Schlieren ZH – LimmaTech Biologics has raised a further 3 million dollars in a Series A financing round. The investor is the Australian company Tenmile. This brings the total revenue in this round to 40 million.
LimmaTech Biologics has raised a further 3 million dollars in its Series A financing round from Australian healthcare investor Tenmile, according to a press release. This brings the total revenue in this round to 40 million. In October, the Schlieren-based company received 37 million dollars. It came from Adjuvant Capital, AXA IM Alts and the Novo Holdings REPAIR Impact Fund.
With this funding the biotech company wants to accelerate the development of preclinical and clinical vaccines against increasingly dangerous bacterial infections. These include programs against shigellosis (bacterial dysentery) and gonorrhea.
LimmaTech wants to "develop the most effective, disease-specific vaccines to combat serious pathogens that are increasingly resistant to antibiotics," Franz-Werner Haas, Chief Executive Officer of LimmaTech, is quoted as saying.
"LimmaTech's innovative approach and proven track record in vaccine development aligns perfectly with our commitment to advancing healthcare technology and addressing unmet medical needs," said Steve Burnell, Managing Director at Tenmile, based in Perth, Australia. He is "confident that we can support the company's vaccine development through our global network and contribute to a profound change in the way we deal with infectious diseases."
The Series A is the first venture-funded financing round for LimmaTech since the spin-off from GlycoVaxyn, the predecessor company that was acquired by GSK in 2015. The company is based in the Bio-Technopark Schlieren-Zurich. ce/gba