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China’S Abogen Biosciences Raises $300M In Series C+ Round

China’S Abogen Biosciences Raises $300M In Series C+ Round

12/02/21, 3:15 PM
Location
abu dhabi’s
Money raised
$300 million
Round Type
series c
Chinese mRNA vaccine developer Suzhou Abogen Biosciences Co Ltd has raised as much as $300 million in its Series C+ round of funding, per an announcement.

Company Info

Company
Abogen Biosciences
Location
abu dhabi’s, abu dhabi, are
Additional Info
The corpus raised will help the company accelerate its clinical development of COVID-19 vaccine products, and expedite the next-generation mRNA platform. The fundraising comes roughly three months after the company completed a Series C round worth $720 million co-led by seven investors such as Temasek Holdings, GL Ventures, Lilly Asia Ventures (LAV) and Yunfeng Capital. In April this year, Abogen has raised 600 million yuan ($94 million) in its Series B round from GL Ventures, Yunfeng Capital, as well as state-backed PICC Capital and SDIC Venture Capital, among others.Set up in 2019, Abogen’s medicines cater to areas of cancer and infectious diseases.The firm said that its flagship coronavirus mRNA vaccine (ARCoV) – in partnership with the People’s Liberation Army Academy of Military Sciences and Walvax Biotechnology – is under the phase III clinical trial in China. Earlier this month, the Suzhou-based firm received its manufacturing licence for the COVID-19 mRNA vaccine.“mRNA technology represents a major breakthrough in biotech in recent years.