Ribo Bio Secures RMB 203 Million in Series C1 Financing to Advance Oligonucleotide Therapeutics Pipeline

VCBeat (WeChat ID: vcbeat) has learned that Suzhou Ribo Life Science Co., Ltd. (“Ribo Life Science”) announced today the successful completion of its C1 round financing, amounting to RMB 203 million. This round was co-led by Panlin Capital and Sany Innovation Investment, with participation from well-known institutions including Legend Capital, SDIC Innovation, Hanyang Capital, Blue Ocean Capital, Chuangyuanyuan Investment, Daxie Yunghong Investment, and Shenzhen Zhonghui Investment. With this closing, Ribo Life Science has completed three rounds of equity financing, raising a cumulative total of over RMB 500 million. It is understood that the proceeds from this round will be primarily used to support the advancement of Ribo Life Science’s clinical projects and the research and development of its preclinical pipeline candidates at various stages.

Ribo Life Science, established in 2007, is dedicated to the research and development of oligonucleotide therapeutics. The company has built robust comprehensive capabilities across innovative oligonucleotide technologies, drug portfolios, R&D facilities, and its team of technical and management professionals. Currently, Ribo Life Science has developed a rich pipeline of oligonucleotide drug candidates, with indications covering multiple major disease areas, including infectious diseases, oncology, metabolic disorders, cardiovascular and cerebrovascular diseases, and neurological conditions.

Previously, Ribo Life Science completed its Series A and Series B financing rounds in 2015 and 2017, respectively. Building on these first two rounds of funding, Ribo Life Science accelerated the development of its product pipeline and small nucleic acid drug delivery technologies. Currently, two products have entered Phase II and Phase III clinical trials, while multiple candidates have reached the stage of clinical trial application. Ribo Life Science has established a liver-targeted delivery technology platform for small nucleic acids with internationally advanced capabilities, providing strong support for the advancement of a portfolio of backup candidates.

Small nucleic acid drugs, also known as RNA interference (RNAi) therapeutics. RNAi refers to the process whereby long double-stranded RNA (dsRNA) is cleaved into small interfering RNA (siRNA), which then binds with proteins to form the siRNA-induced silencing complex (RISC). The RISC subsequently binds to complementary mRNA, leading to the degradation of the target gene’s mRNA and ultimately silencing the expression of specific genes.

RNA interference (RNAi) was first discovered by scientists in 1998, gained widespread global attention in the early 21st century, and research into RNAi technology was awarded the Nobel Prize in Physiology or Medicine in 2006. In recent years, RNAi therapies have achieved multiple breakthroughs, becoming a new hotspot for global investment and a fiercely contested arena for major biopharmaceutical companies.

Since its establishment, Ribo Life Science has built a comprehensive technology chain for oligonucleotide drug development, tailored to the specific characteristics of this field. This includes siRNA candidate sequence design, activity screening, nucleic acid chemical modifications, off-target effect and immunostimulatory response evaluation, nucleic acid chemistry and bioanalytical methods, nucleic acid manufacturing processes, quality studies of intermediates and drug substances, nucleic acid delivery technologies, and vector preparation. As a result, the company has formed a complete oligonucleotide pharmaceutical technology chain and a robust drug R&D support system. It has established production capabilities covering nucleic acid monomers, active pharmaceutical ingredients (APIs), drug delivery vectors, and finished drug products, and has assembled a specialized technical and management team in nucleic acid therapeutics. These achievements have positioned Ribo Life Science at the forefront of independent innovative drug development.

In the industrialization of oligonucleotide therapeutics, Ribo Life Science focuses on combining its technological platform advantages with high-end international collaborations to build a diversified pipeline of investigational candidates.

In September 2012, Ribo Life Science entered into a strategic partnership with Quark Pharmaceuticals, the U.S. company then possessing the most extensive global experience in the clinical development of RNA interference therapeutics, to jointly establish the joint venture “Kunshan Ribo Quark Pharmaceutical Technology Co., Ltd.” for the purpose of advancing the clinical trials and industrialization of small nucleic acid drugs in China and Asia.

In June 2013, Ribo Life Science entered into a patent licensing agreement with the U.S. biotechnology company Life Technologies Corporation regarding the drug development and manufacturing in China of next-generation small nucleic acid delivery patented technology, whereby Ribo obtained exclusive rights to research, develop, and manufacture using this patented technology in China.

In December 2015, the international multicenter clinical trial application for QPI-1007, co-developed by Ribo Life Science and Quark Pharmaceuticals (USA), was officially approved by the China Food and Drug Administration (CFDA). QPI-1007 marked a milestone in clinical trials of small nucleic acid drugs in China, playing a highly positive role in advancing research and development in this field in China and across Asia.

In April 2017, Ribo Life Science entered into a comprehensive collaboration with the global nucleic acid pharmaceutical giant Ionis Pharmaceuticals, Inc. (USA), to jointly promote the research and development (R&D) and commercialization of nucleic acid therapeutics in China. This partnership not only further enriches Ribo’s pipeline of investigational products but also significantly accelerates the R&D progress of nucleic acid therapeutics in China.

Dr. Liang Zicai, Chairman of Ribo Life Science, stated in a previous media interview that the company’s next strategic focus is to accelerate the clinical development of its product pipeline, complete all phases of clinical trials, and achieve the earliest possible market approval for its nucleic acid therapeutics both domestically and internationally. Over the next 12 to 18 months, Ribo Life Science expects four candidates to enter the clinical trial application and testing stages. According to the company’s current five-year plan, approximately two new candidates will be submitted for Investigational New Drug (IND) approval each year.

