October 9, 2023, San Diego and Shanghai – Sirius Therapeutics today announced that it has completed a US$60 million Series B financing to advance the clinical development of the Company’s novel siRNA therapeutics and the continued innovation of the next-generation RNA delivery technologies. This financing round was led by Hankang Capital, followed by Delos Capital, while OrbiMed and Creacion Ventures, two lead investors from the previous rounds of financing, also joined this round. To date, Sirius has successfully raised nearly US$100 million in funding.
Dr. Qunsheng Ji, CEO of Sirius Therapeutics, said, “We truly appreciate our investors’ continued support to Sirius’ organization, technology platforms, strategy, and their recognition of everything the company has achieved since its inception. The nearly US$100 million we have received thus far in funding will be allocated to advance the human studies of our investigational assets, further expand our competitive pipeline, and ultimately accelerate the development of high-quality and affordable siRNA therapeutics for the benefit of patients around the world.”
Mr. Quanhong (Kevin) Yuan, the Founding Partner of Hankang Capital said, ‘’Hankang Capital has been keenly tracking technology breakthroughs in life sciences and their clinical applications. RNA-silencing oligonucleotide therapeutics have the potential to transform the standard of care for the treatment of chronic disorders, in particular cardiovascular diseases. Sirius represents the next generation of unique insights into CVD treatment, with its exceptional management team, state-of-art oligonucleotide platform, as well as its highly differentiated pipeline. We are excited to lead this round of financing to empower Sirius’s endeavor to deliver paradigm-shifting therapeutics to patients with cardiovascular and metabolic diseases worldwide.’’
Mr. David Guowei Wang, Partner and Senior Managing Director, Asia, at OrbiMed and Chairman of Sirius Therapeutics, commented, “siRNA medicine has already shown its compelling potential and therapeutic utility. Sirius is dedicated to developing a new-generation of RNA therapeutics and a portfolio of practice-changing solutions for the management of chronic diseases. Adopting a unique approach to target selection and product development, Sirius has already built a highly innovative pipeline with well-balanced risk and a proprietary technology platform. We hope its innovative technology and products will yield more breakthroughs for the management of chronic diseases.”
About Sirius Therapeutics
Sirius is an innovative biotech company developing novel RNAi therapies for global markets. We are dedicated to providing solutions for physicians and patients to manage cardiovascular diseases. Our aim is to be a leading developer of RNAi therapeutics for the management of chronic diseases.
After founding in 2021, Sirius established an innovation, research and development center in the United States and a transformation center in China to address unmet patient needs in chronic disease. Leveraging RNAi technology, we offer a portfolio of solutions for patients to change the future of cardiovascular disease.
OrbiMed is a healthcare investment firm, with approximately $17 billion in assets under management. OrbiMed invests globally across the healthcare industry through a range of private equity funds, public equity funds, and royalty/credit funds. OrbiMed’s team of over 100 professionals is based in New York City, San Francisco, Shanghai, Hong Kong, Mumbai, London, Herzliya and other key global markets.
About Creacion Ventures
Creacion Ventures is a cross-border venture investment USD fund with offices in Boston, the United States, and Shanghai, China. The fund specializes in early-stage investment in the biopharmaceutical and medical devices sectors and discovering industry-shaping opportunities in the life science and healthcare space, with a particular focus on building incubator platforms in China and the U.S. Creacion Venture has a wealth of experience in cultivating biotech startups.
About Hankang Capital
Hankang Capital is a healthcare-dedicated venture capital fund based in China and with a global vision. To fulfill Hankang’s mission in empowering biomedical innovation to safeguard human health, Hankang Capital has established strong partnership with top-notch entrepreneurs and pioneering scientists to develop breakthrough therapies addressing significant unmet medical needs. With AUM close to RMB 5 billion, Hankang Capital has invested in multitude of companies, many of which have grown into industry leaders in their respective sectors.
About Delos Capital
Delos Capital is a healthcare-focused fund, investing in growth platforms in Greater China and relevant innovation in the U.S. in both therapeutics and medical technology areas. Delos Capital seeks to achieve returns through supporting these companies in their development and also helping to create additional value from collaboration between these companies. With the extensive expertise and experience in both Greater China and the US, Delos Capital believes that it is well positioned to help with such collaboration. Delos Capital currently manages two funds, with over US$ 330 million in total capital under management.