Illimis Therapeutics has successfully closed a Series B financing round, securing approximately 58 billion KRW ($42 million) to enhance its drug development efforts targeting central nervous system (CNS) and immune diseases. This funding round, announced on July 14, 2025, reflects strong confidence from both existing and new investors in the company’s innovative GAIA platform.
The significant participation of eight returning investors, including DSC Investment, Woori Venture Partners, and Korea Development Bank, showcases the backing Illimis has within the biotech community. They were joined by ten new investors, among them LB Investment and Shinhan Venture Investment, further strengthening Illimis’ financial foundation.
Proceeds from this financing will be allocated towards accelerating the development of therapeutics for Alzheimer’s Disease and expanding the treatment pipeline to include various immune disorders. Illimis is actively seeking early-stage collaborations with global pharmaceutical companies and research institutions, enhancing the value of its internal programs.
Yohan Kim, Senior Managing Director at DSC Investment, stated, “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.” Kim has also been appointed to Illimis’ board of directors.
Strengthening Global Collaborations and Research Initiatives
Illimis Therapeutics recently received a notable boost by being selected for the 2025 Global Joint Research to Defeat Dementia initiative, led by the South Korean Ministry of Health and Welfare. This program will provide 2.2 million KRW ($1.6 million) in funding over three years to support the development of Alzheimer’s therapeutics through international collaboration utilizing the GAIA platform.
The company has also established a partnership with Eli Lilly and Company, specifically through Lilly’s Catalyze360-ExploR&D program, which focuses on advancing research and development capabilities to accelerate partner projects. This collaboration is poised to enhance the development of the GAIA platform for applications in neurodegenerative diseases.
In addition to these initiatives, Illimis strengthened its global presence by winning the 2023 BMS Innovation Square Challenge and joining the Johnson & Johnson global incubator network as a member of JLABS Singapore in 2024. These achievements underscore Illimis’ commitment to fostering innovation and expanding its reach within the international biotech landscape.
To further bolster its development efforts, Illimis established a Scientific Advisory Board (SAB) comprising distinguished experts in the field. Members include Dr. Greg Lemke, Emeritus Professor at the Salk Institute, and Dr. Morgan Sheng, a leading neuroscientist at the Broad Institute. Their strategic guidance spans the entire research and development lifecycle, enhancing Illimis’ ability to forge valuable global partnerships.
Future Directions and Commitment to Innovation
Sanghoon Park, CEO of Illimis Therapeutics, emphasized the importance of this funding and collaboration in advancing the company’s mission. “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,” Park stated.
Illimis continues to focus on innovative drug development centered around the GAIA platform, with its leading candidate, ILM01, aimed at treating Alzheimer’s Disease expected to enter the preclinical stage in the second half of 2025. The company plans to submit an Investigational New Drug (IND) application by the end of 2027.
Founded with a vision to address challenging CNS and immune-related diseases, Illimis Therapeutics is at the forefront of biotechnology, leveraging its proprietary GAIA platform to unlock new therapeutic potentials. For more information, visit https://illimistx.com/en.