China's Abogen, a small mRNA upstart, sets a biotech record with mammoth $700M Series C
A little-known startup from China shocked the biotech world Thursday with a record-breaking Series C, showing how deep-pocketed investors are angling to get a piece of the mRNA vaccine pie.
Abogen Biosciences closed a staggering $700 million round Thursday, the company announced, largely to push forward its mRNA-based Covid-19 vaccine candidate. But the funds will also help the Suzhou, China-based biotech vastly expand its other vaccine and oncology programs, while building out its manufacturing capabilities to support those efforts.
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