Advaccine Snags ￥30M from Penyao E.P.

According to PEdaily.cn, Beijing Advaccine Biotechnology Co., Ltd. ("Advaccine"), a vaccine research and development company, has got 30 million yuan in a new round of financing from a listed company, Penyao E.P. Proceeds of this financing will be used to support the R&D and production of vaccines and drugs related to the recently emerged strain of coronavirus (2019-nCoV) that has killed numerous people and infected thousands more in China to date. 

Besides, Penyao E.P. will participate in the capital increase as a financial investor. After that, the registered capital of Advaccine will increase to 16.2857 million yuan, and Penyao E.P. will hold 7.89% equity of Advaccine.

Founded in 2009, Advaccine focuses on the research of genetically engineered vaccine, DNA vaccine and innovative vaccine adjuvant technology. Currently, the core products under development are preventive vaccines to the new respiratory syncytial virus (RSV), therapeutic vaccines for hepatitis B and type 1 diabetes, and the new coronavirus (2019-nCoV) vaccine, etc. 

In January 2020, Advaccine signed a memorandum of cooperation with Inovio, a Nasdaq-listed company in the U.S., to develop a vaccine against 2019-nCoV. The goal of this collaboration is to leverage Advaccine's expertise to run a Phase 1 trial in China in parallel with Inovio's clinical development efforts in the U.S. Currently, Advaccine has completed the design of the vaccine and has rapidly prepared the candidates. It is conducting follow-up experiments and trials. Advaccine is expected to complete preclinical development in 4 to 6 months and then apply for entry into the clinical phase.

Founded in 1984, PenYao E. P is a pioneer in China's environmental protection. PenYao E.P.(stock code: 300664) was listed on the China A-share market. The company has been committing to the environmental protection business and leading China's environmental protection industry since then. With more than 30 years continuous innovating and professional managing, PenYao E.P. has become an enterprise group that integrating R&D, equipment design&manufacturing, project contracting, waterworks investment, solid waste treatment. ecoariculture and operation management.