China’s mRNA Vaccine Developer Stemirna Secures $200 Million in New Funding

Founded by a group of Chinese scholars in Shanghai’s Zhangjiang Drug Valley, China-based Stemirna Therapeutics (Stemirna) announced the completion of a new funding round, getting $200 million richer. Hangwen Li, President, and CEO of Stemirna, said that the proceeds would be used to facilitate the clinical development and production of its mRNA COVID-19 vaccine.

The funding was led by some of the big investors in China, including China Merchants Group, Sequoia Capital China, Greenwoods Investment, and Wuxi Apptec, to name a few.

Vaccines for Immuno-oncology and Infectious Diseases

Stemirna’s pipeline focuses on the development of immuno-oncology and infectious disease vaccines. By utilizing its mRNA synthesis platform and LPP (lipopolyplex) nano-delivery platform, the firm has co-developed a COVID-19 mRNA vaccine candidate with China’s Tongji University, and a personalized cancer vaccine candidate.

Other than that, Stemirna plans to develop vaccines that target influenza, acute myeloid leukemia (AML), KRAS cancer, HPV, EBV by 2023.

mRNA COVID-19 Vaccines to Enter Phase 2 Trial

Hangwen Li said that the COVID-19 vaccine is designed to prevent the Beta (B.1.351, found in South Africa), Gamma (P.1, found in Brazil), and Delta (B.1.617.2, found in India) COVID-19 variants. It has already initiated Phase 1 clinical trials on March 25th and could soon move to Phase 2 in China. At the same time, an overseas Phase 3 trial is on the way.

Stemirna was founded in 2016, receiving around $3 million in total in the Angel round and Series A round. The firm is currently located in the Jinqiao Pilot Free Trade Zone.

Related Article: COVID-19: WHO Grants Worldwide Emergency Use Approval for First Chinese Vaccine

Author

Tyler Chen

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