China’s mRNA vaccine technology firm Abogen raises over $700 mln – Reuters
The ultrastructural morphology exhibited by the 2019 Novel Coronavirus (2019-nCoV), which was identified as the cause of an outbreak of respiratory illness first detected in Wuhan, China, is seen in an illustration released by the Centers for Disease Control and Prevention (CDC) in Atlanta, Georgia, U.S. January 29, 2020. Alissa Eckert, MS; Dan Higgins, MAM/CDC/Handout via REUTERS./File Photo
BEIJING, Aug 19 (Reuters) – China’s Suzhou Abogen Biosciences said on Thursday it has raised over $700 million to support clinical development of its potential COVID-19 vaccine and expand pipeline of other vaccine and treatment candidates.
Abogen’s potential shot against the new coronavirus, which it is jointly developing with a research institute affiliated with Chinese military and Walvax Biotechnology (300142.SZ), adopts the messenger RNA (mRNA) technology.
The candidate ARCoV is being tested in a Phase III clinical trial.
The fundraising was led by seven investors, including Singapore’s state investment firm Temasek Holdings [RIC:RIC:TEM.UL] and Hillhouse-backed GL ventures, Abogen said in a statement.
Reporting by Roxanne Liu and Ryan Woo Editing by Tomasz Janowski
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