Ribo Closes ￥470M Series C2 Funding Round

According to VCBeat, Suzhou Ribo Life Science Co. Ltd. ("Ribo") has raised ￥470 million in the Series C2 funding. This round is co-led by China State-Funded Venture Capital Fund, China Capital Qide Fund, and Hillhouse Venture Capital, with participation from Hengxu Capital, Everest Venture Capital, Sinopharm China Capital Fund, Shenzhen Co-way Capital, Shanghai Free Trade Zone Equity Fund and Hongtao Capital. 

Proceeds from this round will be used for the research and development of Ribo's pipelines in various stages.

Ribo is devoted to the development of innovative siRNA drugs and related products, covering infection, tumor, metabolism, cardio-cerebrovascular and nerve diseases. Through more than seven year's endeavor, Ribo has formed an enriched product pipeline from preclinical to clinical stages, which has heavily promoted siRNA drug research from China to Asia.

Since its establishment, Ribo has made great development in siRNA drug R&D, siRNA scale production, API quality research, GMP production line construction and GMP management. The company has developed the Liquid Phase Synthesis for siRNA independently. 

At present, two pipelines of Ribo have entered clinical phase II and phase III respectively. The application for clinical trials of its self-developed siRNA drug against hepatitis B virus infection was formally accepted by NMPA in early 2020, and a number of other pipelines have entered the clinical trial application.

Based on its own intellectual property, Ribo has established a world-leading platform for targeted delivery of siRNA drugs and utilized it to treat a number of hepatogenic diseases, laying a foundation for the development of China's pharmaceutical industry in the RNAi field.

China State-Funded Venture Capital Fund, established in 2016, is a state-level industrial investment fund approved by the State-Owned Assets Supervision and Administration Commission of the State Council (SASAC), with AUM of 200 billion yuan. The fund mainly invests in scientific and technological innovation. Biomedicine is one of the major investment areas of the fund.

China Capital Qide Fund is an equity investment fund of China Capital Investment Group ("CICG") focusing on the investment in innovative medicine.