Abogen Biosciences Raises Over $700 Million in Series C Funding to Accelerate mRNA Platform Expansion Across Vaccines and Therapeutics
Leveraging our proprietary mRNA technology platform to deliver more innovative medicines for patients.
Today, Abogen Biosciences (hereinafter referred to as "Abogen") announced the completion of a Series C financing round totaling over $700 million, with Gaorong Ventures participating in this round. The funding will further strengthen Abogen's leading position in China's mRNA sector.
Founded in early 2019, Abogen is a clinical-stage innovative biopharmaceutical company focused on messenger RNA (mRNA) drug development, possessing industry-leading, proprietary mRNA and nano-delivery technology platforms. The company has built a robust product pipeline spanning infectious disease prevention and tumor immunotherapy. In June 2020, Abogen's novel coronavirus mRNA vaccine (ARCoV), developed jointly with the Academy of Military Medical Sciences and Walvax Biotechnology, received clinical trial approval from the National Medical Products Administration, becoming the first mRNA vaccine in China approved for clinical trials. The vaccine has now completed Phase I and Phase II clinical studies, with Phase III trials already underway. Leveraging its independently innovated mRNA technology platform, the company will accelerate clinical development of its COVID-19 vaccine product line, expand its other vaccine pipeline, enrich its existing oncology therapeutics pipeline, and extend into additional therapeutic areas. Meanwhile, the company is committed to building out China's leading mRNA formulation R&D and large-scale manufacturing platform, providing a solid foundation for translating and applying mRNA technology across broader pharmaceutical directions.
Dr. Bo Ying, founder and CEO of Abogen, stated: "We are deeply grateful for the recognition and support from many renowned investors in the industry, and even more so for the tireless efforts of all our team members and the steadfast support of our partners. Abogen will remain dedicated to the technological development and application of mRNA, relying on our proprietary mRNA technology platform to provide patients with more innovative drugs and address unmet clinical needs. We look forward to using this round of financing to accelerate the advancement of our COVID-19 vaccine products to adapt to the evolving global pandemic, expand our competitive advantages, serve the domestic market while keeping a global perspective, and become an internationally competitive leading enterprise in the mRNA field. We also welcome the most outstanding talent at all levels in the industry to join Abogen."
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