Hong Kong's Immuno Cure raises $27m

Friday, July 28, 2023

(AVCJ by Justin Niessner) - Hong Kong’s Immuno Cure BioTech, a vaccine and antibodies developerfocused on cancers, inflammatory and infectious diseases, has raisedUSD 27m in Series A funding featuring Gobi Partners.

It comes with confirmation of a USD 12m tranche featuring Alibaba Hong Kong EntrepreneursFund’s AEF Greater Bay Area Fund, which is managed by Gobi. Established in 2016, Gobi’sGBA unit is the sole GP of both Alibaba Hong Kong Entrepreneurs Fund and the AEF GreaterBay Area Fund.

Immuno Cure has two DNA vaccine candidates currently in clinical trials. They include ICVAX,a HIV/AIDS candidate in phase-one trials in Shenzhen, and ICCOV, a preventive COVID-19booster vaccine candidate, in phase-two trials in Hong Kong. The fresh capital will be used toadvance product development and prepare for a Hong Kong IPO.

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