China vaccine developer Immorna raises $100m
Immorna, a China-based biotech start-up focused on RNA-based therapeutics and vaccines, has raised about USD 100m across two Series A extensions.
Investors include Yuexiu Industrial Fund, GL Ventures, Shenzhen Zhenji Capital, Xiamen C&D Emerging Industry Equity Investment, Hangzhou Tailong Venture Capital Partnership, TigerYeah Capital, and the state-owned Enterprises Restructuring Fund.
Existing backers China Growth Capital, Zheshang Venture Capital, and Cowin Venture Capital re-upped. China Growth led a CNY 100m (USD 15m) Series A in 2021, following an initial round backed by Cowin and Alwin Capital in 2019.
RNA, or ribonucleic acid, is a molecule essential in the coding, decoding, regulation, and expression of genes. It has become a mainstream path of vaccine development since BioNTech launched its mRNA vaccines for COVID-19 in 2020. Meanwhile, a new generation of start-ups has begun targeting the RNA path.
Immorna is utilising multiple RNA platforms, including conventional mRNA, self-replicating srRNA, and circular RNA. It claims its srRNA platform features improved immunogenicity and reactogenicity compared to mRNA.
The start-up has received three US investigational new drug (IND) clearances to date. This includes a srRNA vaccine targeting shingles that was approved for a multi-centre study last month.
Other players in this space include circular RNA specialist Therorna, which describes its technology as more stable and longer lasting than the RNA used in most mRNA vaccines. It is hoped this will result in fewer side effects. Therorna closed a USD 42m Series A led by MSA Capital last year.
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