Sirius Therapeutics Files for Hong Kong IPO to Advance siRNA Therapies for Chronic Disease Management

Intelligent Finance APP learned that, according to the disclosure by the Hong Kong Stock Exchange on September 28, Sirius Therapeutics submitted its listing application to the Main Board of the Hong Kong Stock Exchange. Goldman Sachs, Haitong International, and HSBC are its joint sponsors.

The prospectus shows that Sirius Therapeutics is a global clinical-stage biotechnology company committed to maximizing the clinical and commercial value of siRNA therapies. With a strategic foundation comprising three potential blockbuster product pipelines, a proprietary siRNA technology platform, and a global collaboration network, the company aims to revolutionize current treatment standards for chronic diseases by developing first-in-class and best-in-class siRNA therapies targeting significant unmet medical needs worldwide.

According to a Frost & Sullivan report, the global siRNA therapy market size will reach US$2.4 billion in 2024 and is expected to grow to US$50.3 billion by 2040, with a compound annual growth rate (CAGR) of 20.9%.

The development of siRNA therapy marks a fundamental shift in the medical field to address disease mechanisms directly at the nucleic acid level. This upstream mechanism enables siRNA to develop inhibitory drugs targeting nearly all human proteins, including "undruggable" proteins that are difficult to target with traditional technologies.

siRNA Therapy Brings Paradigm Shift to Chronic Disease Management with Three Key Advantages: Longer Durability and Higher Compliance, Favorable Safety Profile, and Lower Drug Interactions and Renal Function Impairment.

The company is prioritizing the advancement of three potential blockbuster product pipelines, including coagulation disorders, cardiometabolic diseases, and obesity. These strategic choices are based on their significant market potential and the company's ability to provide transformative siRNA solutions. In 2024, each of these therapeutic areas will feature at least one of the top three global best-selling drugs with annual sales exceeding $10 billion, along with various other drugs with annual sales reaching several billion dollars.

Representative of the main pipeline products,SRSD107 as the core product of the companyIt is a potential first-in-class siRNA drug targeting coagulation factor XI, currently undergoing a Phase II multicenter clinical trial in Europe, with plans to initiate another Phase II trial in China as well as in Australia/New Zealand.SRSD216 is a potential best-in-class siRNA targeting Lp(a), currently conducting Phase IIa trials simultaneously in China and the United States; andSRSD384 is a candidate drug targeting INHBE for obesity., with compelling preclinical data, is actively advancing IND application.

The PEPR platform, independently developed by the company, features chemical modification, target and sequence selection, siRNA sequence design and optimization, as well as advanced delivery technology. These characteristics enhance the stability and target binding of siRNA, enabling more effective and longer-lasting therapies. Currently, the company is advancing research on extrahepatic delivery systems to expand the scope of siRNA activity from the liver to tissues such as fat, skeletal muscle, heart, kidneys, and the central nervous system.

In terms of performance, for the six months ended June 30, 2023, 2024, and 2025, the company achieved other income and gains of approximately RMB 8.809 million, RMB 9.788 million, and RMB 144 million, respectively; during the same periods, the annual/period profit was approximately RMB -309 million, RMB -342 million, and RMB 34.461 million.