Private Equity News Asia – Immuno Cure Raises $27M to Develop Cancer, Infectious Disease Therapies
Hong Kong-based Immuno Cure BioTech has raised $27 million in Series A funding to develop new cancer, infectious disease, and inflammatory disease therapies. The round was led by Gobi Partners, with participation from Alibaba Hong Kong Entrepreneurs Fund’s AEF Greater Bay Area Fund.
Immuno Cure is developing a pipeline of antibody-based therapies that target key immune checkpoints. These checkpoints are proteins that help regulate the immune system, and they are often overactivated in cancer and other diseases. By targeting these checkpoints, Immuno Cure’s therapies aim to restore immune balance and promote tumor clearance or disease remission.
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The company’s lead product candidate is IC-001, an antibody that targets the PD-1 checkpoint. PD-1 is a protein that is expressed on T cells, and it helps to keep T cells from attacking healthy cells. IC-001 is currently in Phase I clinical trials for the treatment of advanced solid tumors.
Immuno Cure is also developing other antibody-based therapies that target the CTLA-4 checkpoint, the B7-H3 checkpoint, and the LAG-3 checkpoint. These checkpoints are all involved in regulating the immune system, and they are potential targets for new cancer therapies.
The $27 million Series A funding will be used to advance Immuno Cure’s pipeline of antibody-based therapies through clinical development. The company plans to initiate Phase II clinical trials for IC-001 in the second half of 2023.
“We are excited to partner with Gobi Partners and Alibaba Hong Kong Entrepreneurs Fund to advance our pipeline of antibody-based therapies,” said Dr. Raymond Kwong, CEO of Immuno Cure. “This funding will allow us to accelerate our clinical development programs and bring new therapies to patients with cancer and other diseases.”
Immuno Cure is headquartered in Hong Kong, with offices in China and the United States. The company was founded in 2017 by Dr. Raymond Kwong, Dr. Paul Tam, and Dr. Michael Chan.
About Immuno Cure BioTech
Immuno Cure BioTech is a clinical-stage biotechnology company developing antibody-based therapies for cancer, infectious disease, and inflammatory diseases. The company’s lead product candidate, IC-001, is an antibody that targets the PD-1 checkpoint and is currently in Phase I clinical trials for the treatment of advanced solid tumors. Immuno Cure is also developing other antibody-based therapies that target the CTLA-4 checkpoint, the B7-H3 checkpoint, and the LAG-3 checkpoint.
Immuno Cure is headquartered in Hong Kong, with offices in China and the United States. The company was founded in 2017 by Dr. Raymond Kwong, Dr. Paul Tam, and Dr. Michael Chan.
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