Suzhou Ribo Life Science

What Suzhou Ribo Life Science does

Suzhou Ribo Life Science (HKEX: 06938.HK), founded in 2007 in Kunshan, China, is a clinical-stage biopharmaceutical company focused on developing nucleic acid drugs based on RNA interference (RNAi) technology. The company has built a vertically integrated siRNA drug R&D platform covering drug delivery, chemical modification, multi-target drug development, model-informed drug development (MIDD), and oligonucleotide manufacturing, supported by 473 patents and patent applications worldwide and proprietary platforms including RiboGalSTAR (liver-targeting GalNAc delivery), RiboPepSTAR (extrahepatic delivery to kidney, heart, adipose, muscle, CNS), RiboOncoSTAR (tumor-targeting), and the RSC iterative chemical modification system. Seven programs are in clinical development across cardiovascular, metabolic, liver, and renal indications, with RBD4059 (vortosiran), a first-in-class FXI-targeting siRNA for thrombotic diseases, as the most advanced asset.

Ribo operates a B2B platform-licensing business model, generating revenue primarily through upfront fees, development and regulatory milestones, and tiered royalties paid by global pharmaceutical partners who fund clinical development, regulatory filings, and commercialization. Key disclosed partnerships include Madrigal Pharmaceuticals (exclusive worldwide license for six MASH siRNA programs, $60M upfront plus up to $4.4B in milestones plus royalties), Boehringer Ingelheim (multi-target NASH/MASH collaboration worth over $2B in total deal value), and Qilu Pharmaceutical (exclusive Greater China rights to RBD7022/PCSK9 siRNA for RMB 700M+ plus royalties). The company executes a 'China discovery and development + European clinical development and registration' strategy, leveraging its wholly-owned Swedish subsidiary Ribocure Pharmaceuticals AB (Gothenburg, established February 2022) as the global clinical and business development hub, with EU GMP-certified manufacturing at Kunshan. Reported revenue was RMB 143 million in 2024 and RMB 104 million in H1 2025, with the company pre-profitable as a clinical-stage biotech.

Name

Suzhou Ribo Life Science

Legal name

苏州瑞博生物技术股份有限公司

Website

https://ribolia.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Short description

Suzhou Ribo Life Science is a China-based, HKEX-listed clinical-stage biopharma (06938.HK) developing siRNA therapeutics via its proprietary RNAi delivery platforms. It serves global pharmaceutical partners through licensing and milestone-based deals across cardiovascular, metabolic, liver, and renal indications.

Ownership category

akta.pro rank

Product category

siRNA Therapeutics

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714), Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412), Scientific Research and Development Services (5417)

SIC

Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836), Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

RNA Therapeutics Platforms & Design (sequence design, target ID/validation, AI/bioinformatics) (HLAAADAG)

akta.pro secondary industries

RNA Chemistry & Oligonucleotide Engineering (backbones, modifications, stereochemistry) (HLAAADAE), RNA Therapeutics Clinical Development (trial design, endpoints, patient stratification) (HLAAADAH), RNA Therapeutics Regulatory, Quality & Pharmacovigilance (GxP, comparability, post-market) (HLAAADAJ), mRNA & Nucleic Acid Manufacturing Services (mRNA/saRNA/Plasmid DNA) (HLAGAGAC)

Keywords

• SiRNA therapeutics
• RNAi drug development
• Oligonucleotide therapeutics
• Nucleic acid drugs
• Gene silencing therapeutics

Headquarters

HQ city

Kunshan

HQ country

China

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Licensing and milestone payments from pharmaceutical partnerships: Ribo generates revenue through licensing deals where pharmaceutical partners pay upfront fees, clinical/regulatory milestones, and sales royalties in exchange for development and commercialization rights. Key deals include Madrigal ($60M upfront + up to $4.4B milestones), Boehringer Ingelheim (over $2B), and Qilu Pharmaceutical (over RMB 700M).
2. Product revenue (clinical stage): Ribo reported revenue of 143 million yuan in 2024 and 104 million yuan in H1 2025, with losses narrowing year-over-year, reflecting growing partnerships. The company is pre-profitable as a clinical-stage biotech.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Suzhou Ribo Life Science is a clinical-stage biopharmaceutical company that discovers and develops small interfering RNA (siRNA) therapeutics based on RNA interference (RNAi) technology for cardiovascular, metabolic, liver, renal, and rare diseases. The company operates a vertically integrated oligonucleotide drug development platform covering discovery, chemical modification, multi-target design, delivery, model-informed drug development, and GMP manufacturing, and licenses its drug candidates and platform technologies to global pharmaceutical partners in exchange for upfront fees, milestone payments, and royalties. Headquartered in Kunshan, China, with an international R&D center in Sweden, the company had 7–8 clinical-stage assets as of late 2025.

