来源：观点地产网 观点网讯：9月28日，据港交所文件显示，Sirius Therapeutics-B（ 靖因药业）已向港交所提交上市申请 书，联席保荐人高盛、海通国际、HSBC。 招股书披露，该公司是一家全球临床阶段生物技术公司，致力于充分发挥siRNA疗法的临床及商业价 值。其以三大潜在重磅产品管线组合、专有siRNA技术平台及全球合作网络为战略基石，旨在通过开发 针对全球巨大未满足医疗需求的同类首创与同类最优siRNA疗法，革新慢性疾病的现行治疗标准。 免责声明：本文内容与数据由观点根据公开信息整理，不构成投资建议，使用前请核实。 ...

Core Insights - The Shanghai Stock Exchange Sci-Tech Innovation Board Biopharmaceutical Index (000683) has shown a strong increase of 1.32% as of September 5, 2025, with notable gains in constituent stocks such as Zai Lab (688266) up 5.31%, Junshi Biosciences (688180) up 3.89%, and Huatai Medical (688617) up 3.85% [1] - Novartis continues to invest in siRNA technology, recently entering into a significant business development deal with BGI Genomics, involving an upfront payment of $160 million and a total potential milestone value of $5.2 billion [1] - According to Dongfang Securities, the performance of innovative drugs and the industry chain is strong, driven by the commercialization of domestic innovative products and the potential for international expansion [1] Industry Overview - The Sci-Tech Innovation Board Biopharmaceutical Index comprises 50 large-cap companies in the biopharmaceutical, biomedical engineering, biomedicine, and other related sectors, reflecting the overall performance of representative biopharmaceutical companies listed on the Sci-Tech Innovation Board [2] - As of August 29, 2025, the top ten weighted stocks in the index account for 50.27% of the total index, including companies like United Imaging Healthcare (688271) and BeiGene (688235) [2] - The Sci-Tech Biopharmaceutical ETF (588250) closely tracks the performance of the index, providing investors with exposure to the biopharmaceutical sector [2]

Group 1: Company Overview - Suzhou Ribo BioTechnology Co., Ltd. (Ribo Bio) submitted its main board listing application to the Hong Kong Stock Exchange on April 25, marking a significant capital move after the termination of its Sci-Tech Innovation Board application in 2021 [1] - Founded in 2007, Ribo Bio is a global leader in the research and development of small nucleic acid drugs, particularly focusing on siRNA therapies, aiming to innovate treatment methods for cardiovascular, metabolic, kidney, and liver diseases [1][2] - The company has established a self-developed technology platform that covers all key aspects of small nucleic acid drug development, from drug delivery to chemical modification and multi-target drug design, supporting the entire lifecycle from early research to commercialization [1] Group 2: Market and Industry Trends - The small nucleic acid drug industry is rapidly evolving, with increasing competition from multinational companies and leading biotech firms developing similar or competing siRNA drugs [3] - The global small nucleic acid drug market is projected to grow from $2.7 billion in 2019 to $4.6 billion in 2023, with a compound annual growth rate (CAGR) of 14.3%, and is expected to reach $46.7 billion by 2033 at a CAGR of 26.1% [4] Group 3: Product Pipeline and Development - Ribo Bio has one of the largest siRNA drug pipelines globally, with six self-developed drug assets in clinical trials targeting seven indications related to cardiovascular, metabolic, kidney, and liver diseases, four of which are in Phase 2 trials [4] - The core product RBD4059, targeting FXI, is the world's first siRNA drug for treating thrombotic diseases, which is a leading cause of death globally, claiming over 10 million lives annually [6] - Ribo Bio is also advancing two key products, RBD5044 and RBD1016, which are significant in the treatment of lipid metabolism disorders and chronic hepatitis B, respectively [6] Group 4: Financial Performance - As of the end of 2023 and 2024, Ribo Bio reported net losses of RMB 437.3 million and RMB 281.5 million, respectively, with no revenue from commercial product sales [7][8] - The company anticipates substantial R&D expenditures as it progresses its clinical development plans, with R&D costs constituting 79.5% and 75.0% of total operating expenses for 2023 and 2024, respectively [9][10]