21 July 2021 | News
Junshi Biosciences and Immorna Announce Joint Venture
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China-based Junshi Biosciences has established a joint venture with Immorna to develop and commercialize new drugs for the global market in the fields of cancer, infectious diseases, rare diseases, and other diseases, based on the mRNA technology and other technology platforms.
Under the terms of the agreement, Junshi Biosciences will inject at most 799 million RMB in cash into the joint venture. The initial investment is 200 million RMB, of which 50 million RMB will be used to subscribe to 50% of the registered capital of the joint venture.
Immorna will invest in the joint venture company with intellectual property rights involved in the mRNA technology platform. The 50 million RMB in the estimated asset value of the platform will be used to subscribe to other 50% of the registered capital of the joint venture company.
“As the mRNA Technology Platform gradually matures, its potential in a variety of fields—including infectious diseases, cancer, rare diseases, and other diseases—has become increasingly evident. We look forward to developing revolutionary therapeutics through mRNA Technology Platform with domestic intellectual property rights” says Dr. Ning Li, Chief Executive Officer of Junshi Biosciences.
Immorna’s unique mRNA construction and established versatile process platform are suitable for the development of self-replicating mRNA as well as conventional non-replicating mRNA products, enabling the construction of a customized form of mRNA molecule for a specific disease. In terms of delivery vehicles, Immorna has developed several nanoliposome particles (LNP) suitable for different administration methods and has technical capabilities in the field of research and development of new non-LNP delivery vehicles.