Sirnaomics Ltd. (“Sirnaomics” or “Company”, together with its subsidiaries, the “Group”, stock code: 2257.HK), the RNA therapeutics biopharmaceutical company with strong presence in both China and the U.S., and the first company to achieve positive Phase IIa clinical outcomes in oncology for an RNAi therapeutics, is officially listed and commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”) today.
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| Sirnaomics’s listing ceremony in Suzhou: Ms. Yun Monica Zhang, China Chief Operating Officer, Board Secretary and Joint Company Secretary (Left); Dr. Yang Lu, Founder, Chairman, Executive Director, President and Chief Executive Officer (Second left); Mr. George Ji, Chief Operation Officer (Second right); Dr. Edward Yongxiang Wang, Chief Production Officer (Right) |
The total number of offer shares under the Global Offering amounts to 7,540,000 shares, with the final offer price determined at HK$65.90 per offer share. The net proceeds from the Global Offering to be received by the Company, after deduction of the underwriting fees and expenses paid and payable by the Company in connection with the Global Offering, are estimated to be approximately HK$395.7 million. The Hong Kong offer shares initially offered under the Hong Kong Public Offering have been slightly over-subscribed, where the total number of valid applications amounted to approximately 5.68 times of the total number of Hong Kong offer shares initially available for subscription under the Hong Kong Public Offering. The offer shares initially offered under the International Offering have also been slightly over-subscribed by approximately 1.22 times.
The product pipeline of Sirnaomics has over a dozen of candidates for a wide range of therapeutic indications across rare diseases and diseases with large patient populations covering oncology, fibrosis, medical aesthetics, antiviral, cardiometabolic diseases and other fields. Its product candidates currently span all stages from preclinical research and IND-enabling studies to Phase I and Phase II clinical trials, creating an enriched portfolio and an extended timeline of product candidates. The proprietary delivery platforms for administration of RNA-based therapeutics are the foundation Sirnaomics’ pipeline, and the related proprietary PNP and novel GalNAc delivery platforms confer advantages over conventional delivery platforms. The Company believes its highly innovative RNAi delivery platforms set Sirnaomics in a class by itself. The PNP delivery platform allows delivery of both siRNA and mRNA to diseased cells via local or systemic administration, providing distinct advantages in low toxicity, easy manufacturing and the capability to reach many targeted organs and cell types. The results of Phase IIa clinical trial in oncology validate both the effectiveness of its PNP delivery platform and the therapeutic targets for isSCC, positioning the Company for accelerated development of other pipeline products using the same PNP delivery platform. The Company’s core product candidate STP705, another clinical stage product candidate STP707, and at least eight other preclinical candidates all utilize the PNP delivery platform. RNAimmune, a controlled subsidiary of Sirnaomics, also applies PNP and a related proprietary delivery platform based on polypeptide-lipid nanoparticles (PLNP), to develop mRNA-based therapeutics and vaccines.
Dr. Patrick Y. Lu, Founder, Chairman of Board, President and CEO of Sirnaomics said, “Today marked a significant milestone in Sirnaomics’ history. Our successful debut in the Hong Kong stock market shows global investors’ profound recognition for our strategic model, growth potential, proprietary and novel drug delivery platforms, rich product pipeline and experienced management team. We are so proud and would like to express our sincere gratitude to investors for their trust and support to Sirnaomics. We are committed to becoming a fully-integrated international biopharmaceutical company. Leveraging its deep experience in RNA therapeutics and novel delivery platform technologies, the Company will continuously advance the development of innovative therapeutic modalities for the treatment of a broad range of diseases and strengthen our intellectual properties to maximize the clinical potential to rapidly discover, develop and commercialize more transformative therapeutics and vaccines for patients around the world.”
About Sirnaomics Ltd.
Sirnaomics Ltd. (“Sirnaomics” or “Company”, stock code: 2257.HK) is an RNA therapeutics biopharmaceutical company with product candidates in pre-clinical and clinical stages that focuses on the discovery and development of innovative drugs for indications with medical needs and large market opportunities. The Company is the first clinical-stage RNA therapeutics company to have a strong presence in both China and the U.S, and also the first company to achieve positive Phase IIa clinical outcomes in oncology for an RNAi therapeutics for its core product, STP705.
Topic: Press release summary
Sectors: BioTech, Healthcare & Pharm
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