Healthcare Industry News: HSMN NewsFeed
News Release - August 2, 2022
Sironax Announces Closing of $200 Million Series B FinancingBEIJING, Aug. 2, 2022 -- (Healthcare Sales & Marketing Network) -- Sironax, an emerging biotechnology company dedicated to the discovery and global development of novel treatments for patients with age-related degenerative diseases, today announced the completion of a $200 million Series B financing. The round was led by Gaorong Capital and Yunfeng Capital, with participation from existing investors including Temasek, Invus, F-Prime Capital, Eight Roads, ARCH Venture Partners, K2 Venture Partners and lead investors from previous financings. In addition to the co-leads, new investors include MSA Capital, CBC Group, Long River Investments, LSV Capital, Superstring Capital, and Future Innovation Fund as well as a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA). With the closing of this round, the Company has raised over $300 million to date.
Sironax's pipeline is comprised of multiple programs with a focus on key mechanisms underlying age-related degenerative diseases including regulated cell death, neuroprotective pathways and neuroinflammation. Sironax plans to use the proceeds to support the ongoing clinical development of its portfolio of receptor-interacting serine/threonine-protein kinase 1 (RIPK1) inhibitors in addition to the continued expansion of its R&D footprint and pipeline of potential best- and first-in-class candidates for age-related degenerative diseases.
"We are pleased to be supported by a syndicate of leading investors to enable us to achieve our vision of bringing transformational therapies to patients around the globe whose lives are impacted by a broad range of degenerative diseases," said Aaron Ren, Ph.D., Chief Executive Officer of Sironax. "Building upon groundbreaking discoveriesóincluding many by our co-founder Dr. Xiaodong Wangówe have built a robust pipeline of novel programs of both small molecules and biologics that target critical pathways underlying degenerative disease pathogenesis. With this investment, we are well-positioned to advance additional programs into the clinic and continue to move our lead program forward."
Dr. Albert Huang, Managing Director at Yunfeng Capital noted, "The fast-growing aging population leads to a high demand for the therapy of age-related degenerative diseases. Over the past 20 years, Dr. Xiaodong Wang has devoted himself to programmed cell death research, unearthing a novel mechanism of aging and degenerative disease, which has laid the foundation of scientific success for Sironax. We look forward to a lasting partnership with Dr. Wang, Dr. Ren and the entire Sironax team, and strongly believe the Company has the potential to develop effective solutions for age-related degenerative diseases."
A representative from Gaorong Capital commented: "The demands for clinical development and effective therapies are increasing along with the deepened understanding in degenerative diseases. As a fast-growing clinical-stage company, Sironax has established a robust pipeline targeting degenerative diseases, which has demonstrated strong safety profile and promising efficacy signals in early clinical trials. We are delighted to work with the Sironax team and support the advancement of therapies for degenerative diseases that could offer benefits to patients around the world and increase their quality of life."
Sironax is a clinical-stage biotechnology company dedicated to the discovery and global development of novel treatments for patients with age-related degenerative diseases. Since its founding in 2017, Sironax has built a diverse pipeline of multiple programs, focusing on key mechanisms underlying age-related degenerative diseases including regulated cell death, neuroprotective pathways and neuroinflammation. Sironax is currently conducting early clinical studies with SIR0365 and SIR2446, in addition to ongoing preclinical research. For more information, please visit www.sironax.com
About Gaorong Capital
Founded in 2014, Gaorong Capital is focused on early and growth-stage investments, with a specialty in new consumption, new technology and healthcare. We have 20 IPO portfolios and over 30 projects valued more than USD 1 billion, amongst which, many of them have advanced to be leaders in their perspective industries, including Pinduoduo, Huya, BOSS Zhipin, Roborock, Dingdong Fresh, etc. We continue to invest in the healthcare industry, and are committed to discovering and accompanying leading companies in the fields of digital health, medical services, drug discovery, medical instrumentation and testing.
About Yunfeng Capital
Founded in 2010, Yunfeng Capital is a leading private equity investment firm in China committed to fostering future-ready companies. With a common vision for building a better future, we work side by side with entrepreneurs to create long-term value. We have formed deep sector expertise and industry insights in our focused sectors, including Technology, Business Services, Green Energy, Digital Agriculture, Biotechnology and Consumption, and we are dedicated to promoting technological innovation and sustainable development to enable and to drive industry transformation and upgrade.
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