Curevo Secures $60 Million Investment Through Series A Funding

Curevo CI

[Asia Economy Reporter Chunhee Lee] GC Green Cross's U.S. subsidiary 'Curevo' plans to strengthen its new drug development efforts after successfully completing Series A funding.

GC Green Cross announced on the 11th that Curevo successfully raised a total of $60 million (approximately 72.1 billion KRW) through Series A funding conducted over the past seven months.

This investment was led by RA Capital Management, a global life sciences investment firm, with co-investors including Adjuvant Capital, Janus Henderson Investors, EN Investment, and GC Green Cross.

Curevo plans to accelerate clinical trials of the shingles vaccine 'CRV-101' using the raised funds. CRV-101 is designed to provide similar efficacy to existing shingles vaccines while reducing side effect burdens and eliciting an optimal immune response.

In the Phase 1 clinical trial conducted last year, CRV-101 showed no severe injection site adverse events of grade 3 or higher that would hinder normal activities, and the incidence of systemic adverse events of the same grade was 1.3%, demonstrating strong immunogenicity. According to the U.S. Centers for Disease Control and Prevention (CDC), approximately 1 in 6 people (16.6%) experienced side effects from currently approved shingles vaccines.

George Simon, CEO of Curevo, said, “We are pleased to work with global investors through this Series A funding,” adding, “The raised funds will be used for the Phase 2b clinical trial of CRV-101 involving 678 patients.”

Heo Euncheol, CEO of GC Green Cross, stated, “The establishment of Curevo was part of our efforts to address unmet needs for shingles vaccines for the elderly and chickenpox vaccines for children,” and added, “By participating as a co-investor in this Series A, we will continue to support Curevo.”

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