LimmaTech Biologics today announced a second closing of its Series A financing, raising an additional USD 3 million from new investor Tenmile, bringing the total raised to USD 40 million (CHF 34,7 million). The funding will be utilized to further advance the company's proprietary self-adjuvanting and multi-antigen vaccine technology platform and to accelerate the preclinical and clinical development of its vaccine candidate pipeline designed to tackle the global antimicrobial resistance epidemic. LimmaTech is committed to providing solutions against increasingly dangerous infections, with specific programs addressing Staphylococcus aureus, Shigella,andsexually transmitted diseases like gonorrhea. The new funding follows the initial Series A closing co-led by Adjuvant Capital, AXA IM Alts, and the Novo Holdings REPAIR Impact Fund.
"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," said Dr. Franz-Werner Haas, Chief Executive Officer of LimmaTech."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 candidatein Phase 1and Shigella vaccine candidate in Phase 2, as well as further developments of our proprietary technology platform."
"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," stated Dr. Steve Burnell, Managing Director at Tenmile.
Paul Wolfrom, Chief Financial Officer and Co-founder of LimmaTech added: "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."
About LimmaTech Biologics
LimmaTech Biologics is at the forefront of combating the global antimicrobial resistance epidemic based on its unparalleled track record in vaccine technology and clinical candidate development. The company is leveraging its proprietary self-adjuvanting and multi-antigen vaccine platform alongside additional disease-specific vaccine approaches to prevent increasingly untreatable microbial infections. With decades of expertise and an expanding, robust pipeline, the LimmaTech team is dedicated to generating protective solutions to deliver transformative value worldwide. For more information, please visit www.lmtbio.com.
About Tenmile
Tenmile is a dedicated health technology investment business owned by Andrew and Nicola Forrest. Tenmile can act fast, investing without the constraints of many venture capital funds. Laser focused on supporting and building early-stage companies, we have the know-how, networks and evergreen capital to provide support throughout the journey from idea to commercialisation. With the ability to make strategic investments internationally, we seek to address unmet needs in healthcare and scale an Australian health science and technology sector of global significance. For more information on Tenmile, please see https://www.tenmile.com/
View source version on businesswire.com: https://www.businesswire.com/news/home/20240201709594/en/
Contacts:
LimmaTech Biologics:
Franz-Werner Haas, CEO
E-Mail: media@lmtbio.com
For media inquiries:
Gretchen Schweitzer or Alexander Siebert
Trophic Communications
Phone: +49 1511 0619905
Email: limmatech@trophic.eu
