Vaccine developer Walvax Biotechnology has co-led a $105m series D round for Sirnaomics, a US-headquartered company developing treatments for conditions with unmet medical need.
The round was co-led with Sunshine Riverhead Capital, a private equity fund manager for insurance firm Sunshine Insurance, and investment manager Rotating Boulder Fund. It included Sangel Capital, Longmen Capital, HongTao Capital and Alpha Win Capital.
Sirnaomics is working on RNAi medicines to treat diseases including cancer, fibrosis, metabolic diseases and viral infections. It announced positive results from a phase 2a clinical trial for STP705, a drug candidate for non-melanoma skin cancer, in April this year.
The proceeds from the oversubscribed round will fund more clinical trials for STP705 and a second candidate known as STP707, which is being developed to treat liver cancer.
Patrick Lu, founder, president and chief executive of Sirnaomics, said: “We are thrilled to add a well-regarded syndicate of investors to the series D financing.
“This type of investor base will not only strengthen our financial foundation, but also brings tremendous experience and expertise to Sirnaomics as it enters the next phase of growth and prepares for an initial public offering in near future.”
The company closed a $47m series C round in April 2019 featuring CR-CP Life Sciences Fund, which is managed by conglomerates China Resources Group and Charoen Pokphand Group.
Rolling Boulder, Sangel Capital, Rich Yield Capital, Legend Sky Investment, Yuexiu New Industrial Investment, HuaKong Equity Investment and Qianhai Shenghui Investment also took part in the series C round.
Sirnaomics had previously received at least $25m in funding from backers including Value Measured Investment.
