Week In Review: Suzhou Abogen Raises $700 Million For MRNA COVID-19 Vaccine

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COVID-19 Pandemic

  • Suzhou Abogen Biosciences raised over $700 million in a record-breaking Series C round to support a Phase III trial of its mRNA COVID-19 vaccine (see story). The company has completed a Phase II trial of the vaccine but hasn't released any data from the trial. The Phase III trial started in May of this year. Abogen is developing ARCoV together with a China military medical research group and Walvax Biotech (300142.SZ). The funding was led by seven investors, including Temasek Holdings, Singapore's state-owned investment fund, and Hillhouse-backed GL ventures.  
  • Brii Bioscience (2137.HK), a Beijing-North Carolina company, reported that its combination monoclonal antibody therapy reduced hospitalization and death in early-stage COVID-19 patients (see story). In an interim analysis of the US Phase II/III trial, the BRII-196/BRII-198 combination lowered hospitalization/death by 73% compared to placebo. Brii will continue analysis of subgroups to identify the clinical benefits of early (≤5 days) versus late (6-10 days) treatment, which will be useful for making clinical treatment decisions. Brii has also started a China trial of the combination therapy.  

Deals and Financing 

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