GC Pharma to Establish Curevo - a Seattle-based New Company Dedicated to Development of New Vaccines
GC Pharma, IDRI and MIBR Bringing Together to Develop Innovative Vaccines
YONGIN, South Korea, May 20, 2018 /PRNewswire/ -- GC Pharma (formerly known as Green Cross Corporation) (KRX: 006280), a South Korean biopharmaceutical company, today announced the establishment of Curevo Inc. ("Curevo"). The newly established Seattle-based company's goal is to support GC Pharma's vaccine development activities.
GC Pharma builds a strategic collaboration and partnership with global health organizations IDRI (Infectious Disease Research Institute) and MIBR (Mogam Institute for Biomedical Research) to form the new company.
Curevo represents an important next step in GC Pharma's vaccine business. The new company will bring together GC Pharma's commercial scale vaccine development expertise and deep understanding of protein science with IDRI and MIBR's world class scientific expertise in vaccine, adjuvant and formulation development. Initial work will centre on advancing an innovative vaccine candidate against shingles to clinical stage.
"Establishing Curevo signals a crucial step forward in GC Pharma's long-standing dedication to prevent potentially serious diseases," said EC Huh, Ph. D. President of GC Pharma. "This exciting collaboration will increase the possibilities for immune-compromised populations to have better options."
"The bottom line is that this new collaboration will take advantage of the combined strength of these three organizations to more rapidly develop infectious disease vaccines and bring them to market," said Steve Reed, Ph. D., IDRI's President, CEO and Founder.
"MIBR scientists have been focusing on discovering novel cancer therapeutics and vaccines. Curevo creates an excellent conduit to achieve those goals by joining forces with GC Pharma and IDRI," said Senyon Teddy Choe, Ph. D., MIBR's President and Director.
Corey Casper, M. D., M. P. H. IDRI's Chief Medical Officer will lead the shingles project of the new company. Dr. Casper has more than 20 years of experience in designing, growing and sustaining internationally recognized programs in infection-related cancer, HIV, infection control and global oncology. He also has extensive experience leading multi-phased international clinical trials.
About GC Pharma
GC Pharma (formerly known as Green Cross Corporation) is a biopharmaceutical company that delivers life-saving and life-sustaining protein therapeutics and vaccines. Headquartered in South Korea, GC Pharma is the largest plasma protein product manufacturer in Asia and has been dedicated to quality healthcare solutions more than half a century. Green Cross Corporation updates its corporate brand as GC Pharma in early 2018. Green Cross Corporation remains the company's registered, legal name. For more information, please visit www.globalgreencross.com
As a non-profit global health organization, IDRI (Infectious Disease Research Institute) takes a comprehensive approach to combat infectious diseases, combining the high-quality science of a research organization with the product development capabilities of a biotech company to create new diagnostics, drugs and vaccines. Founded in 1993, IDRI has 125 employees headquartered in Seattle with nearly 100 partners/collaborators around the world. For more information, visit www.idri.org.
As a non-profit global research organization, MIBR (Mogam Institute for Biomedical Research) is engaged in basic drug discovery research to combat infectious diseases, cancer, and rare diseases. Founded in 1984, MIBR is headquartered in southern Seoul with a number of research collaborations ongoing with GC Pharma. For more information, visit www.mogam.re.kr.
This release includes forward-looking statements, which express the current beliefs and expectations of GC Pharma's management. Such statements speak only as of the date on which they are made and the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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