Shengen Bio Secures Nearly $100 Million in Series A+ Financing to Advance Novel RNAi Therapeutics

Dec 01, 2023 21:07 CST Updated 21:07

SANEGENEBIO

Small Nucleic Acid Drug Developer

On December 1, SANEGENEBIO announced the completion of an over US$80 million (nearly 600 million RMB) Series A+ financing round. This round was led by Tencent Investment and OrbiMed China, with participation from Northern Light Venture Capital, C&D Emerging Investment, Oriza Holdings, Shanghai Biomedical Industry Fund, Shenzhen Capital Group, and Teda Science & Technology Investment. Existing shareholders Qiming Venture Partners, Yahu Investment, K2VC, TF Capital, and Lingang Blue Bay Capital also continued their support.The proceeds of this fundraising will be mainly used to accelerate the company’s IND applications and clinical trials for drug pipelines targeting cardiovascular and metabolic diseases, immune-mediated diseases, etc., as well as to advance the construction of the extrahepatic delivery platform and drug development.

So far, SANEGENEBIO has secured over $130 million in three rounds of financing. In previous rounds, SANEGENEBIO received support from well-known investment institutions such as K2 Venture Partners, Hillhouse Ventures (GL Ventures), Qiming Venture Partners, TF Capital, YHC Investment, Lingang Blue Bay Capital, and Lanhu Capital.

SANEGENEBIO was founded in 2021 by a team of seasoned scientists in the field of nucleic acid drugs, committed to developing novel RNAi therapies. The company's core team has years of professional expertise and successful experience in both large pharmaceutical companies and biotechnology firms, and quickly established a proprietary nucleic acid drug chemical modification platform at the outset.Intrahepatic and Extrahepatic DeliveryTechnical platform, and based on the LEAD™ (Ligand and Enhancer Assisted Delivery) platform, has laid out multiple drug pipelines. The therapeutic areas cover cardiovascular and metabolic diseases, immune-mediated diseases, neurological disorders, etc. Among them, SGB-3403, a Class 1 new drug for treating hypercholesterolemia, has entered the clinical trial stage in both China and Australia. One product has submitted an IND application in Australia, two products are in the IND-enabling stage, and other pipelines are also advancing simultaneously. SANEGENEBIO has applied for comprehensive patent protection around the delivery platform, chemical modifications, target sequences, and candidate drug molecules, building a strong technical barrier.

Dr. Wang Weimin, founder and CEO of SANEGENEBIO, stated: "This round of financing is of great significance to the development of SANEGENEBIO. We are very grateful for the recognition and support from many investors. This financing will help us rapidly advance the clinical progress and internationalization of our core pipeline, strengthen the core competitiveness of our existing platform, and develop new leading technologies. It will address unmet clinical needs, allowing safe, effective, and accessible RNAi innovative therapies to benefit patients worldwide at an earlier stage."

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