On July 20, 2021 Shanghai Junshi Bio reported that formed a mRNA Joint Venture with Hangzhou’s Immorna to develop new drugs for cancer, plus infectious and rare diseases (Press release, Shanghai Junshi Bioscience, JUL 20, 2021, View Source [SID1234585126]). Initially, the JV will have a value of $16 million with Junshi contributing half of that in cash and Immora adding in its mRNA IP for the other half. Junshi, a company best known for developing the first domestically developed PD-1 drug approved in China, said it would invest up to $123 million in the JV. Immorna focuses on process development and optimization of mRNA and delivery vehicles along with R&D of novel nucleic acid drugs.

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