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Suzhou Abogen Raises $300 Million to Support mRNA COVID Vaccine
Suzhou Abogen Biosciences, an mRNA company, raised $300 million to support development of its COVID-19 vaccine and other drug candidates. In August, Abogen completed a very large $720 million C funding. The company is focused on nucleic acid-based (RNA and DNA) therapeutics for cancer and infectious diseases. Its COVID mRNA vaccine was originally discovered by
Also participating in the latest funding were Chimera Abu Dhabi,
Abogen said it would use the proceeds to improve its mRNA platform with technologies such as artificial intelligence.
To develop its vaccine, Abogen partnered with Walvax Biotechnology to manufacture the product. Yesterday, Abogen announced further that GenScript ProBio is in charge of making plasmids for the vaccine.
Currently, Abogen is conducting a Phase III trial of ABO-028M in
In September 2021, Walvax Bio's modular manufacturing facilities for the COVID-19 mRNA vaccine began operations as the company anticipates the vaccine's approval.
Endpoints News suggested that Abogen intends to use blockbuster revenues from its mRNA vaccine to catapult the company into a first-rank biopharma, much as Moderna and BioNTech have done with their mRNA vaccines. Abogen is one of only a few
Abogen has not been particularly visible, even after its $730 million C round. It has said, however, that its mRNA vaccine offers an important differentiating feature of much improved stability at warm temperatures.
See our other articles on Abogen.