GHIF invested in EuBiologics, a small vaccine company at the time, with the goal of developing an oral cholera vaccine. With its investment, GHIF sought to help deliver a cholera vaccine that would cost less than $1 per dose.

This partnership helped lead to important innovations in the production of cholera vaccines – with impact projections estimating it will improve the lives of nearly 880,000 people who are at risk of contracting the illness. Thanks to support from GHIF, EuBiologics was able to develop Euvichol and Euvichol-Plus; oral vaccines that are able to be administered without an inconvenient and expensive buffering agent. With further support from UNICEF, GAVI, and the WHO, people in developing nations around the world were given increased access to this life-saving medical innovation.

The investment from GHIF allowed EuBiologics to grow their sales and distribution networks, and the company is now delivering over 20 million vaccines every year. When GHIF made its investments, there was a global shortage of Cholera vaccines, and the ongoing supply from EuBiologics is now a majority contributor to a global surplus.

GHIF exited its investment in EuBiologics after the firm went public on KOSDAQ, a South Korean stock exchange.