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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