Curevo Raises US$60mn
GC Pharma announced on Feb. 11 that its U.S. subsidiary Curevo has succeeded in attracting a total of US$60 million (about 70 billion won) from investors.
The investment was led by RA Capital Management, an investment company specializing in global life science companies. GC Pharma participated as joint investors along with Executive Capital, Janus Henderson Investors and EN Investment.
Curevo plans to speed up clinical trials of shingles vaccine CRV-101 with the investment funds. CRV-101 is designed to have an optimal immune response with reduced side effects.
“We are happy to work with global investors,” said George Simeon, CEO of Curevo. The funds raised will be used for a head-to-head trial of CRV-101, which will be conducted on 678 patients.
“The establishment of Curevo was part of our efforts to address unmet needs for vaccines for the elderly’s shingles and children’s chickenpox,” said Heo Eun-chul, CEO of GC Pharma. “We will continue to support Curevo.”