Switzerland-based LimmaTech Biologics has closed a $37m Series A financing round to advance its pipeline of preclinical and clinical vaccine candidates against multidrug-resistant bacterial infections.
The financing round was co-led by Adjuvant Capital, AXA IM Alts, and the Novo Holdings REPAIR Impact Fund.
The biotechnology firm intends to use the funds to develop its proprietary technology platform.
It will also help expedite the development of several vaccine candidates against dangerous bacterial infections, including programmes addressing shigellosis and gonorrhoea.
The company’s Shigella vaccine programme, which LimmaTech developed in conjunction with GSK and recently solely in-licensed, will be the focus of later-stage clinical development activities.
The Swiss business plans to release the initial findings from the ongoing Phase 2 clinical study for the Shigella programme in the second half of 2023.
LimmaTech has recruited Franz-Werner Haas as CEO as part of the firm’s next phase of corporate growth.
Haas said: “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.
“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.”
The Series A is the company’s first venture-backed round of capital since it was separated from GlycoVaxyn, its predecessor business that British major GSK purchased in 2015.
LimmaTech’s technology platforms are based on E. coli expression systems. The platform enables the production of multivalent vaccines by combining carbohydrates and protein antigens with broad and new modes of action.
The biotechnology firm aims to develop and manufacture vaccines that counter infections caused by emerging antimicrobial resistance.
