Immorna Raises ￥100M in Series A Funding Round

(VCBeat) Feb. 1, 2021 -- Recently, Hangzhou-based Jiachen Xihai Biotechnology Co., Ltd. ("Immorna"), an mRNA-based drug developer, announced that it raised 100 million yuan in a Series A funding round, led by China Growth Capital, with participation from Zheshang Venture Capital, and the angel round leading investor Co-win Ventures.  The fresh round of funding will be used towards the clinical trials of a number of vaccines for infectious disease and cancer drugs in China and abroad.

Immorna, founded in 2019, is a company with leading industrial experience, especially in CMC, in the domestic mRNA-based therapeutics market. The company is committed to the development of innovative drugs based on the mRNA platform. In addition to mRNA technology, the company is also developing novel immune adjuvants for use in recombinant subunit vaccines.

The core founding team of Immorna has more than decades of experience in the R&D of vaccines and drugs at home and abroad. The chairman and CEO of the company, Dr. Wang Zihao, has nearly ten years of experience in the field of mRNA technology and has a profound understanding in drug delivery systems, preparations, the design and synthesis of mRNA and so on.

The company's core technology based on self-replicating mRNA is at the leading level in the world and can be applied to infectious disease vaccines, rare disease treatment, medical cosmetology and other fields, especially in tumor immunotherapy. At present, the R&D of products for several indications is progressing smoothly, and some products have entered the clinical trial application.

CGC is a China-focused seed and early venture investor since 2006. They back extraordinary entrepreneurs from seed to early growth in enterprise, frontier tech, life science, marketplace and consumer verticals. CGC pioneered fintech and enterprise innovations in China since founding in 2006 with a unique portfolio of fintech, enterprise software, frontier technology and marketplace players.

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