Sirnaomics Partners with Gore Range Capital to Establish Sagesse Bio, Advancing RNAi Therapeutics in Aesthetic Medicine
Thursday, August 01, 2024
Sirnaomics Ltd. (Stock Code: 2257.HK), a prominent biopharmaceutical company specializing in RNAi therapeutics, has announced a new collaboration with Gore Range Capital LLC (Dallas, TX, USA). This partnership will establish a joint venture named Sagesse Bio, Inc., which will focus on advancing RNAi-based products in the aesthetic medicine sector.
Sagesse Bio, incorporated in Delaware, will combine Sirnaomics' expertise in RNAi technology and product development with Gore Range Capital's extensive knowledge and resources in the skin health industry. The goal is to expedite the clinical development of innovative aesthetic treatments. The initial focus will be on body contouring and fat reduction, utilizing Sirnaomics' leading compound currently in Phase II trials for other uses.
The leadership team of Sagesse Bio includes distinguished figures from the skin health and aesthetic medicine fields. Frederick Beddingfield, MD, PhD, will serve as Chairperson. Dr. Beddingfield is a well-known dermatologist with a track record of developing major brands such as BOTOX® and JUVEDERM®. Humberto Antunes, co-founder of Sagesse Bio and partner at Gore Range Capital, is a former Chairman and CEO of Galderma/Nestlé Skin Health, and will also play a key role. He highlighted the company's commitment to innovative therapies for targeted fat destruction.
Sirnaomics, expressed excitement about the collaboration, noting that the combined expertise and resources will significantly accelerate product development. The partnership involves agreements that are pending shareholder approval. Sagesse Bio will commence clinical evaluations for its primary product candidate, SGY-101, with scientific and technical support from Sirnaomics. In return, Sirnaomics will receive milestone payments up to $33 million and hold a majority equity stake valued around $36 million, based on future financing and a minimum valuation of $60 million for Sagesse Bio. Gore Range Capital will provide initial funding and help build the executive management team and advisory board.
Gore Range Capital specializes in investments in the skin health sector, blending hands-on operational expertise with venture capital insights. Established in 2015, Gore Range leverages its industry knowledge and networks to bring innovations in skin health to market. For more information, visit www.gorerangecapital.com.
Source: prnewswire.com
