SanegeneBio Raised nearly $100 Million in Series A+ Financing Led by Tencent Investment and Yuanbio Venture Capital, to Advance Development of RNAi Therapeutics

Recently, SanegeneBio announced that it was raised over $80 million (nearly 600 million yuan) in series A+ financing. In this round of financing, the lead investors are Tencent Investment and Yuanbio Venture Capital, and the co-investors includes Northern Light Venture Capital, C&D Emerging Investment, ORIZA Holdings, Shanghai Healthcare Capital, Shenzhen Capital Group, TEDA Venture Capital. Also, old investors continued to support this round including K2 Venture Partners, GL Ventures, Qiming Venture Partners, TF Capital, Alwin Capital and Lingang Lanwan Life and Science FundⅠ. This fund raised will continue to accelerate the IND application and clinical trials of the company's pipeline for cardiovascular and metabolic diseases and immune-mediated diseases, as well as advancing the development of extrahepatic delivery platforms and drug discovery.

So far, SanegeneBio raised over $130 million in 3 rounds of financing, which was supported by top-tier investors including K2 Venture Partners, GL Ventures, Qiming Venture Partners, TF Capital, Alwin Capital, Lingang Lanwan Life and Science FundⅠ and Lanhu Capital, etc.

Founded in 2021, SanegeneBio focuses on the development of novel RNAi therapeutic. SanegeneBio was founded by a team of industry-leading experts in siRNA area, and its core team has decades of multidisciplinary biopharma experiences in senior roles. SanegeneBio has established proprietary chemical modification platform, hepatic and extrahepatic delivery platforms. The company lays out a variety of pipelines based on the LEAD™ (Ligand and Enhancer Assisted Delivery) platform, covering cardiovascular and metabolic diseases, immunology-related diseases, and nervous system diseases. Among them, SGB-3403, a class 1 innovative drug for the treatment of hypercholesterolemia, has entered the clinical trial stage in China and Australia, one RNAi drug has submitted an IND application in Australia, two drugs are in the IND-enabling studies, and other pipelines are in progress simultaneously. During this period, we have applied several patents including delivery platforms, chemical modifications, target sequences and candidates continuously building strong technology barriers.

“This round of financing is greatly significant to SanegeneBio’s development, and we are very grateful to our investors for their recognition and support. This financing will help us accelerate the clinical progress and global reach of our core pipeline, strengthen the core competitiveness of our existing platforms, and explore the development of new leading technologies. It will also address unmet clinical needs and offer safe, effective, and accessible innovative RNAi therapeutics to patients earlier.” said Dr. Weimin Wang, founder and chief executive officer of SanegeneBio.

Yuanbio Venture Capital, one of the leading investors in series A+ financing, said that small nucleic acid drugs have become one of the most innovative therapeutics in the field of biomedicine in recent years, with promising application prospects. Relying on the team's profound siRNA drug discovery technology and excellent execution efficiency, SanegeneBio has quickly established a robust RNAi drug discovery platform and broad RNAi portfolio to accelerate the development of novel and differentiated RNAi drugs. Yuanbio Venture Capital is optimistic about the growth potential of SanegeneBio in the field of RNAi and will help the company’s new drug pipeline enter the clinical stage as soon as possible, to provide patients with effective and accessible solutions.

Northern Light Venture Capital said that since it is awarded the Nobel Prize in 2006 and six drugs were approved in the past five years, RNAi technology has gone through 17 years of ups and downs, and its therapeutic field has expanded from rare diseases to common major diseases, showing that it’s a rare investment track in the field of biotechnology drugs that combines certainty and explosiveness. The founder team of SanegeneBio have made key contributions to RNAi therapeutics, who have over 20 years of industrial experience in several international leading RNAi therapeutics companies. With the excellent leadership of the team, Sanegene is expected to quickly grow into an international industry leader.

K2 Venture Partners said that, it is an honor to lead the early stage investment since the establishment of SanegeneBio, and continue to deeply participate in and help the company complete this round of financing. We have witnessed the development and growth of Sanegene along the way, and we are always optimistic about the company's R&D strength, execution efficiency and pipeline layout strategy, and look forward to the company becoming a leader in the field of RNAi in the future, and we will continue to support the company's development.

GL Ventures said that, RNA drugs have developed rapidly in recent years, with several small nucleic acid therapies such as siRNA and ASOs being approved. The market space and growth potential of these drugs are enormous. The founder team of SanegeneBio has been deeply engaged in siRNA area for many years and has world-class R&D experience and technology accumulation. The company has already established an efficient siRNA drug discovery platform, and its first liver-targeted RNAi drug has been approved to enter clinical trials. At the same time, Sanegene is advanceing in the development of extrahepatic delivery platforms, which has been shown positive results in multiple targets and organs and is expected to unlock broader areas of disease treatment and address larger unmet clinical needs.

Sidley Austin LLP served as legal counsel to SanegeneBio in this round of financing.

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