HK biotech firm Immuno Cure gears up for IPO with $12m funding

Photo credit: Shutterstock

Immuno Cure has raised US$12 million as part of its US$27 million series A round. The fundraise was led by the AEF Greater Bay Area Fund, managed by Gobi Partners GBA.

The biotech firm, which is based in the Hong Kong Science Park, will use the new funds to accelerate the development of DNA vaccines and antibodies, as well as prepare for a local IPO.

Funding details

• Funding amount: US$12,000,000
• Lead investor: AEF Greater Bay Area Fund
• Stage: Series A
• Source

Founded in 2015, Immuno Cure specializes in immunotherapies for cancers as well as inflammatory and infectious diseases. Immunotherapy is a treatment that activates the body’s immune system to find and destroy cancer cells.

The company currently has two DNA vaccine candidates, ICVAX and ICCOV, undergoing clinical trials.

Xia Jin, CEO of Immuno Cure, said the company plans to continue its R&D efforts on new vaccine tech “to enhance our arsenal against cancers and infectious diseases.”

In June, the company was awarded a grant of US$910,000 by the Hong Kong Science and Technology Parks Corporation to initiate a clinical trial with the University of Hong Kong. The trial aims to evaluate the effectiveness of a booster DNA vaccine against Covid-19.

More details