Zhifei Biological to Buy 10% of Shenxin Biotech to Develop mRNA Jab
Liao Shumin
DATE:  Dec 08 2020
/ SOURCE:  Yicai
Zhifei Biological to Buy 10% of Shenxin Biotech to Develop mRNA Jab Zhifei Biological to Buy 10% of Shenxin Biotech to Develop mRNA Jab

(Yicai Global) Dec. 8 -- Chongqing Zhifei Biological Products will spend CNY35 million (USD5.4 million) to buy a 10.189 percent stake in Shenzhen Shenxin Biotechnology, one of China’s few startups developing mRNA vaccines for rare diseases, and become the third-largest shareholder to better its positioning in new technology platforms, Zhifei Biological announced yesterday.

Formed on Nov. 7, the Shenzhen-headquartered company has CNY2.5 million in registered capital, public data show. The firm focuses on vaccines for infectious disease and tumor therapies, and rare disease gene therapies. It is conducting several simultaneous trials, and some have entered the preclinical study phase.

The Chongqing-based firm’s stock [SHE:300122] was up 1.08 percent at CNY141.44 (USD21.63) at midmorning.

Shenxin Biotech reported CNY36.2 million in total assets, CNY31.3 million in net assets, and no operating revenue as of Sept. 30.

The firm was selected as one of the 50 Smartest Companies of Year 2020 by MIT Technology Review. It stays abreast of international mRNA drug giants’ development methods and delivery technologies, per the announcement.

Young Talent

Shenxin Biotech’s legal representative Dr. Li Linxia is an assistant professor with Sweden’s Karolinska Institute and was one of MIT Technology Review’s 35 Innovators Under 35 in 2017. Li has over 10 years’ experience in mRNA, however, especially in lipid nanoparticle delivery technology.

mRNA vaccines are based on the mRNA structure corresponding to pathogen antigen proteins and go to human cells via different delivery vehicles to stimulate the cells to produce antigen proteins and trigger specific immune responses in the body after translation, according to Zhongtai Securities’ research report.

Compared with the first- and second-generation vaccines, mRNA vaccines take less time to develop at three to five years and to produce at 40 days. They are safer and trigger longer immune responses. The Covid-19 vaccines of the US drug makers Pfizer and Moderna are both mRNA vaccines.

A recombinant protein subunit vaccine for the coronavirus jointly developed by the Institute of Microbiology of the Chinese Academy of Sciences and Zhifei Biological began Phase III clinical tests last month.

Editor: Ben Armour
 

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Keywords:   Chongqing Zhifei Biological Products Co.,mRNA vaccine,Shenxin Biotech