In the middle of August, Abogen Biosciences announced that it had completed a third round of financing with its total amount exceeding 700 million US dollars, which set a new record for single financing before IPO of Chinese biopharmaceutical companies. In April this year, Abogen Biosciences announced that it had completed a second round of financing with 600 million yuan, which was mainly used for the development of mRNA innovative drugs. Added with this round of financing with a total amount of more than 700 million US dollars, Abogen Biosciences's leading position will be further enhanced in the field of mRNA in China.
Preliminary attempt of mRNA technology in the field of COVID-19 vaccine
With the outbreak of global COVID-19, mRNA technology has been applied for the pandemic prevention and control. In December 2020, the world's first mRNA COVID-19 vaccine developed by Pfizer/BioNTech obtained the emergency use authorization from FDA, and the vaccination can be available worldwide. In the middle of August this year, FDA officially approved the listing application of it, which is used to protect people aged 16 and up from the infection of COVID-19.
Since vaccination, mRNA vaccine has been available in 120 countries and regions worldwide. The successful application of mRNA COVID-19 vaccine makes mRNA technology ascend to the frontier in the field of medicines. In late February 2021, mRNA vaccine was ranked among the "Top 10 Breakthrough Technologies" selected by MIT Technology Review.
In China, mRNA COVID-19 vaccine (ARCoV), jointly developed by Abogen Biosciences, Academy of Military Medical Sciences and Walvax, was officially approved for clinical trials by National Medical Products Administration in June 2020, becoming the first mRNA vaccine approved for clinical trials in China. At present, Phase I and Phase II clinical research of mRNA vaccine has been completed. On July 21, this mRNA vaccine registered Phase III clinical trial in Chinese Clinical Trial Register, which is the first Phase III clinical trial in China for domestic mRNA vaccine.
It is worth noting that besides mRNA COVID-19 vaccine, other pipelines of Abogen Biosciences, such as mRNA herpes zoster vaccine, are going to enter the IND stage.
Supported by capital, the field of mRNA innovative drugs is popular.
As one of the Top 10 Breakthrough Technologies in 2021, mRNA technology has stepped onto the historical stage since the outbreak of COVID-19 pandemic. It started with vaccines, but its significance is much more than that. As a paradigm of the third wave of drugs in the world, it also shows great potential in other fields, such as tumor immunity and rare disease treatment. The primary attempt of mRNA COVID-19 vaccine once again ignited the industry's expectation for this technology with market and capital support.
Financing Events in the Field of mRNA innovative drugs in China Since July 2021 | ||
Manufacturer | Financing time | Financing scale |
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