Press Release

MoFo Advises on $207 Million Financing of CBC Group’s Two Biotechnology Portfolio Companies

05 May 2022

Morrison & Foerster LLP represented two of CBC Group’s biotechnology portfolios companies , RVAC Medicines (“RVAC”), an emerging messenger RNA (mRNA) platform company with R&D centers in Boston and Singapore, and Ensem Therapeutics (“Ensem”), a Boston-based biotechnology company focusing on high value and difficult-to-drug oncology targets, in their financing.

MoFo advised RVAC in its series A and series B financing, bringing the company’s total funds raised to $140 million. Proceeds from this financing round will be used for preclinical and clinical development of the company’s vaccine and therapeutics programs and building world-class R&D centers and manufacturing capabilities.

MoFo also advised Ensem in its $67 million Series A financing. The financing is led by GGV Capital, with co-investment by Pavilion Capital, Cenova Capital, and Mitsui & Co. Global Investment, Inc. Proceeds will be used to further advance the company’s Kinetic EnsembleTM platform and to accelerate its R&D pipeline.

The MoFo teams advising on both transactions are led by Shanghai M&A Partner Ruomu Li and Shanghai M&A/TTG Partner Chuan Sun, together with Shanghai Associate Wenlan Geng and Chloe Liu.

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