Ning Li (Junshi)

Af­ter chim­ing in an­ti­body to Covid-19 fight, Jun­shi drops $30M to kick off mR­NA joint ven­ture in Chi­na

A pi­o­neer­ing biotech in Chi­na has its eyes on mR­NA.

Jun­shi Bio­sciences — which made its name as the first do­mes­tic drug­mak­er to steer a PD-(L)1 across the fin­ish line at the NM­PA — is team­ing up with fel­low Shang­hai biotech Im­mor­na on a joint ven­ture that will be ded­i­cat­ed to both con­ven­tion­al non-repli­cat­ing mR­NA drugs and self-repli­cat­ing ver­sions.

The ini­tial in­vest­ment from Jun­shi comes in at around $30 mil­lion (RMB$200 mil­lion), a quar­ter of which will be used to buy up 50% of the JV, with the po­ten­tial to in­ject up to $123 mil­lion to­tal (RMB$799 mil­lion). What Im­mor­na brings to the ta­ble is its plat­form, the val­ue of which is es­ti­mat­ed at RMB$50 mil­lion.

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