Illimis Therapeutics Secures $42m for Alzheimer's Disease Therapeutics Development

Illimis Therapeutics has secured $42m in a Series B funding round to accelerate the development of its GAIA-based Alzheimer's disease therapeutics. The funds will also be used to expand research into immune disorders and enhance its portfolio with potential blockbuster drugs. The company's GAIA platform leverages TAM receptor biology to modulate inflammation and immune responses.

Illimis Therapeutics, a pioneering biotechnology company focused on developing innovative therapies for central nervous system (CNS) and immune-related diseases, has successfully closed a $42 million Series B funding round. The funding will significantly accelerate the development of its GAIA-based Alzheimer's disease therapeutics and expand research into various immune disorders. The company's GAIA platform leverages the therapeutic potential of TAM (Tyro3, Axl, Mer) receptor biology, which plays a critical role in modulating inflammation and immune responses.

The Series B round saw strong participation from both existing and new investors. Eight existing investors, including DSC Investment, Woori Venture Partners, Korea Development Bank, Aju IB Investment, Quad Asset Management, Company K Partners, GS Ventures, and Dayli Partners, reaffirmed their commitment. They were joined by ten new investors, such as LB Investment, TS Investment, Shinhan Venture Investment, S&S Investment, Hana Ventures, Maple Investment Partners, A Ventures, IMM Investment, Schmidt, and Industrial Bank of Korea [1].

The proceeds from the funding round 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 its internal programs.

The funding comes at a critical time for Illimis Therapeutics, which 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. This initiative aims to develop Alzheimer's therapeutics through global joint research leveraging the GAIA platform, positioning Illimis at the center of international collaboration [2].

In October 2024, Illimis Therapeutics 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.

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.

"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 [1].

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" [1].

Sanghoon Park, CEO of Illimis Therapeutics, 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 centered around the GAIA platform and provide tangible treatment options to patients worldwide through early R&D collaboration models" [1].

Illimis Therapeutics' lead pipeline, ILM01 for the treatment of Alzheimer's Disease, is entering the preclinical stage in the second half of 2025 and expecting to submit an IND by the end of 2027. The company's core strength lies in its proprietary GAIA platform, which is designed to harness the therapeutic potential of TAM receptor biology.

References:
[1] https://www.biospace.com/press-releases/illimis-therapeutics-closes-58-billion-krw-42-million-series-b-financing-to-accelerate-cns-and-immune-disease-drug-development-via-gaia-platform
[2] https://www.pharmaceutical-technology.com/news/illimis-funding-alzheimers-therapeutics/