GreenLight Biosciences Secures $17 Million Series F Funding to Scale mRNA Production for COVID-19 Vaccine Candidates

VCBeat (WeChat ID: vcbeat) has learned that Boston-based biopharmaceutical company GreenLight Biosciences completed a $17 million Series F financing round on May 12 local time. Flu Lab, Xeraya Capital, and Baird Capital jointly participated in this round of investment. The funds will be used to enhance mRNA production capacity, which can be utilized for trials and eventual deployment if any candidate vaccines prove effective.

Meanwhile, GreenLight is also developing several different versions of its mRNA-based candidate vaccines to prevent SARS-CoV-2 infection (the virus that causes COVID-19). Some funding will also be allocated to R&D efforts in this area.

GreenLight Biosciences is committed to leveraging biotechnology to address the health challenges facing people today. As one of the greatest challenges in modern human history, the COVID-19 pandemic has been met by GreenLight through the development of vaccines powered by its scalable cGMP manufacturing platform.

GreenLight is accelerating the development of its proprietary cGMP mRNA production platform. The company will leverage this platform to provide cGMP pharmaceutical-grade inputs required for vaccine R&D, while establishing scalable biomanufacturing capabilities to support the widespread availability of mRNA vaccines.

mRNA technology is a new generation of vaccine technology that has emerged this year. Its principle involves using mRNA to induce the immune system to respond to proteins in pathogens. Its advantages include simple preparation steps, short production cycles, and the ability to respond rapidly to epidemic outbreaks.

In addition to the aforementioned advantages, mRNA vaccines are also characterized by a relatively high safety profile. Because they do not contain live virus and require shorter preclinical development timelines, the entire cycle from development to testing and deployment is abbreviated. This has made mRNA vaccine R&D a hot area of focus and investment for biotechnology companies. However, to date, no company has successfully developed a vaccine that has completed the full process of development, regulatory approval, and commercial deployment.

To address the ongoing global COVID-19 pandemic, many companies have accelerated the development of mRNA vaccine candidates, with some already entering clinical trials. On March 18, the mRNA vaccine developed by the U.S. biotechnology company Moderna received approval from the U.S. FDA and entered the first phase of clinical trials. Meanwhile, GreenLight Biosciences is actively engaged in the preclinical development of its mRNA vaccines. To date, it has prepared a portfolio of COVID-19 vaccine candidates, with commercial launch expected to take another 12–18 months.

Xeraya Capital, established in 2012 and headquartered in Kuala Lumpur, is an investment firm composed of seasoned investment and business experts in the life sciences sector. The firm provides flexible capital support to enterprises through venture capital and private equity, with a focus on investments in bioscience fields such as medical technology, biopharmaceutical technology, and bio-renewable energy.

Baird Capital was established on January 1, 1919, and is headquartered in London, United Kingdom. Baird Capital engages in venture capital, growth equity, and private equity investments across strategic industries worldwide. The firm comprises 60 senior investors from the United States, the United Kingdom, China, and Japan, whose specialized industry expertise and management capabilities help companies better realize their commercial value.

Flu Lab is a charitable organization that collaborates with strategic partners. Established in 2018, it channels donations and investments into research on the influenza ecosystem, translating findings into applied technologies and medical countermeasures.