April 27 Quick Takes: Singapore mRNA play RVAC debuts with $140M

CBC Group unveiled RVAC Medicines Pte. Ltd., an mRNA platform company that the firm incubated in Singapore. RVAC is developing therapeutics and vaccines, including what it says could be a best-in-class COVID vaccine. Led by CEO Sean Fu, the start-up is building a new R&D center in Singapore and manufacturing facilities in the island nation and China. The company has raised $140 million since its launch in June 2021, including a series B round of an undisclosed amount led by CBC with participation from Temasek’s Pavilion Capital, Singapore’s EDBI and South Korea’s GS Holdings.

Amgen Inc. (NASDAQ:AMGN) said it would contest a notice of deficiency from the IRS that seeks to increase its taxable income for 2013-15 by $5.1 billion and penalize the biotech $2 billion. The company said the notice proposes adjustments primarily related to the allocation of profits between its entities in the U.S. and Puerto Rico,...