Zurich-based LimmaTech Biologics AG, a clinical-stage biopharmaceutical company, announced that it has secured $37M in a Series A round of funding.
The investment was co-led by Adjuvant Capital, AXA IM Alts, and the Novo Holdings REPAIR Impact Fund.
Antimicrobial Resistance (AMR) is a severe global health crisis, causing around 5 million deaths annually. Children under five years old account for almost one million of these deaths, with these numbers increasing rapidly.
Historically, antibiotics have effectively treated bacterial infections, but their inappropriate and excessive use has led to bacteria developing natural resistance. Consequently, once easily treatable infections have become nearly impossible to cure.
For instance, half of the 700,000 annual gonorrhoea infections in the US are already antibiotic-resistant, posing a significant threat. Similar concerns extend to infections like Shigella, which causes 450,000 infections in the US and 700,000 deaths globally each year, especially affecting children.
The development of vaccines targeting multidrug-resistant pathogens is crucial to combat this deadly global health threat, given the slow pace of discovering new antibiotics compared to the rapid growth of AMR.
Founded in 2015, LimmaTech Biologics, a spin-off from GlycoVaxyn following its acquisition by GSK, specialises in developing advanced vaccines to combat life-threatening diseases.
With a focus on addressing the rising global threat of infections due to emerging antimicrobial resistance, including diseases like gonorrhoea, LimmaTech is advancing its proprietary clinical pipeline.
LimmaTech Biologics says it will use the funds to advance its technology platform and speed up the development of preclinical and clinical vaccine candidates targeting bacterial infections like shigellosis and gonorrhoea.
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