Chinese Drug Development Firm Ribo Completes $28M Series C1 Round

Suzhou Ribo Life Science Co. Ltd. (Ribo), a siRNA drug development company in China, announced today that it has raised RMB203 million (US$28.78 million) in a series C1 round of financing led by Panlin Capital and Trinity Innovation Fund.

Legend Capital, SDIC Innovation, Hanyang Capital, Blue Ocean Capital Group, Daxie Yungong Investment, Shenzhen Zhonghui Investment and other investors also participated in this sround.

Founded in 2007, Ribo was devoted to the development of innovative nucleic acid therapeutic drugs and related products. The company has formed a strong overall strength in various aspects of small nucleic acid innovation technology, drug varieties, research and development facilities, and professional technical and management teams.

At present, Ribo has established a wealth of small nucleic acid drug research and development pipelines, and its indications cover infections, tumors, metabolism, cardio-cerebral blood vessels and nerves and other major disease areas.

Proceeds of this round will be used for the promotion of clinical projects and the research and development of pre-clinical varieties at various stages.

The company has completed three rounds of financing including the latest, raising a total of more than RMB500 million (US$70.86 million).

(This article is translated from vcbeat.top. You can see the original article in Chinese here.)