Illimis Therapeutics Closes 58 billion KRW ($42 million) Series B Financing to accelerate CNS and Immune Disease Drug Development via GAIA Platform
The proceeds will be used to accelerate the development of GAIA-based Alzheimer's Disease therapeutics, expand its target indications to various immune disorders, and broaden its pipeline of potential blockbuster drug candidates. The company is actively pursuing early-stage collaborations with global pharmaceutical companies and research institutions to add value to internal programs.
"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," said Yohan Kim, Senior Managing Director at DSC Investment, who led this investment round and has also been appointed to the board of directors.
Jiwoong Chun, Managing Director at Woori Venture Partners and an active board member and investor since the company's inception, added, "Illimis is a prime example of a smart Korean biotech unlocking global markets with proprietary innovation and capital efficiency."
Illimis has recently been selected for the '2025 Global Joint Research to Defeat Dementia' led by the Ministry of Health and Welfare and the Korean Dementia Research Center, securing KRW 2.2 million ($1.6 million) in funding over three years, further validating its technological capabilities. This initiative aims to develop Alzheimer's therapeutics through global joint research leveraging the GAIA platform, positioning Illimis at the center of international collaboration.
Furthermore, in October 2024, Illimis partnered with Eli Lilly and Company (Lilly)'s Catalyze360-ExploR&D, a core pillar of external innovation at Lilly dedicated to deploying world-leading research and development capabilities and scientific know-how to accelerate partner science. Under this research collaboration, Illimis and Lilly have been cooperating to advance the platform construct for applications in neurodegenerative diseases. Illimis has also strengthened its global pharma collaborations by winning the 2023 BMS Innovation Square Challenge and joining Johnson & Johnson's global incubator network as a member company of JLABS Singapore in 2024.
To further enhance its drug development competitiveness, Illimis Therapeutics operates a Scientific Advisory Board (SAB). The SAB includes Dr. Greg Lemke, Emeritus Professor at the Salk Institute and a world-renowned expert in TAM Biology, and Dr. Morgan Sheng, a leading neuroscientist at the Broad Institute who previously served as Vice President of Neuroscience at Genentech. These experts provide strategic guidance across the entire R&D lifecycle, including pipeline development, candidate discovery, clinical trial design, etc., and play a pivotal role in strengthening Illimis Therapeutics' global partnerships.
"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," said Sanghoon Park, CEO of Illimis Therapeutics. "We will continue to focus on innovative new drug development centered around the GAIA platform and provide tangible treatment options to patients worldwide through early R&D collaboration models."
About Illimis Therapeutics
Illimis Therapeutics is a pioneering biotechnology company at the forefront of developing innovative therapies for challenging central nervous system (CNS) and immune-related diseases. The company's core strength lies in its proprietary GAIA (Gas6-mediated Anti-Inflammatory Adaptor) platform. This cutting-edge platform is designed to harness the therapeutic potential of TAM (Tyro3, Axl, Mer) receptor biology, a critical pathway involved in regulating inflammation and immune responses. The company's lead pipeline, ILM01 for the treatment of Alzheimer's Disease, is entering into the preclinical stage in the second half of 2025 and expecting to submit an IND by the end of 2027. For more information, visit https://illimistx.com/en.
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