Illimis Therapeutics Secures $42M in Series B Funding

The company has raised $42 million in Series B funding to support its research and growth.

Many investors took part in the funding round, showing strong support for Illimis Therapeutics.

Some of the key backers include DSC Investment, Korea Development Bank, Woori Venture Partners, GS Ventures, Hana Ventures, and the Industrial Bank of Korea, along with several other investment firms.

The company plans to use the money to speed up the development of its GAIA-based treatment for Alzheimer's disease.

It also wants to explore treatments for other immune-related diseases and grow its list of promising new drug candidates.

CEO Sanghoon Park leads Illimis Therapeutics. The company focuses on creating treatments for tough brain-related and immune system diseases.

It uses a special technology called GAIA, which stands for Gas6-mediated Anti-Inflammatory Adaptor.

This platform works by using the TAM receptors (Tyro3, Axl, Mer), which help control inflammation and how the immune system responds.

The company's main drug candidate, ILM01, is being developed to treat Alzheimer's Disease. It will enter the preclinical testing stage in the second half of 2025, and the company plans to submit an IND (Investigational New Drug) application by the end of 2027.

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