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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