Yicura BioMed Closes First Tranche of Series B Led by Gobi Partners

Gobi Partners has led the first closing of a Series B financing for Yicura BioMed, a clinical-stage biotechnology company based at Hong Kong Science Park. The Hong Kong firm disclosed neither the amount raised nor the size targeted for the full round in its November 12 announcement.

Strategic investors from Wuxi and institutional investors from Hong Kong also joined the tranche. Yicura did not name them, did not disclose the ownership stake obtained by Gobi Partners, and gave no timetable for a final Series B close.

What will the money fund?

Yicura said it will use the proceeds to advance ICVAX, its therapeutic DNA vaccine candidate for HIV, and to accelerate immunotherapy programs for cancers across its vaccine and antibody pipelines. The company develops immunotherapies built on two platforms: a PD-1-enhanced DNA vaccine platform and an anti-Delta42PD1 antibody platform.

The company was formerly known as Immuno Cure. This week's financing extends Gobi Partners' backing beyond its 2023 Series A investment.

How far has ICVAX progressed?

ICVAX has completed a randomized, placebo-controlled Phase I clinical trial in people living with HIV who were receiving antiretroviral therapy. China's National Medical Products Administration approved the study.

Yicura described the trial's safety and immunogenicity results as favorable, but the financing announcement did not include the underlying clinical data. The company published that Phase I data in July.

Yicura plans to move ICVAX into a Phase II trial to evaluate efficacy and whether the candidate can support more durable immune control of HIV. A positive Phase I safety or immune-response result does not establish clinical efficacy — that question remains for the next-stage study. The company selected a contract research organization for the Phase II study in June but has not announced when patient enrollment will begin.

What's the investor's track record with the company?

Gobi Partners, headquartered in Hong Kong and Kuala Lumpur, says it manages $2 billion across more than 30 investment vehicles. Those figures, along with its stated portfolio and exit totals, are company-provided.

The firm's relationship with Yicura dates to 2023, when the company — then Immuno Cure — raised a $12 million first tranche of a planned $27 million Series A. The AEF Greater Bay Area Fund, managed by Gobi Partners GBA, led that round, which also supported the DNA vaccine and antibody programs.

The new capital arrives at the point where Yicura's lead candidate must prove it works, not just that it's safe — Phase II efficacy data will decide whether the Series B bet pays off.