Illimis Therapeutics: $42 Million Series B Raised For Advancing CNS And Immune Disease Drug Development

By Amit Chowdhry • Jul 14, 2025

Illimis Therapeutics announced it closed 58 billion KRW (approximately $42 million) in Series B funding. The round saw strong participation from both existing and new investors, signaling high confidence in the company’s vision and technology.

Illimis is actively pursuing early-stage collaborations with global pharmaceutical companies and research institutions. The company was recently 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.

In October 2024, Illimis partnered with Eli Lilly and Company’s Catalyze360-ExploR&D to advance their platform for neurodegenerative diseases. Illimis has also strengthened its global pharma collaborations by winning the 2023 BMS Innovation Square Challenge and joining Johnson & Johnson’s JLABS Singapore in 2024.

To further boost its drug development competitiveness, Illimis Therapeutics maintains a Scientific Advisory Board (SAB) that includes renowned experts like Dr. Greg Lemke (Salk Institute) and Dr. Morgan Sheng (Broad Institute), who provide strategic guidance across the R&D lifecycle and help strengthen global partnerships.

How the funding will be used: The proceeds will accelerate the development of their GAIA-based Alzheimer’s Disease therapeutics, expand into various immune disorders, and broaden their pipeline of drug candidates.

KEY QUOTES:

“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.”

Yohan Kim, Senior Managing Director at DSC Investment, who led this investment round and has also been appointed to the board of directors

“Illimis is a prime example of a smart Korean biotech unlocking global markets with proprietary innovation and capital efficiency.”

Jiwoong Chun, Managing Director at Woori Venture Partners and an active board member and investor since the company’s inception

“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.”

Sanghoon Park, CEO of Illimis Therapeutics