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Sirnaomics Seals a Second Partnership Deal with a Chinese Pharmaceutical Company for Developing siRNA Therapeutics
Date:6/23/2011

going IND enabling studies for the STP601 program. Guangdong Zhongsheng Pharmaceutical Co. Ltd. is committing RMB 63 million yuan (US$9.75 million), including upfront and milestone payments to the partnership in addition to a royalty sharing and market territory sharing arrangement with Sirnaomics. This partnership signifies another major step in the siRNA therapeutic field specifically in the Greater China region. The two partnerships Sirnaomics has established not only enable the company to accelerate its development of siRNA therapeutic programs in China and Asia, but should also encourage further investments in the field of RNAi technologies in China and throughout the world.

"The partnerships with two public pharmaceutical companies in China mark a major milestone for Sirnaomics' endeavour on development and commercialization of siRNA therapeutics," said President and CEO of the company, Dr. Patrick Y. Lu. "While the Chinese pharmaceutical industry embraces our novel and innovative therapeutic programs, we receive financial support and expanded capacity as well to develop and commercialize our pharmaceutical products in China." Dr. Lu further commented, "We are excited to be able to pursue two of our siRNA therapeutic products in clinical studies in China."

"Sirnaomics' success in building partnerships with publicly traded pharmaceutical companies in China reflects both a willingness to embrace advanced technologies and the financial strength of those Chinese pharmaceutical companies," said Dr. David Evans, Executive Vice President for R&D of Sirnaomics. "This partnership will help accelerate our effort to develop the siRNA therapeutic programs in the US and other markets." Dr. Evans also indicated that the experience in preclinical safety assessment, CMC/Process Development, formulation and assay development, as well as the clinical trial designs gained during the studies in China will provide strong support to the company's ongoing effort f
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SOURCE Sirnaomics, Inc.
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