Shengnuo Medicine announced a partnership with Gore Range Capital to establish Segesse Bio, bringing RNAi therapy to the field of cosmetic medicine.

News Announcement

Sirnaomics Ltd. (the "Company", stock code: 2257.HK, together with its subsidiaries, collectively referred as "Sirnaomics" or the "Group") is a leading industry-focused biopharmaceutical company dedicated to exploring and developing RNAi therapies. Today announced a partnership with Gore Range Capital (Dallas, Texas, USA) to establish a joint venture, Sagesse Bio, Inc., to bring its new RNAi therapeutic products to the field of aesthetic medicine.

Sagesse Bio, a company registered in Delaware, USA, is able to accelerate the clinical development of the Company's innovative drugs to address and deploy the rapidly growing aesthetic medicine market through its optimized combination of the Sanomics medical, scientific and technical support based on RNAi technology and product development, the world-leading professional knowledge and financial resources of Gore Range Capital in the skin health industry. Sagesse Bio will quickly advance the lead compound already in clinical stage (through IND) at Sanomics. The drug is in Phase II clinical trials for additional indications. The initially targeted indications include body shaping and fat reduction. The board and newly formed executive management team of Sagesse Bio are composed of a group of outstanding executives from the skin health industry, world-renowned dermatologists and aesthetic medical clinicians, and leading experts in the RNAi medical field. Sagesse Bio's strategic goal is to become a world-leading aesthetic medical company with innovative technology and aesthetic products.

Dr. Frederick Beddingfield, M.D., serves as Chairman of the Board of Sagesse Bio, and is an internationally renowned dermatologist and expert in the biopharmaceutical and aesthetic industries. He has led the development of global leading brands such as BOTOX, JUVEDERM, LATISSE, and KYBELLA. He has served as Chief Medical Officer for Allergan Medical and Kythera, as well as Chief Executive Officer for Sienna Bio and Kira Pharmaceuticals, and is currently on the board of Cytrellis Biosystems. Dr. Beddingfield said: "I am very happy to help lead and establish Sagesse Bio. We have an experienced team and the unique opportunity to rapidly advance our lead product, which has received IND approval, based on good tolerability in human clinical research on fat cell dissolution, to clinical trials."

Mr. Humberto Antunes, Co-Founder of Sagesse Bio, Partner at Gore Range Capital, former Chairman and CEO of Galderma/Nestle Skin Health, and a highly respected senior executive in the skin health industry, commented: "The strategic goal of Sagesse Bio is to provide innovative and life-changing therapies for patients, initially focusing on localized fat reshaping."

"We are pleased to establish this historic partnership: RNAi therapeutic candidates are entering the field of medical aesthetic product development, for body shaping," said Dr. Patrick Lu, Founder, Director, Chairman, President, and CEO of Sanomics. "The integrated expertise and resources of Sanomics and Gore Range Capital lay a solid foundation for the tremendous growth potential of Sagesse Bio, thus accelerating its product development speed."

The board and company management team of Sanomics, Sagesse Bio's board, and shareholders have approved a series of related cooperation agreements. The management teams of both companies have signed the relevant agreements, which will be authorized and approved at Sanomics' upcoming shareholders' meeting. According to the cooperation agreement, Sagesse Bio will immediately commence clinical research with the main candidate product SGY-101, and obtain the transfer and authorization of the intellectual property related to the product with the scientific and technical support of Sanomics. As a result, Sanomics will receive milestone payments of up to 33 million US dollars, as well as an equity stake in Sagesse Bio valued at a minimum of 60 million before financing or bonds worth at least 60 million, after which the valuation of Sagesse Bio will reach 36 million, with a majority stake. Gore Range Capital is responsible for initial funding and has assembled a senior management team and advisory committee. In addition, with its established professional knowledge and extensive connections in the skin health industry, Gore Range Capital can provide practical approaches for the financing and business development of Sagesse Bio.

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GoreRange Capital（GRC）

Gore Range Capital（GRC）专注于皮肤健康业务的投资。GRC的方法很简单：专门投资于所熟悉的领域和赛道。在团队成员各自的职业生涯中，GRC团队在医疗保健的多个领域建立了专业知识和广泛的网络。通过GRC可以专注於人类最大的且最能表现外貌和身份的器官——皮肤。GRC可以通过运营為重点的私募股权投资的实践方法与风险投资所需的早期指导相结合。GRC成立於2015年，旨在与行业先驱结成伙伴，与投资组合公司密切合作，将皮肤健康创新推向市场。為了完成这一使命，GRC利用已有的经验丰富的医疗保健投资者、领导者和从业者团队，為投资者和创业者提供战略、财务和科学专业知识的咨询。如需了解更多资讯，请访问：www.gorerangecapital.com。

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