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Innovac Therapeutics, a pioneer in mRNA therapeutics, has successfully raised $18 million in a Series Pre-A financing round. This significant financial boost is set to propel the company’s lead programs and enhance its manufacturing capabilities.
A Strong Vote of Confidence from Investors
The recent funding round witnessed participation from notable investors such as Elikon Venture, Vision Plus Capital, Yunion Healthcare Ventures, and TG Sino-Dragon Fund. This investment underscores the industry’s faith in Innovac’s groundbreaking technology and its overarching mission.
The Potential of mRNA Technology
Michael Zhang, MD, Co-Founder and CEO of Innovac, expressed his gratitude towards the investors and emphasized the potential of mRNA vaccines in addressing critical medical needs in oncology and infectious diseases. The company’s commitment to harnessing the power of mRNA technology is further echoed by Hang Yuan, PhD, Co-Founder and Chief Technical Officer (CTO), who envisions this funding as a stepping stone to bring transformative ideas to fruition.
The mRNA Revolution in Vaccines
Nicholas Valiante, PhD, Co-Founder and Chief Scientific Officer (CSO) of Innovac, highlighted the ongoing revolution in the vaccine industry. The success of mRNA vaccines, especially during the SARS-CoV2 pandemic, and the breakthroughs in personalized cancer vaccines using mRNA technology, signify a promising future.
Strengthening the Scientific Advisory Board
In addition to the funding news, Innovac announced the inclusion of esteemed members to its scientific advisory board (SAB). David Bernstein, MD, Shan Lu, MD, PhD, and Elaine Mardis, PhD, are set to bring unparalleled scientific expertise, further fortifying Innovac’s commitment to innovation.
About Innovac Therapeutics
Established in 2022, Innovac Therapeutics stands at the forefront of biotechnology, dedicated to crafting high-quality vaccines and therapeutics. With a foundation built on proprietary mRNA technology platforms, the company aims to address the unmet medical needs of patients worldwide.
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