Illimis Therapeutics Secures $42 Million Series B Financing
Illimis Therapeutics, a biotechnology leader in developing innovative therapies for central nervous system (CNS) and immune-related diseases, has successfully concluded a Series B financing round, raising 58 billion KRW (approximately $42 million). This funding round saw robust participation from both existing and new investors, demonstrating unwavering support for the company's vision and innovative technology.
Among the notable participants were eight existing investors, including prominent names such as DSC Investment, Woori Venture Partners, Korea Development Bank, Aju IB Investment, Quad Asset Management, Company K Partners, GS Ventures, and Dayli Partners. These investors have affirmed their commitment, surrounded by a fresh cohort of ten new investors including LB Investment, TS Investment, Shinhan Venture Investment, SS Investment, Hana Ventures, Maple Investment Partners, A Ventures, IMM Investment, Schmidt, and the Industrial Bank of Korea.
The capital raised will significantly enhance Illimis's capacity to accelerate the development of GAIA-based therapeutics targeting Alzheimer's disease and a range of immune disorders. Additionally, this funding will help broaden the company's pipeline of potential blockbuster candidates, paving the way for future successes in an increasingly competitive pharmaceutical landscape.
Yohan Kim, Senior Managing Director at DSC Investment, emphasized the technological prowess of Illimis, stating, "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."
Moreover, Illimis has recently gained recognition through a selection for the '2025 Global Joint Research to Defeat Dementia' project led by South Korea's Ministry of Health and Welfare and the Korean Dementia Research Center. This collaboration secures an additional 2.2 million KRW (around $1.6 million) in funding over three years to develop effective Alzheimer's therapeutics, further solidifying the company's stature in international research collaborations.
In line with its strategic partnerships, Illimis has entered into a research collaboration with Eli Lilly and Company under the Catalyze360-ExploRD initiative. This partnership, aimed at advancing applications in neurodegenerative diseases, reflects Illimis’s commitment to tapping into global innovation ecosystems. Additionally, the company has fortified its presence in the pharmaceutical realm by winning the prestigious 2023 BMS Innovation Square Challenge and joining Johnson & Johnson's global incubator network, JLABS Singapore.
To navigate the complexities of its drug development journey, Illimis has established a Scientific Advisory Board (SAB) composed of highly respected experts in the field. Among them is Dr. Greg Lemke from the Salk Institute, renowned for his expertise in TAM biology, and Dr. Morgan Sheng from the Broad Institute, who previously led neuroscience at Genentech. This advisory board is tasked with providing strategic guidance throughout the research and development lifecycle, ensuring that Illimis remains at the forefront of scientific and clinical advancements.
CEO Sanghoon Park remarked, "This investment, alongside government grants and our collaboration with Lilly, will allow us to accelerate our efforts against clinically challenging diseases based on a deep understanding of TAM biology, establishing our global leadership in this field. Our focus will remain steadfast on innovative drug development centered around the GAIA platform, with the goal of providing tangible treatment options to patients worldwide through early collaboration models."
About Illimis Therapeutics
Illimis Therapeutics stands as a pioneering organization dedicated to developing groundbreaking solutions for CNS and immune disorders. With its proprietary GAIA (Gas6-mediated Anti-Inflammatory Adaptor) platform, Illimis is harnessing the power of TAM (Tyro3, Axl, Mer) receptor biology—an essential pathway for regulating inflammation and immune responses. As of the second half of 2025, the company's leading pipeline candidate, ILM01, is expected to enter the preclinical stage, with plans to submit an IND by the end of 2027. For more information about Illimis Therapeutics and its innovative programs, visit
illimistx.com/en.