BEIJING (Reuters) – Chinese mRNA technology firm Suzhou Abogen Biosciences said on Monday it had raised $300 million from investors including SoftBank Group Corp’s Vision Fund to support the development of its potential COVID-19 shot and other drug candidates.
The capital raise, led by SoftBank Vision Fund and 5Y Capital, also attracted investors such as Chimera Abu Dhabi, Fortune Ocean and Mirae Asset Financial Group.
It came after Abogen received $720 million in August from investors including Temasek Holdings and Hillhouse-backed GL Ventures.
The proceeds will also be used to improve its mRNA platform with technologies such as artificial intelligence, Abogen said in a statement.
Reuters reported on Friday, citing sources, that SoftBank was in the final stage of investment talks with Abogen and was interested in leading the capital raise.
(Reporting by Roxanne Liu and Ryan Woo; Editing by Kirsten Donovan)