Sirnaomics Announces $105 Million Series D Financing to Advance RNAi Therapeutics for Cancer, Fibrosis, and Viral Diseases

Sirnaomics, Inc., a globally leading company focused on developing new drugs using RNA interference (RNAi) technology, recently announced that it has secured $105 million (approximately RMB 730 million) in Series D financing. This round was co-led by existing shareholder Xuan Shi Capital and new investors Walvax Biotechnology and RHC. Existing shareholder Sangel Venture Capital and new investors Longmen Capital, Hongtao Capital, and Zhongyuan Capital also participated. China Renaissance and Huatai Financial Holdings (Hong Kong) Limited served as financial advisors for this financing round.

The proceeds from this financing round will be used to further advance and expand Sirnaomics’ innovative RNA interference (RNAi) drug pipeline, focusing on the treatment of various diseases including cancer, fibrotic disorders, metabolic diseases, and viral infections. Building on the positive results from the Phase IIa clinical trial for the treatment of cutaneous squamous cell carcinoma (see the company’s press release dated April 9, 2020), the company will further evaluate the clinical efficacy of its two dual-target RNAi therapeutics, STP705 and STP707, which target TGF-β1 and COX-2, for the treatment of various cancers and fibrotic diseases via local or systemic administration. Given the potential synergistic effects with immune checkpoint inhibitors observed in preclinical and clinical studies, Sirnaomics’ clinical research will place particular emphasis on evaluating the efficacy of its RNAi therapeutics in cancer immunotherapy. With the continued expansion of its innovative delivery platforms—such as small interfering RNA-chemo drug conjugate (siRNA-chemo drug conjugate) technology (see the company’s press release dated August 27, 2020), peptide-drug oligomer-GalNAc (PdoV-GalNAc) conjugation technology, and improved nebulization devices—Sirnaomics will advance the application of its innovative RNAi therapeutics across multiple therapeutic areas.

Dr. Yang Lu, Founder and CEO of SirnaomicsHe stated, “We are delighted to have completed our Series D financing round in a timely manner. The fact that this round was oversubscribed further demonstrates the significant interest from the investment community in leveraging RNA interference technology for novel drug development. This momentum is also strongly driven by our innovative targeted delivery technologies and encouraging clinical results. We are honored to have secured a robust syndicate of both strategic industrial investors and financial investors in our Series D round. The participation of these highly regarded institutions not only strengthens our financial foundation but also provides extensive expertise to support the company’s next phase of growth and its preparations for an initial public offering.”

Dr. Dai Xiaochang, Managing Partner of Xuan Shi Fund Managementstated: "We are pleased to continue our investment in Sirnaomics. The company is currently the only biopharmaceutical enterprise conducting innovative drug R&D and clinical trials for RNA interference (RNAi) therapies in both China and the United States, which happen to be the two largest global markets for oncology and fibrosis treatments. The management team at Sirnaomics possesses comprehensive and balanced skills and experience in RNAi drug development, along with a unique international perspective. We believe that Sirnaomics will further optimize its technology platform and enhance the therapeutic efficacy of its innovative drugs through robust clinical research strategies."

Mr. Li Yunchun, Chairman of Walvax Biotechnologystated, “This investment by Walvax in Sirnaomics represents a powerful synergy, leveraging Dr. Lu Yang and his team’s leading R&D position in innovative siRNA therapeutics, combined with Walvax Biologicals’ strengths in technology translation and large-scale industrialization of biologics. This partnership aims to accelerate the successful development and market launch of innovative siRNA biologics in China and overseas, thereby benefiting the general public.”

Shi Shenghao, Managing Partner of RHC, commenting: “There is no doubt that the field of oligonucleotide therapeutics will enter a period of explosive growth over the next 5–10 years, driven by the unique advantages of druggability. After more than a decade of dedicated efforts and relentless perseverance, Sirnaomics’ team has accumulated extensive experience and developed proprietary, advanced drug delivery systems along with a pipeline of novel candidate drugs. We believe these innovations will make significant impacts in the treatment of cancer and fibrosis. As long-term capital with an insurance fund background, we are honored to have partnered with them and will continue to support the company’s development in the years to come.”

Xuan Shi Capital is an equity investment management firm focused on long-term value, targeting outstanding enterprises with technological innovation capabilities both domestically and internationally. Its investment scope spans multiple sectors, including biopharmaceuticals, information technology, advanced manufacturing, and consumption upgrades, covering all stages of equity investment.

