Ribobio's Overseas R&D Center Secures $33 Million Equity Financing to Accelerate Innovative Small Nucleic Acid Drug Development

Suzhou Ribo Life Science Co., Ltd. ("Ribo Life Science" or "the Company") announced that its overseas R&D center, Ribocure Pharmaceuticals AB ("Ribocure Pharmaceuticals"), has successfully completed a $33 million equity financing.

This round of financing was led by the renowned Swedish investor Mr. Erik Selin, with additional investment from Dr. Jacob Torell, CEO of GoCo Health Innovation City in Gothenburg, Sweden. Following the completion of the financing, Mr. Selin joined the board of directors of Ribocure Pharmaceuticals AB. The successful completion of this financing round marks another significant milestone in the global development progress of Ribo Life Science, signifying international capital's strong recognition of the globalization pathway for innovative drugs from China.

    Gan Liming, Ph.D., Co-CEO of the company and President of Global R&D, said:"We are deeply honored to have Eric and Jacob join Ribo Life Science as strategic investors. Their professional insights and industry resources will strongly advance our development of innovative therapies, benefiting patients worldwide."

     Mr. Zhang Su, CFO and Secretary of the Board, said:"The previous financings of Ribo Life Science have received strong support from many leading institutions in China. The completion of this international financing by Ribo marks a milestone in the globalization of the company's resource allocation, indicating that Ribo Life Science has entered a new stage of development."

     Dr. Zicai Liang, Chairman of the Board, said:"In the global pharmaceutical innovation landscape, globalization has become a core competitiveness for Chinese pharmaceutical companies. Ribo Life Science deeply integrates local R&D advantages with international advanced experience, building a world-class small nucleic acid drug development system, providing strong support for participating in global market competition."