GC Biopharma’s U.S. Affiliate Curevo Secures $110 Million Series B Funding

[Kim Saemi, Edaily Reporter] GC Biopharma Corp. announced on the 18th that its U.S. affiliate, Curevo Vaccine, has secured $110 million in Series B funding to advance the development of its shingles vaccine candidate, Amezzosbatein (CRV-101).

Curevo CI (Source=GC Biopharma Corp.)

This funding round was led by Medicxi, a European life sciences venture capital firm with extensive vaccine investment experience. OrbiMed, HBM Healthcare Investors, and Sanofi Ventures also participated. Existing investors, including founding investor GC Biopharma, and several new investors contributed to the successful fundraising.

The company stated, “Despite the prolonged downturn in biotech investment sentiment, this round saw the participation of top vaccine experts, which is highly unusual. This highlights the recognition of Curevo’s innovation and growth potential.”

Curevo CEO George Simeon commented, “The funds will be used to expand the patient cohort in the Phase 2 clinical trials of Amezzosbatein.” The company plans to recruit 640 participants, including adults over 70 years old, starting mid-year, to determine the optimal dosage for Phase 3 trials.

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Dr. Moncef Slaoui, who spent nearly 30 years at GlaxoSmithKline (GSK) and served as head of its vaccine division, has joined Curevo’s board as chairman. He has contributed to the development of several vaccines, including: Shingrix, Cervarix, Rotarix, Synflorix.

During the COVID-19 pandemic, Dr. Slaoui served as chief scientific advisor for Operation Warp Speed, the U.S. government initiative for rapid SARS-CoV-2 vaccine development.

Dr. Slaoui expressed his enthusiasm, stating, “I am delighted to collaborate with Curevo in developing the best-in-class shingles vaccine. The clinical data demonstrates that Curevo’s adjuvant technology plays a crucial role.”

GC Biopharma CEO Hur Eun-chul emphasized, “Curevo was founded to address the unmet need for shingles prevention in the elderly. By participating as a Series B co-investor, we reaffirm our commitment to supporting Curevo.”