, Walvax's bi-valent human papillomavirus vaccine (HPV-2) is at BLA filing stage, nona-valent HPV vaccine (HPV-9) and other 3 innovative vaccines are on clinical stages. Walvax products are covering markets in more than 2000 counties of 30 provinces of China while working closely with business partners to export its vaccine products to more than 12 countries and areas. In addition, the company's venture fund has invested in several innovative biopharma companies, such as Genor Biopharma and Zerun Bio. Learn more at www.walvax.com. 

About Sunshine Riverhead Capital
Founded in 2015, Sunshine Riverhead Capital (RHC) is one of the first insurance private equity fund managers approved by China Insurance Regulatory Commission. Since establishment, we have been pursuing market requirements and professional standards, forging us as an insurance fund manager with top returns. We cover private equity investment, real estate investment, wealth management, other business sectors, etc., with over 18bn RMB AUM. RHC portfolio includes high quality companies such as Mindray, Yuwell, Lepu Biotech, Genor Biopharma, 3SBio, Sunny Dental, Chaoju eye Hospital, Ruipeng Pet Hospital, Ant Group, Jddglobal, SenseTime, etc.

About Sangel Capital
Sangel Capital is one of the earliest established healthcare venture capital firms in China. Deliciated to novel technologies and healthcare innovation, the firm focuses on investing in startups in biotech, biopharma, medical devices, and digital health. Sangel capital identifies particularly promising startups that can achieve high return, and helps the portfolio to grow to their full potential. With headquarters in Shenzhen, Sangel Capital has offices in Beijing, Suzhou, and the US.  Sangel's team has a broad range of expertise, including entrepreneurs, scientists, investors and advisors.  Sangel Capital has been managing a series of RMB and USD funds, and has earned multiple awards from China national organizations.

About Longmen Capital
Longmen Capital is a healthcare-dedicated investment firm focused on finding and investing innovative life science companies in China, including pharmaceutical/ biotech, medical device and medical services and other promising sub-sectors.

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. As a clinical stage biopharma company, Sirnaomics' 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, anti-fibrotic therapeutics and viral infection. Learn more at www.sirnaomics.com.

CONTACT:
Sirnaomics, Inc.
Allan Shaw
CFO
Email: allanshaw@sirnaomics.com

ICR Healthcare
Investors:
Stephanie Carrington
Tel: +1 646 277 1282
Email: Stephanie.Carrington@icrinc.com  

Media:
Mark Corbae
Tel: +1 203 682 8288
Email: Mark.Corbae@icrinc.com

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SOURCE Sirnaomics, Inc.