Ribo Life Science Files for Hong Kong IPO with Six Proprietary siRNA Drug Candidates in Clinical Trials

China Finance Network April 27th: Recently, Suzhou Ribo Life Science Co., Ltd. ("Ribo Life Science" or "the Company") officially submitted the A1 listing application to the Hong Kong Stock Exchange.

Data shows that Ribo Life Science was founded in 2007, focusing on the development of RNA interference (RNAi) technology and the industrialization of small nucleic acid drugs. It is one of the earliest pioneers in this field globally. In its development history, the company has received strategic investments from several well-known institutions such as Legend Capital, SDIC Innovation, China Venture Capital, and Puhua Capital.

Following small molecule and antibody drugs, small nucleic acid drugs, as a completely new therapeutic paradigm, are forming the third wave of modern pharmaceuticals. Globally, more than 20 small nucleic acid drugs have been approved for marketing. According to Frost & Sullivan data, the global small nucleic acid drug market grew from $2.7 billion in 2019 to $4.6 billion in 2023, with a compound annual growth rate (CAGR) of 14.3%. Driven by continuous technological advancements, increasing regulatory approvals, and growing clinical validation, the global small nucleic acid drug market is expected to experience accelerated growth, reaching $46.7 billion by 2033.

Among them, small interfering RNA (siRNA) drugs represent the most disruptive direction in nucleic acid pharmaceuticals, with the potential to break through the traditional "high-risk" model of innovative drug R&D. On one hand, siRNA technology can increase the success rate of clinical R&D from less than 10% for traditional drugs to over 60%. On the other hand, it can significantly shorten the R&D cycle, requiring only 20-24 months from target identification to clinical application submission. Moreover, for many patients with chronic diseases, the ultra-long-acting mechanism of siRNA drugs allows a single administration to maintain efficacy for 6-12 months, greatly enhancing treatment effectiveness and patient compliance.

Internationally, companies mainly engaged in the layout of siRNA therapy include Alnylam, Arrowhead, Novartis, Novo Nordisk, etc. Suzhou Ribo Life Science Co., Ltd., which has recently filed for listing on the Hong Kong Stock Exchange, is the small nucleic acid pharmaceutical company with the most clinical-stage assets in China. Through independent innovation, it has established a rich pipeline of siRNA drugs, covering multiple disease areas, especially chronic disease treatment fields such as cardiovascular, metabolic, kidney, and liver diseases.

Currently, there remains a significant unmet demand among patients in the chronic disease treatment market, and long-acting treatment solutions represented by small nucleic acid drugs are regarded as a new breakthrough in the chronic disease field.

According to the prospectus, Ribo Life Science currently has six self-developed siRNA drugs in clinical trial stages, covering seven indications, four of which have entered Phase 2 clinical trials; additionally, more than 20 preclinical assets are being actively advanced. The company’s core product in cardiovascular, metabolic, and renal diseases, RBD4059, is the first of its kind globally to advance to clinical trials and is progressing the fastest (First-In-Modality). The key product RBD5044 shows Best-In-Class potential; another key product, RBD1016, will serve as a pillar therapy in combination treatments for hepatitis B virus in the field of liver diseases and is crucial for achieving functional cures. Other pipelines under development also include multiple products with globally leading First-In-Class (FIC) or Best-In-Class (BIC) potential.

According to reports, the core product of Ribo Life Science, RBD4059, is the world's first siRNA drug for the treatment of thrombotic diseases and has the fastest clinical development progress, currently in Phase 2 clinical trials. RBD4059 achieves its anticoagulant/antithrombotic effect by inhibiting FXI and blocking the activation of the intrinsic coagulation pathway. It is not only expected to become a more effective antithrombotic treatment but also has the advantage of a lower risk of bleeding. Its long-lasting effect can also enable low-frequency dosing to improve patient compliance, making it the best treatment option for a wide range of patients with thrombotic diseases.

In the field of hyperlipidemia, Ribo Life Science's key investigational product RBD5044 is the world's second siRNA drug targeting APOC3 to enter clinical development, showing the best potential (Best-In-Class) among siRNA candidates for treating hypertriglyceridemia. As of December 31, 2024, there are no approved APOC3-targeting therapies globally for treating hypertriglyceridemia. With the low-frequency dosing and long-lasting efficacy characteristic of siRNA therapies, RBD5044 is expected to provide patients with a more convenient treatment option compared to the daily medication paradigm.

In addition, Ribo Life Science's RBD7022 is the second globally to enter clinical development and is also a promising PCSK9-targeted siRNA for treating hypercholesterolemia.

Another key investigational product of the company, RBD1016, is an siRNA candidate drug for the treatment of chronic hepatitis B, and represents a crucial pillar therapy in the future combination approach to achieve functional cure of hepatitis B. The results of the Phase 1 clinical trial of RBD1016 have already demonstrated a sustained reduction in HBsAg following a single dose, showing good safety and tolerability. The Phase 2a clinical trial of RBD1016 was fully enrolled with all patients by November 2024. To date, no siRNA drugs have been approved globally for the treatment of chronic hepatitis B.

It is reported that Ribo Life Science, as one of the earliest companies in China to focus on the development of small nucleic acid drugs, had a total of 458 patents in major jurisdictions such as China, the European Union, the United States, and Japan as of December 31, 2024. These include 229 approved patents and 229 pending applications, covering small nucleic acid sequences, chemical modifications, targeted delivery technologies, combination therapies, and clinical applications, making it one of the small nucleic acid pharmaceutical companies with the largest number of patents globally.

Ribo Life Science stated that the company has already built a unique competitive barrier in the global small nucleic acid pharmaceuticals track and is accelerating its progress toward becoming a leading global biopharmaceutical enterprise.