Product overview

Suzhou Ribo Life Science is a global pioneer in RNAi-based oligonucleotide therapeutics with vertically integrated platforms. The company operates through multiple proprietary technology platforms including RiboGalSTARTM (liver-targeting delivery), RiboOncoSTARTM (tumor-targeting), RiboPepSTARTM (extrahepatic organ targeting), RSC chemical modification, multi-target siRNA development, and MIDD (model-informed drug development). The clinical pipeline spans cardiovascular/metabolic (RBD4059/vortosiran, RBD1119, RBD7022, RBD5044), liver diseases (RBD1016), and kidney diseases (RBD7007, RBD2080). Key products leverage GalNAc-conjugated siRNA technology for precise gene silencing, with RBD4059 being the world's first and most advanced FXI-targeting siRNA drug. The company executes a 'China discovery + European clinical development' strategy through its Swedish subsidiary Ribocure Pharmaceuticals.

Differentiator

Problem solved

Functional benefit

Brands

• RiboGalSTARTM: Proprietary liver-targeting siRNA delivery technology platform that enables precise and effective delivery to hepatic tissues. Seven clinical programs have been advanced using this platform.
• RiboOncoSTARTM
• RiboPepSTARTM
• RSC Platform

Products and services

• RBD4059 (vortosiran) Global first-in-class GalNAc-siRNA targeting FXI for thrombotic diseases. First and most advanced siRNA drug targeting FXI globally, offering extended dosing intervals and reduced bleeding risk versus standard anticoagulants while maintaining strong efficacy. Indicated for thrombotic diseases including coronary artery disease, venous thromboembolism, and atrial fibrillation. Currently in Phase II clinical development globally.
• RBD1016 First GalNAc-siRNA targeting HBV-X gene for chronic hepatitis B and chronic hepatitis D (HDV). Lead siRNA candidate for CHB functional cure and CHD treatment. Received EMA Orphan Drug Designation for HDV infection. Phase II trials ongoing internationally with six-month sustained HBsAg reduction demonstrated in clinical studies.
• RBD5044 Second globally-developed GalNAc-siRNA targeting ApoC3 for hypertriglyceridemia. Supports quarterly or bi-annual dosing with sustained triglyceride control and improved patient adherence versus current therapies. Phase I in Australia demonstrated favorable safety profile with extended dosing potential.
• RBD7022 GalNAc-siRNA targeting PCSK9 for hypercholesterolemia/hyperlipidemia. Licensed to Qilu Pharmaceutical for the Greater China region (Mainland China, Hong Kong, Macau). Phase I completed in China, Phase II enrollment completed (204 hypercholesterolemia patients), and Phase III trial being initiated by Qilu in China.
• RBD7007 GalNAc-siRNA targeting complement C5 for complement-mediated kidney diseases and autoimmune diseases. Demonstrated robust pharmacological effects in cynomolgus monkeys. EU Phase I clinical trial initiated in Sweden.
• RBD1119 siRNA therapeutic targeting coronary artery disease as part of the company's globally leading anticoagulant/antithrombotic pipeline. Designed to address residual thrombotic risk in stable CAD patients with a favorable bleeding risk profile. Phase 2 CTA submitted to EMA.
• RBD2080 siRNA therapeutic targeting autoimmune diseases. Received Australian Therapeutic Goods Administration (TGA) approval in February 2025 to initiate Phase I clinical trial.
• RBD8088 siRNA therapeutic for glioma leveraging the proprietary RiboOncoSTAR tumor-targeting delivery platform. First-in-class oncology candidate targeting central nervous system tumors.

Quantifiable outcome

• RBD4059 (FXI siRNA): Phase I completed in Australia with good safety, potent and long-acting effects; Phase IIa enrollment completed in EU
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature7 records

Partnerships

Six partnerships are on record, tiered strategic, core and minor.

