Original Post: Washington Business Journal
By: Katishi Maake, Digital Producer
Sirnaomics Inc. has taken in yet another $11 million in investments, closing a Series C funding round that totaled $47 million.
The Gaithersburg biopharmaceutical company kicked off the round last year with $25 million in Series C1 financing — one of the biggest venture deals of the year last year in a generous overall haul for Maryland biotech companies. That was followed by an $11 million raise as part of a Series C2 round in January.
The latest $11 million, also part of the C2 round, was led by CR-CP Life Sciences Fund, a Hong Kong joint venture established by China Resources Group and Charoen Pokhand Group, two Asian conglomerates.
Additional investors for the C2 round include Shanghai-based Rich Yield Capital; Rolling Boulder Investment from Shenzhen, China; and Legend Sky Investment.
In three venture rounds, the company has raised a total of $58 million in financing and obtained government funding and corporate partnerships valued at another $10 million, Chief Medical Officer Michael Molyneaux said Friday in an email to the Washington Business Journal. The company, he said, is now valued at more than $200 million.
Sirnaomics develops anti-fibrosis and anticancer therapeutics through RNA interference technology, which shuts down disease-causing genes.
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