AsianScientist (Jan. 13, 2014) – Kunshan RiboQuark Pharmaceutical Technology Co., Ltd., a Chinese-foreign equity joint venture and clinical stage pharmaceutical company, established by Suzhou Ribo Life Science Co., Ltd. and Quark Pharmaceuticals Inc., has raised nearly RMB 45 million (US$7.4 million) in a series A financing round to accelerate the clinical development of RiboQuark’s lead product, QPI-1007.
The ocular neuroprotectant would be sold in China and several other countries.
QPI-1007 is entering global Phase III studies for the treatment of non-arteritic anterior ischemic optic neuropathy (NAION) and a pilot Phase II study for the treatment of acute angle closure glaucoma. NAION is an incurable orphan disease, which is an entirely unmet medical need. The only known treatment for angle closure glaucoma, which is a major cause of blindness worldwide, is surgical intervention.
In addition to the further clinical development of QPI-1007, this capital will enable RiboQuark to continue developing its broad pipeline of siRNA-based preclinical drug candidates, contributed by its two founders, for a wide range of diseases – including cancer, hepatitis and lung injury. RiboQuark is also developing for the Chinese market a siRNA-based cosmetic product for the prevention of hair loss as a result of chemotherapy and radiation.
“The successful completion of this financing round is a strong demonstration of the confidence of our investors in the future of RNAi therapeutics and the ability of RiboQuark to lead this emerging drug class development in China and Asia. RNAi technologies have progressed immensely in the last few years, creating a huge knowledge base that, I believe, will continue to grow. This should allow the siRNA drugs to fulfill the promise to enable the treatment of a vast panel of diseases,” said Dr. Liang Zicai, chairman of Suzhou Ribo Life Science Co., Ltd.
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Source: RiboQuark.
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