Sirnaomics Seals Partnership Deal for Development of RNAi Therapeutics in China

GAITHERSBURG, Md., Dec. 2, 2010 /PRNewswire/ -- Sirnaomics, Inc. (www.sirnaomics.com) announced today that the company has cemented a partnership with a Chinese pharmaceutical company for development of its small interfering RNA (siRNA) therapeutic (STP705) for scarless wound healing. The partnership specifically covers the regulatory development and sale of STP705 in the Greater China market. Sirnaomics, Inc., a biopharmaceutical company founded in early 2007, is dedicated to developing RNA interference (RNAi) therapeutics for regenerative medicine, treatment of cancer and viral infections and others, using its proprietary multi-targeted siRNA design and three generations of nanoparticle-mediated siRNA delivery systems.

Sirnaomics has developed an enriched pipeline of siRNA therapeutic product candidates, among those STP705 represents the company's most advanced program. STP705 uses a polymeric nanoparticle to enhance topical delivery of siRNAs targeting both TGF beta 1 and Cox-2 genes to open wounds.  Due to its unique design, early reported effectiveness, and great market potential, STP705 has attracted substantial attention in the field of RNAi therapeutics (BioCentury, March 15, 2010; BioWorld Today, Vol. 21, No. 153; Gene Silencing News, June 23, 2010).  Sirnaomics has been pushing the development of STP705 in both the US and China – aiming at both the global and Chinese markets.  Currently there are no approved products on the market for accelerating scarless wound repair. Scarring can both reduce limb mobility and can have intense emotional aspects for patients. The market is suggested to grow from $4.6 billion to $11.6 billion in 2016. The current partnership between Sirnaomics and the Chinese pharmaceutical company provides financial resources and local capabilities allowing acceleration through the clinical study and regulatory process in China.  The licensing, funding and market sharing structures of the partnership limited within the Greater China Area (including Hong Kong, Macau and Taiwan) enable a win-win scenario for both parties.

"This partnership with a Chinese pharmaceutical company for co-development of our STP705 siRNA therapeutics in China represents a significant milestone for Sirnaomics' siRNA therapeutic programs," said President and CEO of the company, Dr. Patrick Y. Lu.  "The commitment of the Chinese pharmaceutical company for development of siRNA therapeutics also reflects the current trend in China's pharmaceutical industry, embracing innovation and novel therapeutics. The advancement of STP705 in China will assist our ongoing effort for development of this therapeutic for the US market," Dr. Lu further emphasized. "We envision that STP705 will be the first siRNA therapeutic going through a clinical study in China, and may have the potential to become the first approved siRNA therapeutic."

"The partnership not only provides us with all necessary funding but also complements our capacity in wound healing product development in China," commented Dr. David Evans, Executive Vice President for R&D of the company. "STP705 has been tested with multiple animal models for its therapeutic benefit in minimizing scar formation and speeding up skin wound closure with excellent results in both excisional wounds as well as burn wounds. The collaborative effort on IND enabling studies will allow rapid migration to the clinic."  Dr. Evans also indicated that sharing experiences in pharm/Tox analyses, CMC, assay development and clinical trial design in this China study will provide strong support to the company's ongoing effort for STP705 product development within the US.  

Sirnaomics, Inc. is a privately held Delaware corporation headquartered in Gaithersburg, Maryland, USA. Established in 2007 by a group of leading scientists in the field of RNAi technology, the company is pursuing the mission of advancing RNAi technology with novel targeted therapeutic development. In 2008, the company established its subsidiary in Suzhou, China to expand its R&D capacity and potential market. Members of the senior management team bring over 80 years of combined experience in the biopharmaceutical, financial and business management industries.  Supported with funding from angel investors, corporate partnerships, government grants and China-Singapore VC, Sirnaomics has developed a strong portfolio of intellectual property with an enriched product pipeline.  The therapeutic areas of interest include regenerative medicine, anti-infectives, oncology, and others.

CONTACT: George Ji of Sirnaomics, Inc., Tel: +1-301-740-1730,  Fax: +1-301-740-1731

SOURCE Sirnaomics, Inc.