• Insilico Medicine (英矽智能)strategicTechnology or Integration · 12 May 2026Strategic cooperation to jointly advance AI-powered siRNA drug discovery and development. Combines Ribo's siRNA technology platform with Insilico's end-to-end Pharma.AI platform. Focus areas include target discovery, molecular design, optimization, and clinical translation. Builds on prior autonomous high-throughput screening collaboration. Insilico (03696.HK) listed on HKEX December 2025.
• Madrigal PharmaceuticalscoreStrategic or Co-development Partner · 11 February 2026Suzhou Ribo Life Science and Ribocure Pharmaceuticals granted Madrigal exclusive worldwide licensing rights to six preclinical siRNA programs targeting MASH. Ribo receives $60 million upfront payment with potential cumulative milestone payments of up to $4.4 billion plus royalties on net sales. Madrigal, which markets the first FDA/EU-approved MASH drug Rezdiffra (resmetirom), gains access to Ribo's liver-targeting GalSTARTM platform for combination therapies.
• Boehringer IngelheimcoreStrategic or Co-development Partner · 3 January 2024Multi-target collaboration to discover and develop siRNA-based therapies for NASH/MASH using Ribo's liver-targeting RNAi platform. Total deal value exceeds $2 billion including upfront, milestones, and tiered royalties. The collaboration achieved its first milestone in January 2025, second milestones with Pheiron in March 2025, and a third key milestone in May 2026. Boehringer Ingelheim continues advancing the program toward clinical development.
• Qilu Pharmaceutical (齐鲁制药)coreStrategic or Co-development Partner · 15 December 2023Exclusive license agreement for RBD7022 (anti-PCSK9 siRNA) in Greater China (Mainland China, Hong Kong, Macau). Qilu receives rights to develop, manufacture, and commercialize RBD7022. Ribo receives over RMB 700 million in upfront and milestone payments plus tiered royalties. Phase III clinical trial initiated by Qilu in China.
• Ionis PharmaceuticalsminorStrategic or Co-development Partner · 1 April 2017Strategic collaboration with global oligonucleotide pharmaceutical leader Ionis Pharmaceuticals USA for oligonucleotide drug development.
• Quark PharmaceuticalsminorStrategic or Co-development Partner · 1 September 2012Strategic cooperation established in 2012 with joint venture formation. Ribo-Quark joint venture (RiboQuark) developed QPI-1007, China's first siRNA drug to enter clinical trials. The JV company secured $7M first-round financing in 2013. This collaboration produced China's first approved siRNA clinical trial (QPI-1007, 2015).

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Alnylam Pharmaceuticals: Global leader in RNAi therapeutics with multiple approved siRNA products (Onpattro, Givlaari, Oxlumo, Amvuttra, Leqvio via Novartis). Operates the established GalNAc-conjugated siRNA platform that Ribo's RiboGalSTAR directly competes against for liver-targeted indications.
• Arrowhead Pharmaceuticals: Clinical-stage RNAi therapeutics company with proprietary TRiM platform enabling tissue-specific siRNA delivery including extrahepatic targets. Competes with Ribo in both liver-targeted (Hepatitis B, MASH) and extrahepatic indications through a similar out-licensing business model.
• Silence Therapeutics: Clinical-stage siRNA therapeutics company with proprietary GalNAc-conjugated siRNA platform (SLN360 for cardiovascular) and mRNAi GOLD delivery technology. Competes directly with Ribo in cardiovascular siRNA space and pursues similar out-licensing and co-development strategies.
• Wave Life Sciences: Clinical-stage genetic medicines company developing stereopure oligonucleotide therapeutics including siRNA. Pursues tissue-selective delivery to extrahepatic targets including CNS and muscle, overlapping with Ribo's RiboPepSTAR ambitions in extrahepatic delivery.
• Ionis Pharmaceuticals: Established oligonucleotide therapeutics leader with multiple approved antisense oligonucleotide (ASO) products (Spinraza, Tegsedi, Waylivra). Strategic partner of Ribo since 2017, and a key comparable for nucleic acid-based drug development platforms and BD capabilities.

Emerging players

• Sirnaomics: Clinical-stage biopharmaceutical company developing RNAi-based therapeutics with proprietary PNP and GalNAc delivery platforms. Based in both US and China, addresses fibrotic diseases and oncology indications with siRNA and mRNA approaches, partially overlapping with Ribo's pipeline.
• Arcturus Therapeutics: Clinical-stage RNA medicines company developing siRNA, mRNA, and LUNAR delivery technologies for infectious diseases, liver indications, and rare diseases. Comparable as an emerging nucleic acid therapeutics platform pursuing similar target indications.

Broad incumbents

• Novartis: Global pharmaceutical company commercializing Leqvio (inclisiran), the leading approved siRNA for cardiovascular disease via partnership with Alnylam. Novartis represents the type of MNC partner Ribo pursues for out-licensing deals and a comparable player in the broader cardiovascular and liver disease therapeutic areas Ribo addresses.
• Dicerna Pharmaceuticals (Novo Nordisk): siRNA therapeutics company acquired by Novo Nordisk in 2021, now operating as part of Novo Nordisk. Operates GalXC RNAi technology platform for liver-targeted therapies; competes with Ribo's RiboGalSTAR in cardiometabolic and rare disease indications and benefits from Novo Nordisk's extensive metabolic disease infrastructure.

Regional players

• BeiGene: Major Chinese biopharmaceutical company with global oncology focus, listed on HKEX. Comparable as a major Chinese biotech that has successfully completed HKEX listing and built global clinical and commercial infrastructure, providing a regional benchmark for Ribo's growth trajectory.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/suzhou-ribo-life-science-co-ltd

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds6 records

Investors23 records

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M&A

Investments

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Frequently asked questions about Suzhou Ribo Life Science