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)
