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Hong Kong's Immuno Cure raises $27m

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Hong Kong’s Immuno Cure BioTech, a vaccine and antibodies developer focused on cancers, inflammatory and infectious diseases, has raised USD 27m in Series A funding featuring Gobi Partners.

It comes with confirmation of a USD 12m tranche featuring Alibaba Hong Kong Entrepreneurs Fund’s AEF Greater Bay Area Fund, which is managed by Gobi. Established in 2016, Gobi’s GBA unit is the sole GP of both Alibaba Hong Kong Entrepreneurs Fund and the AEF Greater Bay 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-19 booster vaccine candidate, in phase-two trials in Hong Kong. The fresh capital will be used to advance product development and prepare for a Hong Kong IPO.

“Infectious diseases are a universal issue that has threatened global public health for many years and has further been highlighted by COVID-19,” Chibo Tang, a managing partner at Gobi GBA, said in a statement.

“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.”

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