Oligonucleotide therapeutics, which target RNA, offer multiple technical advantages over traditional protein-targeting drugs:

First, gene targeting exhibits high specificity. Since small nucleic acid drugs are artificially designed based on target RNA, they have clear objectives and strong target specificity.

Second, the design is simple and the R&D cycle is short. The preclinical development of oligonucleotide drugs begins with determining the gene sequence and rationally designing therapies to target disease-related genes for silencing. This approach avoids blind development and significantly saves R&D time.

Third, abundant candidate targets. Oligonucleotide therapeutics act at the post-transcriptional level, enabling breakthroughs against challenging targets that are difficult to address with protein-targeted therapies, and hold promise for treating genetic diseases currently lacking effective medications.

Fourth, a solid foundation for translation. RNA interference technology has matured over the years, making the transition from laboratory to clinical application relatively straightforward. Given the significant advantages of small nucleic acid drugs, experts predict that their golden age has arrived, with conservative estimates suggesting the global market size will far exceed $10 billion by 2025.

Global biotechnology companies and multinational pharmaceutical giants have made significant investments in the promising field of small nucleic acid drug development. According to statistics from the Cortellis database, as of January 2019, there were 99 RNAi drugs under development worldwide. Companies specializing in small nucleic acid therapeutics, such as Sarepta, Alnylam, Ionis, Arrowhead, Quark, Dicerna, Wave, and Arbutus, along with pharmaceutical giants including Roche, GSK, Sanofi, and AstraZeneca, have all entered this arena.

In China, representative enterprises and institutions in the field of oligonucleotide therapeutics include Ribo Life Science, Starna Pharmaceuticals, BioMap, Ascletis Pharma, Genepharma, Kunshan Industrial Technology Research Institute, and listed companies such as Staidson and Xiangxue Pharmaceutical.

Dr. Liang Zicai stated, “We are delighted to have gained recognition and support from multiple investment institutions in this round of financing. Currently, oligonucleotide therapeutics has emerged as the most dynamic sector within biomedicine, poised to become the third revolutionary wave in modern pharmaceuticals—following small-molecule drugs and antibody-based therapies—and demonstrating substantial depth for development along with significant socioeconomic prospects. With the support of our investors, we aim to accelerate our growth, continue advancing R&D in oligonucleotide drug technologies and product pipelines, and provide more effective therapeutic options for patients.”

Mr. Li Yuhui, Founding Managing Partner and Chairman of Panlin Capital, stated, “Over the past few years, the development of Ribo Life Science has been both gratifying and pride-inducing. Under the leadership of Professor Liang Zicai, Ribo Life Science has established a mature technology platform and advanced a series of products into clinical trials, emerging as a leader in China’s oligonucleotide therapeutics sector. We are honored to have witnessed this journey. Professor Liang is an exceptional ‘entrepreneur among scientists’ and, even more so, an ‘innovator among entrepreneurs.’ We are delighted that Panlin Capital has become one of Ribo Life Science’s steadfast supporters, and we look forward to new breakthroughs by Ribo Life Science in its next phase of development.”

Dr. Yin Zheng, Managing Partner of Sany Innovation Investment, stated, “Small nucleic acid therapeutics have long been a key area of focus for us. The emergence of blockbuster drugs and the clinical validation of critical delivery technologies have established a clear growth trajectory for the industry. Under the leadership of Professor Liang Zicai and its management team, Ribo Life Science has made steady and significant progress in the field of small nucleic acid pharmaceuticals. The company has built a comprehensive platform for novel small nucleic acid drug discovery, developed proprietary delivery technologies, and established a robust pipeline of small nucleic acid drug candidates. Sany Innovation Investment is delighted and honored to participate in this round of financing, supporting Ribo Life Science’s rapid development. We look forward to Ribo Life Science leading the wave of small nucleic acid innovation in China and riding the wind to greater success.”

Ribo Life Science is an innovative drug development company dedicated to the development of nucleic acid therapeutics based on RNA interference (RNAi) and antisense oligonucleotide technologies, serving as a primary pioneer in China’s small nucleic acid technology and pharmaceutical industry. Through independent research and development and high-level international collaborations, Ribo Life Science has established a diverse portfolio of small nucleic acid drug candidates. Since its inception, the company has achieved remarkable milestones in small nucleic acid drug R&D, scaled-up manufacturing, quality research and process control of active pharmaceutical ingredients (APIs), and the construction of Good Manufacturing Practice (GMP) production lines. It has built a series of small nucleic acid drug development platforms tailored to address the major medical needs of the Chinese population. Ribo Life Science boasts a founding team composed of distinguished scientists in the field of RNAi in China, along with the country’s most experienced R&D, production, and management team specializing in small nucleic acid pharmaceuticals.

Panlin Capital is among the earliest venture capital firms in China to explore and practice the theme of technology-driven consumption upgrading amid the development of the new economy. Following the logic of consumption upgrading, Panlin Capital focuses on the prevention, diagnosis, and treatment of major diseases, as well as the intelligent transformation of the consumer supply side. It continuously identifies and invests in technology-driven enterprises and innovative tech entrepreneurs that leverage biotechnology or artificial intelligence innovations to effectively meet emerging consumer and diagnostic needs, thereby enhancing supply efficiency and service quality, and accelerates their growth. Panlin Capital’s mission is to discover entrepreneurs among scientists and foster innovators among entrepreneurs, cultivating Chinese tech-innovative companies through capital investment, and driving the transformation of China’s economic structure and the rapid development of the new economy through the power of technology.

Sanyi Innovation (Beijing) Investment Management Co., Ltd. is an equity investment management firm specializing in venture capital within the fields of biotechnology and pharmaceutical innovation.