Sirnaomics In, a US-headquartered biopharmaceutical company with operations in China, has raised $22 million in a Series C2 funding round, led by Hong Kong-based CR-CP Life Sciences Fund, according to an announcement.
CR-CP Life Sciences Fund is a joint venture between Hong Kong-based China Resources Group and Thailand’s Charoen Pokphand Group.
Other investors joining the round are Shanghai-based Rich Yield Capital, Rolling Boulder Investment from Shenzhen and US-based Legend Sky Investment.
This marks the second tranche of Series C funding round for the company, that took the total corpus being raised in this round to $47 million. The first round of Series C funding was completed in June last year at $25 million, led by Yuexiu New Industrial Investment. Other investors who participated in the round were Sangel Biomedical Venture Capital, HuaKong Equity Investment and Qianhai Shenghui Investment.
“Completion of C round of financing strongly positions Sirnaomics for the next phase of technology and product development, in particular for our clinical studies to treat various types of cancer,” said Patrick Lu, president and chief executive officer, Sirnaomics Inc.
Sirnaomics plans to use a part of the funds to support its clinical programs for RNAi therapeutics for treatment of a range of cancer and fibrotic diseases. The clinical developments are done in the US and China, the two major markets of oncology and fibrosis. The other part of the money will be used to advance its technology platforms.
The company’s lead product is undergoing a phase II clinical study and is being investigated for treatment of non-melanoma skin cancer.
Prior to the Series C round, Sirnaomics has raised $10 million in a Series B round, led by Hong Kong-based venture capital firm Value Measured Investment Ltd.