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China’s mRNA vaccine technology firm Abogen raises over $700 million – Metro US

China’s mRNA vaccine technology firm Abogen raises over $700 million

FILE PHOTO: An illustration, created at the Centers for Disease
FILE PHOTO: An illustration, created at the Centers for Disease Control and Prevention (CDC), depicts the 2019 Novel Coronavirus

BEIJING (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, 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 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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