Vaccine Developer Innorna Raises USD120 Mn in Series B Financing

Innorna (Chinese:深信生物), a biotech company specializing in mRNA drugs and delivery vector technology, has completed a USD120 million Series B financing round led by CDH Investments, HHF Capital and Huaxing Medical Treatment Industry Fund, with E Fund Asset Management, BOCG, CPE and Optimas Capital also taking part. 

According to Innorna, it will use the Series B funding to improve mRNA drug research and development technology and explore new research and development pipelines.

Founded in November 2019, Innorna is a platform-based company engaged in the development of new preventive and therapeutic vaccines and drugs based on mRNA technology and LNP delivery technology.

The company has applied for a number of patents on mRNA and LNP technology platforms, and completed the layout of multiple research and development pipelines.

In order to promote the relevant research and development pipelines, Innorna established a R&D and CMC (Chemical Manufacturing and Control) team of nearly 200 people, including several senior managers who used to work in large international pharmaceutical companies such as GSK, Pfizer, and BMS. Innorna also has a 4,500-square-meter R&D laboratory and a 2,500-square-meter pilot workshop.

Innorna will not confine itself to the research and development of a certain type of nucleic acid drugs, but will continue to explore the application boundaries of mRNA technology to bring best-in-class and first-in-class innovative drugs for clinical treatment, says Dr. Li Linxian, founder and CEO of the company.

Dr. Liu Dan, senior partner at CDH VGC, said that mRNA technology has made great strides during COVID-19 and showcased its potential in vaccines and other dimensions. “We expect Innorna to develop new mRNA vaccines and drugs independently based on a new generation of LNP products as soon as possible.”

Innorna’s domestic competitors in the mRNA area include Abogen Biosciences, StemiRNA, RNAcure, Rhegen and Longuide.