Illimis and Lilly have been cooperating to advance the platform construct for neurodegenerative disease applications. Credit: meeboonstudio/Shutterstock.

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.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

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.”

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

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.

Pharmaceutical Technology Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Pharmaceutical Technology Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now