Ribo Life Science, a Leader in Oligonucleotide Therapeutics, Debuts on HKEX Today

On January 9, Ribo Life Science, a leader in the small nucleic acid sector, officially listed on the Hong Kong Stock Exchange, with CICC and Citibank acting as joint sponsors.IPO priced at HK$57.97 per share, market capitalization of HK$9.373 billion, total funds raised HK$1.593 billion.。

Cornerstone investors include, in addition to the company's global R&D center Ribocure AB(Located in Sweden)Major ShareholdersErik Selin Fastigheter AB In addition, Ribo Life Science has also introduced Arc Avenue, Bright Stone, China Asset Management, Da Cheng International and Da Cheng Fund, and Taikang Life.and more than ten other institutions as cornerstone investors,Total subscription of 100 million US dollars, accounting for more than 48% of the issuance share。

Ribo Life Science currently has no commercialized products, and its revenue mainly comes from BD collaborations. Since the end of 2023, Ribo Life Science has successively collaborated withQilu Pharmaceutical, Boehringer Ingelheim, PHEIRONReached a drug development cooperation.The companyRevenue of 142.6 million yuan in 2024, and revenue of 103.8 million yuan in the first half of 2025。

Transaction reached by Ribo Life Science as the transferor

Source: Insight Database of DXY (Dingxiangyuan)

In terms of R&D expenses, Ribo Life Science spent 315.8 million yuan, 280.4 million yuan, and 129.1 million yuan in 2023, 2024, and the first half of 2025, respectively.

The executive team is impressive.

Ribo Life Science was founded in 2007 and isOne of the earliest companies engaged in the research and development of small nucleic acid drugs, headquartered in Kunshan, Suzhou. The company has also established research and development centers in Beijing and Sweden.

In terms of management team, Ribo Life Science has gathered elite talents from top global academic institutions, pharmaceutical companies, and medical organizations. They possess extensive multinational pharmaceutical experience, covering the entire R&D value chain of small nucleic acid drugs.

For example,Liang Zicai, Ph.D., founding chairman, is one of the pioneers and founders in the field of small nucleic acids in China., who served as a tenured professor at the Institute of Molecular Medicine, Peking University, and as an associate professor at Karolinska Institutet in Sweden. HeWith over 20 years of research experience in small nucleic acid technology and RNA drugs, he has led...China's first major siRNA research project.

Co-CEO, Global R&D President and Chief Medical OfficerDr. Gan Liming, former head of cardiovascular, renal, hepatic, and metabolic diseases as well as clinical development and global vice president at AstraZeneca. Notably, he meticulously planned...The World's First Clinical Trial Using Chemically Modified mRNA。

Dr. Zhang Hongyan, the founding president, successfully established two small nucleic acid Biotech companies in Sweden. John TAYLOR, the global head of business development, has served for many years in the business development department of AstraZeneca and the R&D department of Pfizer. Dr. Tong Cheng, the executive vice president, held senior scientific and leadership positions at Pfizer, as well as leadership roles in the International Society for Pharmaceutical Engineering.（ISPE）Chairman of the China Chapter and Board Member, ISPE Asia-Pacific CommitteeChairman.

In addition, Chief Scientific Officer Gao Shan, Ph.D., Global Clinical Development Head Anders GABRIELSEN, Ph.D., Chief Financial OfficerMr. Zhang Su also has rich industry experience.

Rich small nucleic acid pipeline

After nearly 20 years of development, Ribo Life Science has established a rich pipeline of small nucleic acids, includingA Core Product RBD4059 for the Treatment of Thrombotic Diseases, and 7 productsIn the clinical trial stageSelf-developed new drugs, involving seven indications for cardiovascular, metabolic, kidney, and liver diseases, four of which are in Phase II clinical trials.

Source: Ribo Life Science Prospectus

The prospectus shows,RBD4059 isThe World's First Clinical-Stage siRNA Drug for the Treatment of Thrombotic Diseases, which is currently in Phase II clinical trials. The productBy selectively inhibiting FXI, the risk of significant bleeding is not increased.(Common Limitations of Traditional Anticoagulants)Reduce the risk of thrombosis while producing a long-lasting effect with low-frequency dosing, improving patient compliance.

Source: Ribo Life Science Prospectus

ExceptRBD4059 Outside,Ribo Life Science has also progressed to Phase II clinical trials with RBD5044, RBD7022, and RBD1016.

RBD5044 is aAPOC3 siRNA Therapy, used for the treatment of hypertriglyceridemia（HTG），With Best-in-Class PotentialIn preclinical studies, RBD5044 has demonstrated potent inhibition of the APOC3 protein while showing a more significant reduction in triglycerides, indicating enhanced and longer-lasting control of triglyceride levels. Phase I clinical trial results also suggest potential clinical benefits and prolonged efficacy.

RBD7022 is a PCSK9  siRNA, utilizing advanced RNA interference technology to precisely modulate cholesterol metabolism. RBD7022 specifically inhibits the expression of PCSK9 in the liver, increasing the density of LDL receptors on hepatocytes and enhancing the body's efficiency in clearing LDL cholesterol from circulation. Phase I results indicate that RBD7022 has demonstratedInclisiran achieves a comparable LDL-C lowering effect, andPotential of a dosing frequency of once every 6 months。

RBD1016 is a treatment for CHB currently in global clinical development.(Chronic Hepatitis B)and CHD(Chronic Delta Hepatitis)The siRNA candidate drug. Phase I results showed a sustained reduction in HBsAg after a single dose.RBD1016 With dose-dependent response and good safety and tolerability.

Cover source: ZCOOL HELLOR

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