Sino-US biopharma player gets $10m round
Sino-US biopharmaceutical company Sirnaomics has raised $10 million in a Series B round led by Hong Kong-based venture capital firm Value Measured Investment.
The round brings the company's total venture and grant financing to $25 million, according to a statement. The capital will be used to advance development of anti-fibrosis programs including the trialing of a product that exploits technology related to the biological process of RNA interference (RNAi).
"This round of financing demonstrates the tremendous potential in the RNAi therapeutics as a targeted precision medicine to treat human diseases with high unmet need," said Patrick Lu, Sirnaomics' founder and CEO. "Sirnaomics intends to build on the recent success demonstrated by other companies in the sector by leveraging our tremendous knowledge and experience in RNAi and delivery technologies."
Founded in the US in 2007, Sirnaomics operates in China via offices in Suzhou and Guangzhou. It claims more than 100 year of combined experience in its biopharmaceutical, financial, clinical and business management across both the US and China.
The investment builds on a recent spate of Sino-US activity in the medical sector, following closely on Qiming Venture Partners' move to raise a healthcare fund in the US and a $50 million Series C round for China's Hua Medicine that included participation from cross-border investor Ally Bridge Group.
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