LimmaTech Biologics announced a second closing of its Series A financing, raising an additional $3 million from new investor Tenmile, bringing the total raised to $40 million (CHF 34,7 million).
The funding will further advance the company’s proprietary self-adjuvanting and multi-antigen vaccine technology platform and accelerate the preclinical and clinical development of its vaccine candidate pipeline designed to tackle the global antimicrobial resistance epidemic.
LimmaTech is committed to provide solutions against increasingly dangerous infections, with specific programs addressing Staphylococcus aureus Shigella and sexually transmitted diseases like gonorrhea. And the new funding round follows the initial Series A closing co-led by Adjuvant Capital, AXA IM Alts, and the Novo Holdings REPAIR Impact Fund.
KEY QUOTES:
“With LimmaTech’s robust and expanding pipeline of innovative vaccine candidates we are pursuing a technology-agnostic approach to provide the most effective, disease-specific vaccines for combating severe pathogens that are increasingly resistant to antibiotics. With the strong support from our investors, our focus for 2024 is to achieve key milestones with both our preclinical and our clinical vaccine candidates, starting with new clinical trials for our Staphylococcus aureus candidate in Phase 1 and Shigella vaccine candidate in Phase 2, as well as further developments of our proprietary technology platform.”
– Dr. Franz-Werner Haas, Chief Executive Officer of LimmaTech
“LimmaTech’s innovative approach and proven track record in vaccine development resonate strongly with our commitment to advancing health technology and addressing unmet medical needs. We are confident that, through our global network, we can support the company’s vaccine development efforts and contribute to a transformative change in infectious disease management.”
– Dr. Steve Burnell, Managing Director at Tenmile.
“It is exciting to so rapidly complete this second close bringing an additional high-value investor into the syndicate. We welcome Tenmile and thank all our Series A investors for their strategic and financial commitment.”
– Paul Wolfrom, Chief Financial Officer and Co-founder of LimmaTech
