LimmaTech Biologics Raises $37 Million Series A to Advance Its Pipeline of Vaccines Against Multidrug-Resistant Bacterial Infections
Schlieren (Zurich), October 9, 2023 – LimmaTech Biologics AG today announced the closing of a USD 37 million (CHF 33 million) Series A financing round co-led by Adjuvant Capital, AXA IM Alts, and the Novo Holdings REPAIR Impact Fund. The proceeds will enable LimmaTech to advance its proprietary technology platform and accelerate its pipeline of preclinical and clinical vaccine candidates against increasingly dangerous bacterial infections, including programs addressing shigellosis and gonorrhea. Later-stage clinical development efforts will focus on the company’s Shigella vaccine program, which LimmaTech developed as part of a joint collaboration with GSK and recently exclusively in-licensed. The company expects to announce preliminary results from the Shigella program’s ongoing Phase 2 clinical trial in the second half of 2023. As part of the company’s next phase of corporate growth, LimmaTech also welcomed seasoned biotech industry leader Dr. Franz-Werner Haas as CEO. Concurrent with the financing, Kabeer Aziz from Adjuvant Capital, Zina Affas Besse, PhD, from AXA IM Alts, and Camilla Petrycer Hansen, PhD from Novo Holdings will join LimmaTech’s Board of Directors. “Within the next decade, multiple bacterial infections will become untreatable due to antimicrobial resistance, which is already a significant burden on global health. By advancing our innovative technology platform, LimmaTech has the potential to simultaneously provide vaccine-induced protection against bacterial infections, mitigate the increasing risk of antibiotic resistance, and move toward the control of several highly transmissible pathogens,” said Dr. Franz-Werner Haas, CEO of LimmaTech. “Our Series A with backing from highly experienced and strategic institutional investors reflects the increasing value of our technology and our achievements to date. With this support and our team of proven experts in bacterial vaccine development and manufacturing, we look forward to providing life-changing vaccines to address a major global medical need.”