Illimis Therapeutics has completed a Series B funding round, securing $42m to expedite the development of its Gas6-mediated Anti-Inflammatory Adaptor (GAIA)-based Alzheimer’s disease therapeutics.
The round saw participation from eight existing investors, including Woori Venture Partners, DSC Investment, Korea Development Bank and Quad Asset Management. Joining them were 10 new supporters such as LB Investment and TS Investment.
The company also plans to utilise these funds to extend its research into immune disorders and enhance its portfolio with more potential blockbuster drugs.
Its GAIA platform aims to leverage the therapeutic potential of Tyro3, Axl, Mer (TAM) receptor biology, which plays a vital role in modulating inflammation and immune responses.
Illimis Therapeutics CEO Sanghoon Park stated: “This investment, government grants and partnership with Lilly will enable us to accelerate our efforts to conquer diseases with high unmet clinical needs based on a comprehensive understanding of TAM biology and establish global leadership in TAM biology.
“We will continue to focus on innovative new drug development centred around the GAIA platform and provide tangible treatment options to patients worldwide through early R&D [research and development] collaboration models.”
DSC Investment senior managing director Yohan Kim stated: “In the evolving landscape of new drug development where the limitations of existing medications are continually being overcome, Illimis’ differentiated platform technology is expected to emerge as a next-generation treatment option for neuro-immune diseases with high unmet medical needs.”
In October 2024, the company collaborated with Lilly Catalyze360-ExploR&D, part of Lilly’s commitment towards external innovation, focusing on neurodegenerative disease applications.
Under this partnership, the companies have been cooperating to advance the platform construct for neurodegenerative disease applications.
“Illimis secures funding for GAIA-based Alzheimer’s therapeutics” was originally created and published by Pharmaceutical Technology, a GlobalData owned brand.
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