LimmaTech Biologics has announced the close of a second round of its Series A financing, securing an additional $3m from new investor Tenmile for vaccine technology development.
The company will use this funding to advance its self-adjuvanting and multi-antigen vaccine technology platform.
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LimmaTech will also utilise the additional funds to expedite the preclinical and clinical development of its vaccine candidate pipeline, which aims to address the growing threat of antimicrobial resistance globally.
The latest investment brings the funds raised by the company to $40m.
Tenmile managing director Dr Steve Burnell stated: “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.”
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By GlobalDataThe company’s commitment to combat dangerous infections is underscored by specific programmes targeting staphylococcus aureus, shigella and sexually transmitted diseases such as gonorrhoea.
The new development comes after the company secured funds in an initial Series A funding round jointly led by AXA IM Alts, Adjuvant Capital and the Novo Holdings REPAIR Impact Fund.
LimmaTech’s vaccine platform is being utilised in conjunction with disease-specific vaccine approaches to prevent microbial infections that are becoming increasingly difficult to treat.
LimmaTech CEO Dr Franz-Werner Haas stated: “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 I and shigella vaccine candidate in Phase II, as well as further developments of our proprietary technology platform.”
