The subsidy comes under HKSTP's Clinical Translational Catalyst ("CTC") programme dedicated to catalysing clinical translation to bring innovative, life-changing therapies and technologies to patients advancing innovative therapies and technologies that can potentially improve patients' lives. The programme provides technical and financial supports to biomedical companies that are developing highly promising pre-clinical or clinical-stage projects, helping products under development to obtain regulatory approvals, conduct clinical trials and achieve commercialisation, turning cutting-edge research outcomes into tangible medical advancements for the benefit of patients.

Sirnaomics' success in obtaining funding testifies to the quality of its product candidate. It is proof of the evaluation committee recognizing the potential of its product candidate as well as its capability to make a significant impact in the industry, pointing to prospective new treatments that may improve patient outcomes and benefit society at large. According to the agreement, HKSTP will provide a total of HK$8 million in funding to Sirnaomics for the clinical study of STP122G, an anticoagulant therapeutic.

Sirnaomics submitted a U.S. IND for STP122G in March 2023 and launched in April 2023 Phase I clinical trial of STP122G based on its GalNAc-driven Factor XI RNAi therapeutic Program. This Factor XI program is applicable across a broad range of disease indications as an anticoagulant therapeutic, for potential prevention and treatment of stroke after atrial fibrillation, cancer patients after immunotherapy, and improving total knee replacement recovery, etc. The study marks the first time Sirnaomics is utilizing its proprietary GalNAc RNAi platform technology, GalAhead™, in one of its siRNA-based candidates and conducting a trial for patients with high unmet need in anticoagulation disorders.

Dr. Patrick Lu, Founder, Chairman of the Board, Executive Director, President and Chief Executive Officer of Sirnaomics said, "We are thrilled and honored to receive funding from HKSTP to support our ongoing clinical R&D efforts. It will allow us to accelerate development of our promising product candidate, STP122G, which can potentially transform patient care related to the anticoagulation therapeutics. As a leading biopharmaceutical company in RNA medicine, we are committed to driving innovation in the industry and bringing new therapies to market to address unmet medical needs. We will continue our work to improve patient outcomes, advance the field of biopharmaceuticals and create long-term value for stakeholders."