Ribo Closes $28.8M Series C1 Funding

According to Yiou.com, Suzhou Ribo Life Science Co. Ltd.("Ribo")，a leading siRNA drug development company in China，has completed ￥203 million (US$28.8 million) Series C1 financing, co-led by Pan-Lin Asset Management and Baixun Investment Management, with participation from SDIC Fund Management and other well-known investment institutions. Proceeds of this fund will be used for the promotion of clinical projects and the research and development of products that are before the clinical stage.

Previously, Ribo has completed Series A and Series B financing respectively in 2015 and 2017, with a total amount of 395 million yuan. So far, it has raised a total of 598 million yuan in funding.

The first two rounds of financing have speeded up the research and development of Ribo's pipeline and its delivery technology for siRNA drugs. Currently, two products of Ribo have entered into phase II and III clinical trials. Besides, the company is applying for certification of several products. Based on the latest fund, Ribo has the ability to develop several drug candidates.

Ribo is devoted to the development of innovative siRNA drugs and related products. Through more than seven year's endeavor, Ribo has formed an enriched product pipeline from preclinical to clinical stages, which has heavily promoted siRNA drug research from China to Asia.

Since its establishment, Ribo has made great development in siRNA drug R&D, siRNA scale production, API quality research, GMP production line construction and GMP management. The company has developed the Liquid Phase Synthesis for siRNA independently. 

Over the years, Ribo has built strength on various siRNA drug development platforms, including target discovery, siRNA design and screening, chemical modification, delivery technology, PD/PK study, safety evaluation, clinical trial, etc. Ribo has explored and evaluated varieties of siRNA delivery systems, such as liposome, polymer, dendrimer, protein and peptide complex, etc. With the platform establishment and the leading delivery technology, Ribo has built up an enriched product pipeline.

Pan-Lin Asset Management is a Shanghai-based private equity firm which is mainly engaged in assets management in equity investment and post-investment stages.

Pan-Lin Asset Management is a private equity fund manager registered with the China Securities Investment Fund Association. So far, the company has successfully initiated and managed seven PE funds, including a healthcare industry venture capital fund and an M&A fund for the environmentally-friendly industry. The company, along with its managed PE funds, is collectively known as Panlin Capital.

SDIC Fund Management is a private equity that manages funds and raises nearly 60 billion yuan at present. The management funds cover financial institutions, social security funds, state-owned and private capital, and it is one of the largest professional private equity management institutions in China.