GC Green Cross US Affiliate Curevo Secures $110 Million Investment

Foundation Laid for Full-Scale Expansion of Phase 2 Clinical Trials for Shingles Vaccine

GC Green Cross announced on the 18th that its U.S. affiliate Curevo has successfully raised $110 million (approximately 158.7 billion KRW) in a Series B funding round to develop the shingles vaccine 'Amezosvatein (project name CRV-101)'.

This funding round was led by Medicxi, a European life sciences venture capital firm with extensive vaccine investment experience, with participation from OrbiMed, HBM Healthcare Investors, and Sanofi Ventures. The company explained that the successful fundraising was achieved through active follow-up investments from existing investors, including founding investor GC Green Cross, as well as the entry of numerous new investors.

George Simeon, CEO of Curevo, stated, "The investment will be used to expand the patient population in clinical Phase 2 studies that have shown successful results," adding, "We plan to recruit 640 participants, including adults aged 70 and older, starting mid-year to determine the optimal dose for Phase 3 clinical trials."

Dr. Moncef Slaoui, newly joined to Curevo’s board of directors, said, "I am pleased to participate in the development of an optimal shingles vaccine with excellent efficacy and superior tolerability through collaboration with Curevo," and evaluated, "Clinical data show that Curevo’s adjuvant technology plays a very important role."

Dr. Slaoui worked at GSK for nearly 30 years, contributing to the development of numerous vaccines including Shingrix (shingles), Cervarix (cervical cancer), Rotarix (rotavirus), and Synflorix (pneumococcal). During the COVID-19 pandemic, he participated in the development of the SARS-CoV-2 virus vaccine as the chief scientific advisor for the U.S. government's 'Operation Warp Speed,' which was launched to lead COVID-19 vaccine development.

Heun-chul Hur, CEO of GC Green Cross, said, "The founding purpose of Curevo was part of an effort to address the unmet demand for shingles vaccines in the elderly," and added, "By participating as a co-investor in this Series B round, we will continue to support Curevo."