According to information on the Hong Kong Stock Exchange website, Sirius Therapeutics submitted its prospectus on September 28, with Goldman Sachs, Haitong International, and HSBC serving as joint sponsors. Founded in 2021 by OrbiMed Entities and Creacion Ventures, Sirius Therapeutics is an innovative biotechnology company focused on developing next-generation nucleic acid innovative therapies in the cardiovascular disease field.

For this Hong Kong IPO fundraising, Sirius Therapeutics stated that proceeds will be used for the research and development of core product SRSD107, key product SRSD216, key product SRSD384, pipeline projects including extrahepatic projects R&D, as well as working capital and business development purposes.

Notably, in terms of performance, Sirius Therapeutics has not yet generated revenue or any cost of sales. In 2023 and 2024, the company's losses for the period were 309 million yuan and 342 million yuan respectively. In the first half of 2025, the company achieved a profit of 34.461 million yuan, compared to a loss of 159 million yuan in the same period last year. The main reason for turning profitable was that Sirius Therapeutics received non-recurring gains including fair value gains from CRISPR shares in its collaboration with CRISPR.

The prospectus shows that Sirius Therapeutics' other income and gains in the first half of 2025 amounted to 144 million yuan, compared to 4.51 million yuan in the same period last year. This was mainly attributable to an increase of 140.2 million yuan in fair value gains on financial assets measured at fair value through profit or loss, which was similarly due to fair value changes of CRISPR shares received when the company obtained upfront payments in its collaboration with CRISPR.

In April 2025, Sirius Therapeutics, Sirius Hong Kong, Sirius U.S., Sirius Australia, and Sirius Shanghai entered into a Series B2 share purchase agreement with investors, whereby investors subscribed for a total of 26,498,776 Series B2 preferred shares with a total consideration of approximately $47.5 million. Following this funding round, Sirius Therapeutics achieved a valuation of $253 million.

Regarding controlling shareholders, OrbiMed entities are the controlling shareholders of Sirius Therapeutics. OrbiMed Asia, OrbiMed U.S., and Creacion Ventures hold 20.23% each, while Dr. Curt William Bradshaw holds 1.46%. The prospectus shows that OrbiMed entities invest in the global healthcare industry, from seed-stage venture capital to large public companies. Ji Qunsheng, aged 62, holds 5.87% of Sirius Therapeutics' equity and serves as the company's executive director and chief executive officer. Tencent's Image Frame Investment holds 8.14%.

The prospectus disclosed the company's organizational structure chart.