GC Biopharma Corp. Receives Commendation from the Chairman of the Korea Pharmaceutical and Bio-Pharma Manufacturers Association for Open Innovation Achievement

[Financial News] GC Biopharma Corp. has been recognized for its achievement in leading the global commercialization of its self-developed candidate substance through collaboration with external companies.
GC Biopharma Corp. announced on the 9th that it received the Chairman's Commendation from the Korea Pharmaceutical and Bio-Pharma Manufacturers Association at the '2026 Open Innovation Activation Merit Awards,' hosted by the Ministry of Health and Welfare (MOHW) and organized by the Korea Health Industry Development Institute.
This award was established for companies and individuals who have contributed to the creation of an open innovation ecosystem in the bio and health sectors through technological cooperation and joint research.
GC Biopharma Corp. was recognized for achieving results worth approximately 462.1 billion won by transferring its self-developed shingles vaccine candidate to its U.S. subsidiary, Curevo, and conducting global clinical development. This includes an advance payment of 308.7 billion won and milestone payments of 153.3 billion won.
In 2017, GC Biopharma Corp. established a U.S. subsidiary, Curevo, for the global development of a shingles vaccine candidate and transferred the candidate to it. Curevo subsequently increased the business value of the candidate by conducting clinical trials in the U.S. and attracting external investment.
In May of this year, global pharmaceutical company Eli Lilly and Company acquired Curevo, marking an example of the 'NewCo' model in which domestically developed technology leads to overseas clinical development and corporate acquisition. NewCo is a business model that establishes a separate company centered on a specific new drug candidate or technology to pursue external investment and global development.
GC Biopharma Corp. is reinvesting this achievement into the development of next-generation new drugs, while expanding its open innovation scope to include antibody-drug conjugates (ADCs), mRNA-LNP platforms, and rare diseases by collaborating with KANAPH Therapeutics, Abclon, Hanmi Pharmaceutical, and others.
"It is meaningful that the achievements created through global cooperation have been recognized," said Shin Su-kyung, Head of Medical Affairs at GC Biopharma Corp. "We will continue to expand cooperation with external partners to contribute to the development of the domestic bio-industry."

[email protected] Jeong Sang-hee Reporter