Sirnaomics, Inc., a Gaithersburg, Maryland,-based biopharmaceutical company focused on the discovery and development of RNAi therapeutics, closed a US$10m Series B funding round.
The round was led by Hong Kong based venture capital firm Value Measured Investment Limited.
The company intends to use the funds for clinical development of its anti-fibrosis programs. It expects to enter Phase I clinical trial with its lead product candidate, STP705, in early second half of 2016.
Led by Founder and CEO Dr. Patrick Y. Lu, and Dr. Michael Molyneaux, Chief Medical Officer, Sirnaomics has developed a portfolio of intellectual properties in therapeutic areas of interest including anti-fibrotic medicine, cancer therapeutics, and others.
STP705 is an anti-fibrosis siRNA (small interfering RNA) therapeutic candidate, which leverages a dual-targeted inhibitory property and PNP-enhanced delivery to directly diminish the tissue fibrotic activity in various animal models, from skin hypertrophic scar to liver and lung fibrosis.
Sirnaomics has subsidiaries in Suzhou and Guangzhou, China.