Funds Raised: $42 Million by Illimis Therapeutics for the advancement of drug development in Central Nervous System and Immune Diseases
Illimis Therapeutics, a South Korean biotech company, has announced a significant Series B funding round of 58 billion KRW ($42 million), a considerable boost to its ongoing efforts to conquer diseases with high unmet clinical needs, particularly those related to neurodegenerative diseases.
The investment round saw participation from both existing and new investors, including Woori Venture Partners and DSC Investment. Yohan Kim, Senior Managing Director at DSC Investment, led this round and was appointed to the board of directors.
Sanghoon Park, CEO of Illimis Therapeutics, expressed his excitement about the investment, stating that it will accelerate their efforts to make a difference in the lives of those affected by these debilitating conditions. He further added that the funding will enable Illimis to establish global leadership in TAM biology and expand into various immune disorders, broadening the pipeline of drug candidates.
The funding will also be used to accelerate the development of their GAIA-based Alzheimer's Disease therapeutics. Illimis' differentiated platform technology is expected to emerge as a next-generation treatment option for neuro-immune diseases with high unmet medical needs.
Illimis has strengthened its global pharma collaborations, having won the 2023 BMS Innovation Square Challenge and joined Johnson & Johnson’s JLABS Singapore in 2024. This collaboration is expected to bring innovative new drug development opportunities centered around the GAIA platform.
In addition, Illimis was 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.
The company also partners with Eli Lilly and Company's Catalyze360-ExploR&D, a collaboration that was established in October 2024 to advance their platform for neurodegenerative diseases.
Illimis maintains a Scientific Advisory Board (SAB) that includes renowned experts like Dr. Greg Lemke (Salk Institute) and Dr. Morgan Sheng (Broad Institute). With these collaborations and expert guidance, Illimis is actively pursuing early-stage collaborations with global pharmaceutical companies and research institutions to further its mission.
However, the specific institutes or research organizations they partnered with in the past months are not mentioned in the provided search results. Despite this, the future looks promising for Illimis Therapeutics as they continue to make strides in the field of neurodegenerative diseases.
Jiwoong Chun, Managing Director at Woori Venture Partners and an active board member and investor since the company's inception, has expressed confidence in Illimis' ability to unlock global markets with proprietary innovation and capital efficiency. With this new funding, Illimis is well-positioned to make a significant impact in the fight against neurodegenerative diseases.
