Series B financing led by CBC with participation from Temasek’s Pavilion Capital, EDBI and GS Holdings
RVAC plans to build an R&D center and manufacturing facility in Singapore Y Porcelain
SINGAPORE, April 26, 2022 /PRNewswire/ — RVAC Medicines Pte. Ltd. (“RVAC”), a messenger RNA (mRNA) platform startup company incubated in Singapore by CBC Group (“CBC”), today announced the completion of its series B financing, bringing the company’s total funds raised since its inception to june 2021 for 140 million US dollars. RVAC aims to address unmet medical needs, particularly in emerging markets, through new vaccines and therapeutics, including a potential best-in-class COVID vaccine. Proceeds from this funding round will be used for the preclinical and clinical development of the company’s vaccine and therapeutic programs and for the construction of world-class R&D centers and manufacturing capabilities, including a new R&D center. D in Singapore and manufacturing facilities in both Singapore Y Porcelain.
In addition to CBC, participants in the Series B financing include international investors Pavilion Capital, EDBI, a Singaporeglobal investor based in GS, as well as GS Holdings, a leading business group in South Korea.
“Health care knows no borders, and CBC is proud to continue to bring world-class global resources and technologies to support RVAC.” wei-fusaid the CEO of CBC Group. “As a Singaporean company, we look forward to continuing to contribute to the country’s vibrant biotech ecosystem. We are excited to continue leveraging Singapore deep base of qualified talent and strong research capabilities as RVAC further accelerates its portfolio of vaccines and mRNA therapeutics to better meet global healthcare needs and connect with the growing Asian market.”
“We are proud to have a great list of investors joining us in this funding round. Their support will enable us to rapidly advance new mRNA vaccines and therapeutics efficiently through end-to-end supply chain management.” to end, including raw materials, thereby positioning RVAC to better serve patients around the world,” said be fu, executive director of RVAC. “In particular, this investment will accelerate the development of a highly effective multivalent COVID vaccine that could offer greater protection against future variants, as well as further mRNA innovations for other infectious diseases, autoimmune diseases and cancers.”
RVAC’s COVID vaccine candidates have been shown to be safe and effective in preclinical studies and will enter clinical studies in the third quarter of 2022. The company has a strategic partnership with Vancouverbased at Acuitas Therapeutics, whose proprietary lipid nanoparticle delivery system plays a critical role in Pfizer-BioNTech’s BNT162b2 vaccine. RVAC has engaged world-class scientific advisors, including prominent leaders in mRNA biology, immunology, and drug delivery.
“RVAC has made great progress in a short time,” said Sean Cao, Executive Director of RVAC and General Director of CBC Group. “The RVAC team has rich industry and technical experience in the research, development, manufacturing and commercialization of vaccines and therapeutics, including extensive experience with mRNA technology. We are very confident that this veteran team with a proven track record of success will deliver exciting and innovative mRNA products to address the unmet medical needs of patients around the world.”
Chu Swee YeokCEO and President of EDBI, said, “mRNA technologies have revolutionized healthcare in recent years. Singapore Vibrant biomedical research ecosystem, strong regulatory infrastructure, and highly-skilled talent base provide a strong foundation for catalyze innovative new mRNA-based discoveries and regional expansion for healthcare companies like RVAC Medicines. As a global value-adding investor, we are excited to strengthen our partnership and embark on this new chapter of growth with the RVAC team.”
Suhhong Hur, Senior Executive Vice President of GS, said: “We are very pleased to be a part of RVAC’s journey in its effort to fight various infections and diseases plaguing mankind, and we are pleased to see what RVAC has achieved in terms of its speed and We will also leverage our resources and network to support RVAC’s vision of meeting unmet healthcare needs and providing developed and emerging markets with equal access to healthcare solutions.”
RVAC plans to open a new R&D center in Singapore and manufacturing facilities in Singapore Y Porcelaincomplementing its existing global R&D research centers in Boston Y Carry off. The initiatives are expected to create more than 100 jobs in Singapore and will help bring the company’s anticipated COVID vaccine and other mRNA-based products closer to emerging markets, especially those in Southeast Asia.
RVAC Medicines is an mRNA platform company based in Singapore with R&D centers in Boston Y Carry off. Leveraging its mRNA technology and strategic alliances, the company is building a pipeline of new mRNA vaccines and therapeutics to address unmet medical needs, particularly in emerging markets. The company is led by an experienced management team, supported by a world-renowned scientific advisory board.
cbc Group, from Asia the largest investment firm dedicated to healthcare, is committed to creating value and integrating global resources. Partnering with the world’s leading entrepreneurs and scientists, its unique investor-operator approach has empowered the world’s leading healthcare companies to expand access to affordable healthcare, catalyze innovations and improve efficiencies to meet healthcare needs. unsatisfied throughout the world. Founded in 2014, CBC has a leading team of investment, industry and portfolio management professionals based in Singapore with offices in Carry off, beijing, Hong Kong Y New Yorkand presences in Boston, San Diego, San FranciscoY tokyo. CBC focuses on platform building, purchasing, credit and growth-focused opportunities in multiple core areas within the healthcare sector, including pharmaceutical and biotech services, medical technology and healthcare. For more information, visit www.cbridgecap.com.
Investing since 1991, EDBI is a SingaporeGlobal investor based in select high-growth technology sectors ranging from Information and Communication Technology (ICT), Emerging Technology (ET), Healthcare (HC), and Singapore’s promising SMEs in strategic industries. As an investor that creates value, EDBI helps companies achieve their ambitious goals by leveraging our extensive network, resources and experience. With our growth capital, EDBI supports companies seeking to grow in Asia and globally through Singapore. For more information, visit https://www.edbi.com.
About GS Group
GS is Korea’s eighth largest corporate group in terms of assets with core businesses ranging from petrochemical, energy and utilities, retail to engineering and buildings. Biotechnology, together with digital and climate technologies, are the future growth engines for GS to achieve sustainability. To this end, GS has been active in building a business ecosystem that connects industry players in those three areas through investments and partnerships globally.
View original content: https://www.prnewswire.com/news-releases/rvac-medicines-a-cbc-incubated-mrna-platform-company-raises-us140-million-to-expand-rd-and-manufacturing – capacity-301533302.html
SOURCE CBC Group