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

BEIJING, Aug 19 (Reuters) – China’s Suzhou Abogen Biosciences announced Thursday that it has raised over $ 700 million to support the clinical development of its potential COVID-19 vaccine and the pipeline of other vaccine and treatment candidates to expand.

Abogen’s potential shot against the new coronavirus that it is jointly developing with a research institute affiliated with the Chinese military and Walvax Biotechnology (30142.SZ), adopts messenger RNA (mRNA) technology.

The candidate ARCoV is being tested in a phase III clinical study.

The fundraising was led by seven investors, including Singapore’s state-owned investment firm Temasek Holdings [RIC:RIC:TEM.UL] and Hillhouse-backed GL companies, Abogen said in a statement.

Reporting by Roxanne Liu and Ryan Woo Editing by Tomasz Janowski

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