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Biotech firm joins growing health cluster

16 June 2022
Ribocure Pharmaceutical's Li-Ming Gan and GoCo's Jonas Obert. Photo: GoCo Health Innovation City
Yet another innovative company is set to join GoCo Health Innovation City, an expanding hub for life science in Gothenburg. Ribocure Pharmaceuticals has announced it will open a clinical trial unit there, where it aims to put Sweden in the spotlight within oligonucleotid therapy.

The company, which is a subsidiary of Suzhou Ribo Life Science, develops precision medicine through small interfering RNA (siRNA). In brief, it is about being able to turn off specific disease-causing genes and thereby cure both more uncommon genetic diseases as well as common diseases such as high blood pressure and high blood fats.

“Our ambition is to put Sweden in the spotlight within oligonucleotid therapy and to conduct global clinical development here in Mölndal [Gothenburg],” said Li-Ming Gan, CEO, co-founder and Chief Medical Officer at Ribocure Pharmaceuticals AB in a press release. 

At GoCo Clinic, an 8,000 sqm centre for care and research which is expected to be completed in the spring of 2023, the company will conduct innovative proof of principle phase 1B and 2 studies and at the same time drive global product and business development. 

“So far, we have succeeded to reduce the development time from 8 years to less than 2 years in terms of going from idea to patient. I only see opportunities with the establishment at GoCo Clinic, from here we can become one of the leading companies in Europe,” said Li-Ming Gan. 

According to GoCo, the establishment is strategically important for the area as a whole and is welcomed by business developer Jonas Obert.

“Ribocure Pharmaceuticals is an incredibly exciting company that will bring a lot of value to the area and not least - to the outside world in general. The basic idea for GoCo Health Innovation City is based on finding new paths to innovation and companies like Ribocure Pharmaceuticals can make this possible by bringing both knowledge and ambitions creating synergy effects throughout our community.”

GoCo Health Innovation City is fast becoming one of Sweden’s most dense areas for life science know-how. Approximately SEK 4 billion is being invested in the project with 200,000 sqm of space being developed directly beside AstraZeneca's R&D site in Gothenburg. When complete, the area will gather around 7,000 employees and 350 businesses. 

The development is moving forward quickly and gaining a lot of interest from companies. Since the autumn, Fujirebio Diagnostics, a leading diagnostics company, has moved into a state-of-the-art building at GoCo Health Innovation City. Mölnlycke and Integrum have announced plans to relocate their global headquarters there, while medtech company Intelligent Implants will soon move into GoCo House.

 

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