First equity funding for LimmaTech Biologics

Co-led by Adjuvant Capital, AXA IM Alts, and the Novo Holdings REPAIR Impact Fund, this Series A investment round is the first venture-backed investment round for LimmaTech since it was spun out of GlycoVaxyn in 2015. The proceeds will enable LimmaTech to advance its proprietary technology platform and accelerate its pipeline of preclinical and clinical vaccine candidates against increasingly dangerous bacterial infections.

There is an increasing threat of global infections due to emerging antimicrobial resistance, responsible for approximately 5 million deaths annually. While antibiotic treatments have been effective, inappropriate or excessive use of antibiotics has caused bacteria to develop natural resistance to these agents. Currently, half of the approximately 700,000 annual gonorrhea infections in the U.S. are already resistant to antibiotics, and there is a real threat of gonorrhea soon becoming untreatable. This development is also projected for a growing number of other infections, such as Shigella sp., in both developed and low- and middle-income countries.

LimmaTech’s proprietary clinical pipeline comprises an innovative vaccine against gonorrhoea based on a set of novel and highly conserved antigens. Its strategy is to overcome the natural immune evasion mechanisms of Neisseria gonorrhoeae, and to be globally efficacious. The vaccine is based on a versatile platform that allows the company to combine multiple antigens in a single production batch whilst also incorporating an optimised adjuvant. Clinical trials are anticipated to begin the first clinical trial in 2025.

In parallel, Limmatech has later-stage clinical developments focused on the company’s Shigella vaccine program, which LimmaTech developed as part of a joint collaboration with GSK and recently exclusively in-licensed. The company expects to announce preliminary results from the Shigella program’s ongoing Phase 2 clinical trial in the second half of 2023.

New CEO and Board members
For its next growth phase, LimmaTech has welcomed seasoned biotech industry leader Dr. Franz-Werner Haas as CEO. “…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,” said Franz-Werner Haas, CEO of LimmaTech. “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.”

Additionally, the company has appointed Kabeer Aziz from Adjuvant Capital, Zina Affas Besse, PhD, from AXA IM Alts, and Camilla Petrycer Hansen, PhD from Novo Holdings to its Board of Directors.

(Press release/RAN)