Seoul-based Illimis Therapeutics has secured $42 million in a Series B funding round to fast-track the development of its GAIA platform, designed to combat Alzheimer’s disease and other neuroimmune disorders. The round saw robust participation from both existing and new investors, signaling strong confidence in the company’s science and clinical trajectory.

Founded by Sanghoon Park in 2021, Illimis targets chronic central nervous system conditions by leveraging TAM receptor biology. Its innovative chimeric fusion protein platform aims to reduce neuroinflammation without triggering antibody-related brain swelling - a major challenge with previous Alzheimer’s treatments.

A Platform Built on Precise Immune Control

The core of Illimis’s approach is its GAIA platform, which activates TAM receptors (Tyro3, Axl, Mer) to encourage microglia cells to clear disease-related proteins without provoking inflammation. This strategy stands in contrast to traditional antibody therapies that often trigger Amyloid-Related Imaging Abnormalities (ARIA) through Fc-receptor pathways.

With the new investment, Illimis will advance ILM-01 - its lead bispecific fusion protein - into preclinical trials expected in late 2025, and aim for an IND submission by the end of 2027. Simultaneously, funding will support the expansion of GAIA-based programs into broader neuroimmune and systemic immune disorder indications.

Strategic Partnerships that Amplify Impact

Illimis isn’t pursuing this journey alone. The company has formed a strategic collaboration with Eli Lilly’s Catalyze360-ExploR&D initiative, coupled with backing from the Korean government’s dementia research programs. They’ve also attracted support from a Scientific Advisory Board including experts like Dr. Greg Lemke and Dr. Morgan Sheng.

This ecosystem of partnerships and science-first investment reflects a deliberate strategy: combining cutting-edge academic insights with pharma-grade execution and global regulatory momentum.

Redefining What’s Possible in Biotech Platforms

Illimis’s success highlights a profound lesson for founders: game-changing innovation often hides behind deep-seated assumptions. Many in biotech believed CNS immunomodulation without harmful side effects was unattainable - or that immune response control in the brain had hit a wall. Illimis questioned that premise. By designing molecules that harness TAM pathways - and actively sidestepping Fc-triggered inflammation - they reframed the problem: not as one of improving antibodies, but fundamentally rethinking immune engagement in the brain.

That mindset - tackling the invisible walls of an industry head-on - can be transformative. Founders should ask not just “How can we make this better?” but “What foundational constraints do people accept as immutable?” The breakthrough lies in solving what others believed unsolvable. Illimis’s GAIA platform isn’t just another therapeutic candidate - it’s a reimagined biological pathway that challenges decades of dogma in neuroimmunology.

Funding to Fuel Clinical and Global Momentum

The $42 million funding will accelerate ILM-01’s preclinical milestones and explore additional indications across neuroimmune and immune-mediated diseases. It will also support IND preparation, GMP production infrastructure, and the expansion of R&D teams. With both veteran and new investors leading the round, Illimis is well-positioned to capitalize on momentum and deliver against a global market hungry for safer, more effective Alzheimer’s treatments .

Bringing a New Hope to Patients Worldwide

Alzheimer’s disease affects tens of millions globally, with few effective and tolerable therapies available. Illimis’s objective is not only to provide an alternative but to redefine treatment standards. By combining safety and efficacy through intelligent immune modulation, the startup strives to offer patients a truly next-generation solution.

Their data shows early-stage promise - advanced protein clearance in preclinical models without swelling or inflammatory markers. If translated clinically, GAIA-based drugs could break the recurring cycle of hope and setback that has characterized Alzheimer’s drug development.

Charting the Future of CNS Therapeutics

Illimis’s path forward includes forging deeper collaborations with pharmaceutical giants and research institutions, while preparing for global clinical trial entry. With upcoming milestones like regulatory filings, manufacturing scale-up, and expanded indication studies, the company is crafting a roadmap that blends ambition with disciplined execution.

Ultimately, Illimis is not just developing a single drug - it’s laying the foundation for a neuroimmune therapeutic class. For founders in biotech and beyond, Illimis’s journey illustrates how true platform shifts occur - not through incremental gains, but by challenging what seemed clinically impossible and rebuilding from first principles.