Shanghai Junshi Bio formed a mRNA Joint Venture with Hangzhou’s Immorna to develop new drugs for cancer, plus infectious and rare diseases. Initially, the JV will have a value of $16 million with Junshi contributing half of that in cash and Immora adding in its mRNA IP for the other half. Junshi, a company best known for developing the first domestically developed PD-1 drug approved in China, said it would invest up to $123 million in the JV. Immorna focuses on process development and optimization of mRNA and delivery vehicles along with R&D of novel nucleic acid drugs.
For further information, see China Bio Today (http://www.chinabiotoday.com/articles/junshi-16-million-jv-immorna)
