The investment round was led by its existing investor Rotating Boulder Fund and new investors Sunshine Riverhead Capital and Walvax Biotechnology with the participation of existing investors Sangel Capital and few new Investors HongTao Capital, Longmen Capital and Alpha Win Capital. The bio pharmaceutical company is involved in R&D of RNAi therapeutics. The investment proceeds will be utilized to fund the continuation of development of its RNAi therapeutics which is used in the treatment of human disorders like cancer, metabolic diseases, viral infections and fibrosis diseases.
Sirnaomics had positive news for its phase 2A open label test in squamous cell carcinoma for (ISSCC) STP705 in situ in April. ISSCC is a skin cancer which is considered less dangerous than Melanoma but can still be proved deadly. The company will conduct several clinical studies for the evaluation of candidates for its lead products, STP705 and STP707. These two drugs are the dual aiming siRNA therapeutics that cause action against TGF-beta1 and COX-2. It is for both the systemic and local administrations for treatment of various fibrotic and cancer diseases. Their clinical trial will also be focused on immune oncological research of these siRNA inhibitors. This oncological evaluation will be based on potential effects of therapeutic with the immune checkpoint inhibitors at clinical and preclinical settings.
The founder, CEO and President of Sirnaomics, Patrick Lu said, “It is quite exciting for us to get the series D round funding closed within the right time.” The Series D funding round was oversubscribed which validates that RNAi are going well to attract interest from the investment community and is fuelled by innovative technologies and quite impressive clinical results. We are thrilled to associate with a well -regarded syndicate of financers for the series D funding.
“This kind of investor base will not only make the financial foundation of the company strong but will also bring good expertise and experience to the company when Sirnaomics enters the new phase of development.” In the coming future the plan to prepare initial public offerings.
The bio pharmaceutical company, Siranomics develops therapeutics for human diseases using the RNA interference technology and was founded in 2007 by Patrick Y Lu and David M Evans. It is a clinical stage company which uses the RNAi technology in research and development of novel therapeutics focusing on anti fibrotic therapeutics oncology and viral infections. The proprietary technology of Saranomics is (PNP) Polypeptide Nanoparticle which is used for RNA small interfering drug delivery (siRNA). The technology allows the excess of TMV that is tumor microenvironment and various liver cells. The company is based in Maryland, Gaithersburg, US.
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