Apr 03,2020
Apr.3 Kunshan, Jiangsu Province
Suzhou Ribo Life Science Co., Ltd. announced today that 470 million yuan was raised during its Series C2 financing. In this round of financing, the lead investors included China Venture Capital Fund Corporation Ltd., CICC Qide Fund, and GL Ventures, and the co-investors included renowned investment institutes such as Hengxu Capital, Everest VC, Sinopharm-CICC Capital, Shenzhen Co-way Capital Services Co., Ltd., Shanghai Free Trade Zone Equity Fund Management Co., Ltd., and Hongtao Capital. The fund raised will continue to support drug development at Ribo throughout all stages.
From its inception in 2007, Ribo has been fully committed to the R&D of oligonucleotide therapeutics and has developed comprehensive capacity in terms of small nucleic acid technology, therapeutic products, R&D facilities, team building etc.Ribo has built up multiple R&D pipelines of oligonucleotide therapeutics covering a number of fields such as infectious diseases, tumor, metabolic diseases, cardio-cerebrovascular diseases, and nerve diseases.
Two drugs of Ribo are respectively in phase II and phase III clinical trials. At the beginning of 2020, NMPA accepted a clinical trial application by Ribo for its independently developed anti-HBV oligonucleotide therapeutic. Additionally, a number of other drugs are in the phase of application for clinical trials. Based on the proprietary intellectual property rights, Ribo has developed a world-leading liver-targeted oligonucleotide therapeutic delivery technology platform that has been applied to the development of oligonucleotide therapeutics to treat hepatogenic diseases. It has laid a foundation for the accelerated development of China's oligonucleotide pharmaceutical industry.
Dr. Liang Zicai, Chairman of Ribo, said: "With two international oligonucleotide therapeutics successively being marketed, we are finally witnessing our efforts bearing fruit after nearly two decades of challenges and strenuous efforts in oligonucleotide therapeutic R&D. Thanks to over a decade of unremitting efforts, Ribo has entered a time of rapid development. We are grateful to investors for their recognition and strong support of Ribo. We will spare no effort to continue to promote research and development of oligonucleotide therapeutics and technological innovation. We will strive to bring more accurate and efficient therapies to patients all over the world as soon as possible."
Mr. Ma Shaojing, Board Director and General Manager of China Venture Capital Fund Corporation Ltd., said: "Oligonucleotide pharmaceuticals have grown into a high-potential field. Ribo well deserves its leadership role in China's oligonucleotide pharmaceutical industry. Under the leadership of Dr. Liang Zicai, Ribo has independently developed the key technological capabilities that are scarce in the industry and has built up a pipeline for innovative products that can truly meet real-world clinical needs. This investment will help to promote breakthroughs and innovations in China's biotechnology and the industrialization of original research. It is consistent with the strategic direction of the China Venture Capital Fund Corporation." Ms. Liang Ying, Director of CICC Qide Fund, said: "R&D of oligonucleotide therapeutics is based on a Nobel Prize-winning discovery. There is every reason to believe that the next decade will witness explosive growth of oligonucleotide therapeutics after the bottleneck concerning oligonucleotide therapeutic delivery system is removed. As the only company that has pioneered the core technology of GalNAc-based delivery in Asia, Ribo has been keenly focusing on the field for years and is fully prepared to bring key oligonucleotide therapeutics created and made in China to the whole world."
About China Venture Capital Fund
Established with approval by the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council in 2016, China Venture Capital Fund (CVC Fund) is a nation-level industrial investment fund with a total fund size of 200 billion yuan. The fund mainly invest in scientific and technological innovation and technological upgrading. Biomedicine is one of the key areas of CVC Fund’s investment.
About CICC Qide Fund
CICC Qide Fund (Xiamen) Innovative Biomedical Equity Investment Fund (CICC Qide Fund) is an equity investment fund and a subsidiary of CICC Capital Operation Co., Ltd. (CICC Capital), specializing in investment in innovative drugs. The fund is a major breakthrough in CICC Capital's investment in the biomedical industry. With excellent performance, brand reputation, and investment management, CICC Qide Fund has won recognition and support of many well-known Fund of Funds, institutional investors, listed companies, and CICC Wealth clients. CICC Qide Fund has over-raised funds within a short period of time despite unfavorable trends. CICC Qide Fund has become a leading RMB biomedical fund during the past few years.
About GL Ventures
A subsidiary of Hillhouse Capital Group, GL Ventures is a venture capital fund focusing on early innovative startups, mainly in the following four fields: bio-medicine and medical equipment, software service and original scientific and technological innovation, consumer-oriented Internet and relevant technology, and emerging consumer brands and services. Established in 2005, Hillhouse Capital Group is committed to discovering and creating value, and is one of the largest investment institutions in Asia. Hillhouse has been investing heavily in biomedicine and healthcare. Hillhouse is committed to creating a "people-oriented medical ecosystem that focuses on supporting innovation". With solid investment and industry research capabilities, GL Ventures has invested in a large number of innovative companies, including BeiGene, Innovent Biologics, Junshi Biosciences, I-Mab Biopharma, Frontage Laboratories, NanoMicro, Medcaptain, Pins Medical, SMO ClinPlus, Peijia Medical, Perfect Diary, IJOVO, ZOOM, DEEPEXI Tech, XforcePlus, Yunzhangfang, Moka, Hetao Coding, Codemao, Magic Ears, Kaochong, Moreticket, Beidian, and Shanzhen. In the future, GL Ventures will continue to look for promising startups and help them grow into future industrial leaders.
