(Yicai Global) Nov. 30 -- Abogen Biosciences, which co-developed China’s first candidate messenger ribonucleic acid vaccine against Covid-19, has secured USD300 million in its latest financing round.

The Series C+ fundraiser was jointly led by Softbank Vision Fund and existing shareholder 5Y Capital, Abogen said. New investors such as Chimera Abu Dhabi, Fortune Ocean, Jinyi Capital, New Frontier Group, IMO Ventures, Mirae Asset Financial Group, and DNE Capital also took part.

The proceeds will be used to accelerate the clinical development of its mRNA vaccine candidate against Covid-19 and the transformation of its next-generation mRNA platform by integrating interdisciplinary technologies such as computational biology and artificial intelligence, the Suzhou-based firm said on its WeChat account yesterday.

“We are grateful to the continuous commitment and recognition from all of our investors and collaborators so that we are able to achieve multiple milestones in the race of developing mRNA vaccines against Covid-19,” said founder and Chief Executive Officer Bo Ying.

“Being a rapidly growing biotech company, Abogen has formed a core team with strong scientific background and the willingness to transform mRNA technology into therapeutic modalities to address otherwise undruggable targets,” Bo said.

Abogen has completed five fundraisers since its establishment in 2019. In August, the company said it had set a new record for the most raised in a single financing round in the country’s biomedical industry before an initial public offering. It banked USD720 million.

ARCoV, an experimental mRNA Covid-19 jab created by Abogen, Walvax Biotechnology, and the Academy of Military Medical Sciences’ Institute of Biotechnology, is the first mRNA vaccine approved for clinical trials in China. It was expected to start Phase III tests overseas at the end of July. Abogen secured a manufacturing license for the vaccine this month.

Editor: Futura Costaglione