Yunnan Walvax Biotechnology Co., Ltd. (“Walvax Biotech”) was registered and established in Kunming in 2001 as a high-tech biopharmaceutical enterprise specializing in the research and development, production, and sales of human vaccines. In 2010, Walvax successfully listed on the ChiNext board of the Shenzhen Stock Exchange (Stock Code: 300142). As of October 16, 2020, the company’s total market capitalization reached RMB 89.37 billion. Walvax has successfully developed eight marketed vaccine products, including one of the most complex vaccines globally—the 13-valent pneumococcal conjugate vaccine (PCV13), which received marketing approval from the China National Medical Products Administration (NMPA) on December 31, 2019. Other marketed products include Haemophilus influenzae type b (Hib) conjugate vaccine (two specifications), Group A and Group C meningococcal polysaccharide vaccine, Group A and Group C meningococcal polysaccharide conjugate vaccine, ACYW135 meningococcal polysaccharide vaccine, 23-valent pneumococcal polysaccharide vaccine, and diphtheria-tetanus-acellular pertussis (DTaP) combination vaccine. Additionally, Walvax’s independently developed bivalent recombinant human papillomavirus vaccine (HPV16/18) is in the stage of submitting for marketing approval, while four new vaccine candidates, including the blockbuster nine-valent HPV cervical cancer vaccine, are in clinical trials. Walvax’s products cover more than 2,000 counties across 30 provinces in China. Internationally, multiple Walvax products have been successfully exported to 12 countries, including the United States, Indonesia, Egypt, the Philippines, Bangladesh, Guinea, Nigeria, and Kyrgyzstan. Funds affiliated with Walvax Biotech have previously participated in investments in innovative biopharmaceutical companies such as Genor Biopharma and Zerun Biologics.

RHC was established in 2015 as one of the pilot entities for private equity fund management companies set up with insurance capital in China’s insurance industry. Since its inception, RHC has been built according to market-oriented and professional standards, becoming one of the most outstanding insurance-capital fund management institutions. Under RHC are business segments including equity investment, real estate investment, and wealth management, with total assets under management exceeding RMB 18 billion. Portfolio companies invested by RHC include Mindray Medical, Yuwell Medical, Lepu Biopharma, Genor Biopharma, 3SBio, Sunny Dental, Chaoju Eye Care, Ruipeng Pet Hospital, Ant Group, JD Digits, and SenseTime.

# Sangel CapitalSangel Capital is one of China’s earliest established professional equity investment firms specializing in the biomedicine sector. Focusing on biopharmaceuticals, medical devices, and biotechnology, the firm holds a leading professional advantage and maintains a rich project pipeline within the biomedical investment industry. Rooted in the most promising sectors, Sangel Capital identifies innovative growth enterprises with significant capital value and commercial potential, cultivating a portfolio of benchmark companies across various niche industries. With offices in Shenzhen, Beijing, Suzhou, and the United States, Sangel Capital has assembled an investment and advisory team comprising industry experts, scientists, and investors from the life sciences sector. The firm manages and operates a series of RMB and USD funds and has received numerous awards and honors from various institutions.

Longmen Capital is a professional investment institution dedicated to identifying and investing in outstanding healthcare enterprises in China, with its investment scope covering sub-sectors such as pharmaceuticals/biotechnology, medical devices, and healthcare services.

Sirnaomics is a leading enterprise in the development of novel nucleic acid therapeutics, with multiple clinical research projects. Incorporated in Delaware, USA, and headquartered in Maryland, USA, the company has branches in Suzhou and Guangzhou, China. The company’s mission is to develop innovative therapies to alleviate patient suffering, enhance human health, and advance patient treatment in high-need medical areas. The company’s philosophy is: Innovation-led, global perspective, patients first. The senior management team possesses extensive comprehensive experience in the biopharmaceutical industry, finance, clinical operations, and commercial management in both the United States and China. The company is supported by institutional investors, corporate partners, and government funds. Sirnaomics boasts internationally leading nucleic acid drug delivery technologies and platforms for new drug discovery and industrialization, along with a robust intellectual property portfolio and a rich product pipeline. The company’s current key therapeutic areas include oncology, fibrotic diseases, and viral infections.