Schlieren - LimmaTech Biologics has raised 37 million US dollars as part of a Series A financing round. This should allow the company to finance the further development of its vaccine pipeline against multidrug-resistant bacterial infections.

LimmaTech Biologics has announced that it has closed a Series A financing round in the amount of 37 million US dollars. According to a press release, the financing round was led by Adjuvant Capital, AXA IM Alts and Novo Holdings REPAIR Impact Fund. With this fresh capital, the biotech company, which is headquartered in Schlieren in the canton of Zurich, will seek to accelerate the development of preclinical and clinical vaccines to combat increasingly dangerous bacterial infections. This includes programs against shigellosis (dysentery caused by the Shigella bacteria) and gonorrhea. LimmaTech is developing the Shigella vaccine program in collaboration with GSK (GlaxoSmithKline).

“Within the next decade, multiple bacterial infections will become untreatable due to antimicrobial resistance, which is already a significant burden on global health”, comments Franz-Werner Haas, CEO of LimmaTech, in the press release. “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”, he concludes.

Antibiotic resistance is responsible for around five million fatalities per year, according to the press release. Nearly one million of these deaths occur in children under the age of five, and these numbers are rising at an alarming rate.

Franz-Werner Haas has been CEO since July. In parallel with closing the financing round, Kabeer Aziz from Adjuvant Capital, Zina Affas Besse from AXA IM Alts and Camilla Petrycer Hansen from Novo Holdings are all set to join the Board of Directors at LimmaTech.

The Series A round is the first venture-backed financing round for LimmaTech since being spun off from the predecessor company GlycoVaxyn that was acquired by GSK in 2015. The company is headquartered at the Bio-Technopark Schlieren-Zürich. ce/gba

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