Immuno Cure BioTech (Immuno Cure), a Hong Kong-based biotech company, disclosed on Thursday that it had completed the closing of the $12 million tranche of its $27 million Series A fundraising round.
This round will be used to speed up the development of DNA vaccines and antibodies as well as to get ready for an initial public offering (IPO) in Hong Kong, according to a statement from Immuno Cure. It will be led by the AEF Greater Bay Area Fund, which is managed by Gobi Partners GBA (Gobi GBA).
Located in the Hong Kong Science Park, Immuno Cure is a biotechnology company in the clinical stage.
With two DNA vaccine candidates, ICVAX and ICCOV, currently in clinical trials, the company focuses on research and development of immunotherapies for cancers, inflammatory, and infectious diseases. These therapies are based on its patented “PD-1-enhanced DNA Vaccine Platform” and “Anti-42PD1 Antibody Platform”.
“This funding round is a landmark in Immuno Cure’s business expansion. We are honored to receive strong support from the AEF Greater Bay Area Fund, which affirms the recognition of our scientific merits and R&D achievements,” said Dr. Xia JIN, Chief Executive Officer of Immuno Cure.
He claims that Immuno Cure will keep pushing the boundaries of DNA drugs, antibodies, and novel immunotherapies while also conducting research and development on cutting-edge vaccine technologies to strengthen the company’s arsenal against cancers and infectious diseases.
In the meantime, infectious diseases are a universal problem that have threatened global public health for many years and have been further highlighted by COVID-19, according to Gobi Partners GBA Managing Partner Chibo Tang.
“We believe that Immuno Cure’s technologies have innovative applications of immunotherapies for not only infectious diseases but also cancers and other ailments down the line, and have the potential to truly change the world,” he said.
In order to achieve a functional cure for HIV/AIDS, broadly reactive polyfunctional viral-specific T cells were intended to be induced in the development of ICVAX, a therapeutic DNA vaccine candidate.
The goal of the current Phase I clinical trial of ICVAX, which is being conducted in Shenzhen, is to assess the immunogenicity and safety of ICVAX in a total of 45 stable HIV/AIDS patient volunteers receiving antiretroviral therapy.
