Hong Kong, Germantown, MD, and Suzhou, August 1, 2024 /PRNewswire/ -- Sirnaomics Ltd. (“Company”, stock code: 2257, together with its subsidiaries, collectively the “Group” or “Sirnaomics Pharmaceuticals”), an industry-leading biopharmaceutical company focused on exploring and developing RNAi therapies, today announced a partnership with Gore Range Capital (Dallas, Texas, USA) to establish a joint venture, Sagesse Bio, Inc. Introduce its novel RNAi treatment products to the field of aesthetic medicine.
Sagesse Bio, a company registered in Delaware, USA, has been able to accelerate clinical development of the company's innovative pharmaceutical products by optimally combining Shengnuo Pharmaceuticals' leadership in RNAi technology and product development with Gore Range Capital's world-leading expertise and financial resources in the skin health industry to cope with and layout the rapidly growing aesthetic medicine market. Sagesse Bio will rapidly develop lead compounds that Shengnuo Pharmaceuticals is already in the clinical phase (through IND). The drug is already in and completed phase II clinical trials for other indications. The initial indications of interest include body contouring and fat loss. Sagesse Bio's founders, board of directors, and the newly formed executive management team consists of a group of outstanding executives from the skin health industry, world-renowned dermatology and aesthetic medicine clinicians, and leading experts in the field of RNAi medicine. Sagesse Bio's strategic goal is to become a world-leading aesthetic medicine company with innovative technology and beauty products.
Frederick Beddingfield, M.D., Chairman of Sagesse Bio's board of directors, is an internationally renowned dermatologist and expert in the biopharmaceutical and beauty industry, and has led the development of leading global brands such as BOTOX, JUVEDERM, LATISSE, and KYBELLA. He has served as Chief Medical Officer of Allergan Medical and Kythera, and CEO of Sienna Bio and Kira Pharmaceuticals, and currently serves on the board of Cytrellis Biosystems. Dr. Beddingfield said, “I am very excited to help lead and build Sagesse Bio. “We have an experienced team, and based on finding that adipocytosis is well tolerated in human clinical studies, we have a unique opportunity to rapidly advance clinical trials of leading products we have received approval from the IND.”
Mr. Humberto Antunes, co-founder of Sagesse Bio, partner at Gore Range Capital, former Chairman and CEO of Galderma/Nestlé Skin Health, and an internationally renowned senior manager of the skin health industry, commented: “Sagesse Bio's strategic goal is to provide patients with innovative and life-changing treatments, which will initially focus on localized fat reshaping.”
“We are excited to establish this historic partnership: RNAi treatment candidates are entering the medical aesthetic product development field for body contouring,” commented Dr. Patrick Lu, founder and executive director, chairman, president and CEO of Shengnuo Pharmaceuticals. “The combined expertise and resources of Shengnuo Pharmaceuticals and Gore Range Capital lays a solid foundation for Sagesse Bio's huge growth potential to accelerate its product development.”
The board of directors of Shengnuo Pharmaceuticals, the company's management team, the board of directors and shareholders of Sagesse Bio have approved a series of relevant cooperation agreements. The management teams of the two companies have signed the relevant agreement and will approve it at the shareholders' meeting to be held recently by Shengnuo Pharmaceuticals. According to the cooperation agreement, Sagesse Bio will immediately begin clinical research on its main candidate product SGY-101 with scientific and technical support from Shengnuo Pharmaceutical, and obtain the transfer and authorization of intellectual property rights related to the product. In return, Shengnuo Pharmaceuticals will receive a milestone payment of up to $33 million, and after Sagesse Bio's shares or bonds with a minimum pre-financing valuation of 60 million dollars, the valuation will reach 36 million dollars of majority equity interest in Sagesse Bio. Gore Range Capital is responsible for initial funding and has formed a senior management team and advisory board. Additionally, with its domain expertise and extensive connections in the skin health industry, Gore Range Capital is able to provide a practical approach to Sagesse Bio's financing and business development.
regardingGore Range Capital (GRC)
Gore Range Capital (GRC) focuses on investments in skin health businesses. GRC's approach is simple: invest exclusively in familiar fields and tracks. Over the course of the team members' respective careers, the GRC team has built expertise and extensive networks in multiple areas of healthcare. GRC allows us to focus on the skin, the largest human organ that best expresses appearance and identity. GRC can combine the practical approach of operations-focused private equity investment with the early guidance needed for venture capital. GRC was founded in 2015 to partner with industry pioneers and work closely with portfolio companies to bring skin health innovations to market. To fulfill this mission, GRC uses its existing team of experienced healthcare investors, leaders, and practitioners to advise investors and entrepreneurs on strategic, financial, and scientific expertise. For more information, visit:.
regardingSirnaomics
siRNAomics is an RNA therapy biopharmaceutical company. The company's candidate products are in the clinical and pre-clinical stages, focusing on exploring and developing innovative drugs to treat indications with medical needs and huge market opportunities. siRNAomics is the first clinical-stage RNA therapy biopharmaceutical company with significant market positions in both Asia and the US. With its proprietary delivery technology: peptide nanoparticle delivery platform and GalNAc conjugate delivery platform, GalAhead, the Group has established a very rich pipeline of drug candidates. STP122G is the first drug candidate using the Group's GalAhead mxRNA technology and is currently in the first phase of development. STP125G is the second siRNA treatment based on Sirnaomics' patented galAhead mxRNA technology. It targets the apolipoprotein C3 mRNA and is used to treat cardiovascular diseases. STP237G is the first dual-targeted drug based on GalAhead mRNA technology and is currently in the advanced stages of preclinical evaluation. Through STP705 and STP707 clinical programs, the Group has also achieved many successes in oncology applications. With the establishment of Sirnaomics clinical production facilities, the Group is focusing on making the leap from a biotech company to a biopharmaceutical company. For more information about the company, please visit:.