China’s Suzhou Abogen Biosciences said on August 19th that 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.
For further information, see Reuters (https://www.reuters.com/business/healthcare-pharmaceuticals/chinas-mrna-vaccine-technology-firm-abogen-raises-over-700-mln-2021-08-19/)