Sirnaomics and Gore Range Capital Form JV Sagesse Bio to Advance RNAi Aesthetic Therapies

HONG KONG, GERMANTOWN, Md. and SUZHOU, China, July 31, 2024 -- Sirnaomics Ltd. (the "Company", Stock Code: 2257.HK, together with its subsidiaries, the "Group" or "Sirnaomics"), a prominent biopharmaceutical company specializing in advanced RNAi therapeutics, has announced a strategic partnership with Gore Range Capital LLC (Dallas, TX, USA). This agreement aims to create a joint venture, Sagesse Bio, Inc., to further develop RNAi therapeutic products within the aesthetic medicine sector.

Sagesse Bio, Inc., a Delaware-based corporation, will leverage Sirnaomics' expertise in RNAi technology and product development, particularly for localized fat reduction, in conjunction with Gore Range Capital’s extensive skin health industry knowledge and financial backing. This collaboration is set to fast-track the clinical development of Sirnaomics' innovative products targeting the burgeoning aesthetic medicine market. Sagesse Bio will prioritize advancing Sirnaomics’ lead compound, which is already IND-enabled and undergoing Phase II clinical trials for various indications, focusing initially on body contouring and fat reduction.

The leadership team at Sagesse Bio comprises seasoned executives from the skin health industry, distinguished dermatologists, and experts in RNAi medicine. Their collective goal is to position Sagesse Bio as a leading global company in aesthetic medicine, underpinned by cutting-edge technologies and products.

Dr. Frederick Beddingfield, an internationally recognized dermatologist and expert in biopharma and aesthetics, will chair Sagesse Bio's board of directors. Dr. Beddingfield has a robust track record, having been pivotal in developing renowned brands like BOTOX®, JUVEDERM®, LATISSE®, and KYBELLA®. He has previously served as the Chief Medical Officer at Allergan Medical and Kythera and as CEO at Sienna Bio and Kira Pharmaceuticals. He currently sits on the board of Cytrellis Biosystems. Expressing his enthusiasm, Dr. Beddingfield stated, "I am incredibly excited to lead and build Sagesse Bio. With our exceptional team and the recent findings of adipocytolysis showing good tolerability in human clinical studies, we are well-positioned to swiftly advance our IND-approved lead product."

Humberto Antunes, a co-founder of Sagesse Bio and partner at Gore Range Capital, as well as the former Chairman and CEO of Galderma/Nestlé Skin Health, also commented on the venture’s strategic aims. He outlined the company’s primary goal, which is to bring innovative and transformative therapies to patients, beginning with a focus on localized fat destruction.

Dr. Patrick Lu, founder, Chairman of the board, executive director, President, and CEO of Sirnaomics, expressed his excitement about the partnership. He highlighted the significant growth potential of Sagesse Bio, attributing it to the combined expertise and resources from Sirnaomics and Gore Range Capital, poised to enhance product development speed significantly.

The boards of directors of both companies have approved a suite of agreements related to the partnership, pending shareholder approval at Sirnaomics' upcoming general meeting. The partnership will see Sagesse Bio undertake immediate clinical evaluations of its leading product candidate, SGY-101, backed by scientific and technical support from Sirnaomics. This arrangement includes assigning and licensing relevant intellectual property rights for the licensed product to Sagesse Bio. In return, Sirnaomics will receive up to $33 million in milestone payments and a majority equity stake in Sagesse Bio, valued at approximately $36 million, contingent on future equity or debt financing at a minimum pre-financing valuation of $60 million. Gore Range Capital will provide initial funding and recruit the executive management team and advisory board, leveraging its industry expertise and networks to address Sagesse Bio's business development and fundraising challenges.

Gore Range Capital, established in 2015, is focused on investments in skin health businesses. It combines operationally focused private equity with early-stage venture capital guidance, working closely with portfolio companies and industry leaders to bring skin health innovations to market. The firm leverages a team of experienced healthcare investors, leaders, and practitioners to provide strategic, financial, and scientific expertise.

Sirnaomics, an RNA therapeutics biopharmaceutical company, focuses on discovering and developing innovative drugs for unmet medical needs and large market opportunities. It is the first clinical-stage RNA therapeutics company with a strong presence in both Asia and the United States, utilizing proprietary delivery technologies and an enriched drug candidate pipeline.

How to obtain the latest research advancements in the field of biopharmaceuticals?

In the Synapse database, you can keep abreast of the latest research and development advances in drugs, targets, indications, organizations, etc., anywhere and anytime, on a daily or weekly basis. Click on the image below to embark on a brand new journey of drug discovery!