Argo Biopharma announced the completion of an angel round financing of about 5 million US dollars, exclusively led by Apricot Capital. The company's siRNA drug is being developed, and the new RNAi technology platform is being established with the help of this funding.

RNAi is one of the most significant technological breakthroughs in biomedicine in the past 20 years. This discovery, which broke the target constraints of previous modalities, such as antibody and small molecules medication, was awarded a Nobel Prize in 2006. It potentially silences disease-related genes at the RNA level through sequence specific binding.

Argo Biopharma was founded by several returnee scientists with in-depth experience in siRNA drug development and extensive knowledge of the whole RNAi drug development process. The team will leverage the new generation of drug design programs and development ideas to expand the indications of RNAi therapy and fill the gap in this field in China.

Chen Haigang, a partner of Apricot Capital, said, "RNAi drugs are a new generation of pharmaceutical technology that have the potential to be very successful and have broken free from the limitations of traditional medicines. Apricot is really upbeat about the Argo Biopharma team and believes that the company can lead the industry based on its new generation siRNA drug technology."