Dec 05,2019
On December 5, 2019, Suzhou Ribo Life Science Co. Ltd., announced the successful completion of Series C1 financing worth RMB 203 million. This round of financing is jointly led by Panlin Capital, Trinity Innovation Fund, and followed by well-known institutions such as Legand Capital, SDIC Fund Management, Vast Capital, Blue Ocean Capital, InnoSpring, Yungong Jiajie Equity Investment, and Co-way Capital.
From its inception in 2007, Ribo has been fully committed to the R&D of oligonucleotide therapeutics. It has has developed comprehensive capacity in various aspects such as siRNA innovative technologies, drug varieties, R&D facilities, professional technologies, and management teams. Ribo has built up multiple R&D pipelines of the R&D of oligonucleotide therapeutics, with indications covering a number of fields such as infectious disease, tumor, metabolic diseases, cardio-cerebrovascular diseases, and nerve diseases. After Series A and Series B financing, the company has accelerated the R&D of product pipeline and oligonucleotide therapeutics delivery technology. At present, two varieties have entered the clinical trial stage, and many varieties are about to be put under application for IND. Ribo has established a siRNA-based liver targeted delivery technology platform which is at an advanced international level, serving as a strong support for the development of a number of reserve varieties. The funds raised in this round will be mainly used to support Ribo's R&D of products in each stage.
Dr. Liang Zicai, chairman of Ribo, said, "We are delighted that we have been recognized and supported by multiple investment institutions in this round of financing. Striving in the hottest field of biopharmaceuticals, oligonucleotide pharmaceuticals are forming the third revolutionary wave of modern pharmaceuticals after small molecule drugs and antibody drugs, showing great development depth and socio-economic prospects. We look forward to accelerating the development with the support of investors, continuing to deepen the R&D of oligonucleotide therapeutics technologies and varieties, and providing more effective treatment options for patients with diseases."
Mr. Li Yuhui, founding managing partner and chairman of Panlin Capital, said, "Over the past few years, the development of Ribo has been gratifying and promising. Under the leadership of Professor Liang Zicai, Ribo has constructed a mature technology platform. It has a series of products to enter the clinical practice and become a leader in the field of siRNA pharmaceutical development in China. We are honored to witness this process. Professor Liang is an excellent "entrepreneur among scientists" found by Panlin and more of an "innovator among entrepreneurs". He is pleased that Panlin Capital can become one of the firm supporters of Ribo and looks forward to a breakthrough in the next stage of Ribo."
Dr. Yin Zheng, the managing partner of Trinity Innovation Fund, said, "oligonucleotide therapeutics are an area of long-term concern to us, and the emergence of blockbuster drugs and clinical validation of key delivery technologies have established an increasing trend in the industry. Under the leadership of Professor Liang Zicai and the management team, Ribo has built a complete platform for developing new oligonucleotide therapeutics, developed delivery technologies with independent intellectual property rights, and established a rich pipeline for the R&D of drugs for siRNAs. Trinity Innovation Fund is pleased and honored to participate in this round of investment to help Ribo develop rapidly, and look forward to Ribo leading the development wave of oligonucleotide therapeuticsin China and moving against the wind."
About Panlin Capital
Panlin Capital is the earliest venture capital institution to explore and practice the theme of scientific and technological innovation leading consumption upgrading in the process of China's new economic development. It follows the logic of consumption upgrading, focuses on the fields of prevention, diagnosis and treatment of major diseases and develops the fields of intelligent transformation at the consumption supply end. Also, it continues to identify innovative technology companies and innovative technology entrepreneurs who can effectively meet new consumption or treatment needs by means of biotechnology or artificial intelligence technology innovation, and effectively improve supply efficiency and service quality, and invest in them to promote their rapid growth. It is the mission of Panlin Capital to find entrepreneurs among scientists, support innovators among entrepreneurs, cultivate innovative enterprises of Chinese science and technology with the investment of capital, promote the transformation of China's economic structure and the rapid development of the new economy using the strength of science and technology.
About Trinity Innovation Fund (TIF)
Trinity Innovation Fund is an equity investment management institution focusing on venture capital investment in the field of biotechnology and pharmaceutical innovation.
