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- LimmaTech Biologics
LimmaTech Biologics Acquisition, Valuation, Funding & Investors
LimmaTech Biologics was acquired by Eli Lilly for $780M in May 2026.
Cumulative funding LimmaTech Biologics raised
$40M
across 2 funding rounds
Key investors in LimmaTech Biologics
AXA Investment Managers
Adjuvant Capital
Repair Impact Fund
Tenmile
About LimmaTech Biologics
LimmaTech Biologics is a clinical-stage biotechnology company headquartered in Switzerland. It develops self-adjuvanting multi-antigen vaccines against antimicrobial-resistant infections like Staphylococcus aureus and Streptococcus pneumoniae. The proprietary platforms enable rapid adaptation to emerging pathogens, with ongoing trials for pneumonia and skin infection vaccines.
Founded
2015
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Valuation
$780M (acquired May 2026)
LimmaTech Biologics Acquisition
LimmaTech Biologics was acquired by Eli Lilly for $780M on 25 May 2026.
Before the acquisition LimmaTech Biologics had raised $40M across 2 funding rounds.
Eli Lilly agreed to acquire LimmaTech Biologics, a Swiss vaccine developer, for up to USD 780 million, as part of a set of three infectious-disease acquisitions Lilly announced on May 26, 2026. The USD 780 million figure includes an upfront payment plus additional payments tied to clinical and regulatory milestones; the exact upfront amount was not disclosed. LimmaTech is developing vaccines against bacterial pathogens with rising antimicrobial resistance, including Staphylococcus aureus, Neisseria gonorrhoeae and Chlamydia trachomatis; its lead candidate, LTB-SA7, is in Phase 1 development as an S. aureus vaccine. The deal is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 25 May 2026 | Strategic M&A | $780M |
Sources: investor.lilly.com, businesswire.com
LimmaTech Biologics Funding History
LimmaTech Biologics has raised a total of $40M across 2 funding rounds.
LimmaTech Biologics' first fundraising round was a $37M Series A in October 2023. The most recent completed round was a $3M Series A in February 2024.
LimmaTech Biologics funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Feb 2024 | Series A | Adjuvant Capital (lead); AXA Investment Managers (lead); Repair Impact Fund (lead); Tenmile | $3M | LimmaTech Biologics, a Swiss clinical-stage biotech company, develops vaccines against antimicrobial-resistant infections using its proprietary self-adjuvanting and multi-antigen vaccine technology platform. Its pipeline targets pathogens including Staphylococcus aureus, Shigella, gonorrhea, and sexually transmitted diseases. On February 1, 2024, LimmaTech announced a second closing of its Series A financing, raising an additional USD 3 million from new investor Tenmile, bringing the total Series A raised to USD 40 million. The initial Series A closing, announced earlier, raised USD 37 million co-led by Adjuvant Capital, AXA IM Alts, and Novo Holdings REPAIR Impact Fund. The funds support advancement of the vaccine platform and acceleration of preclinical and clinical development, including Phase 1 trials for Staphylococcus aureus and Phase 2 for Shigella in 2024. LimmaTech's leadership has expertise from predecessor GlycoVaxyn, acquired by GSK in 2015. Subsequent developments include a strategic partnership with Valneva for the Shigella vaccine candidate, with €10 million upfront and planned Phase 2 trials starting in late 2024, and CARB-X funding of USD 2.2 million for a gonorrhea vaccine. The company also received FDA Fast Track designation for its Staphylococcus aureus vaccine candidate LBT-SA7. |
| Oct 2023 | Series A | Adjuvant Capital (lead); AXA Investment Managers (lead); Repair Impact Fund (lead) | $37M | LimmaTech Biologics AG, a Swiss biotech company headquartered in Schlieren (Zurich), specializes in developing vaccines against multidrug-resistant bacterial infections using a proprietary self-adjuvanting and multi-antigen technology platform. The company was spun out from GlycoVaxyn, acquired by GSK in 2015, and focuses on programs targeting shigellosis (in collaboration with and recently in-licensed from GSK), gonorrhea, and other pathogens like Staphylococcus aureus. Its pipeline includes a Shigella vaccine in Phase 2 trials with preliminary results expected in late 2023, a gonorrhea vaccine preparing for clinical trials in 2025, and preclinical candidates. On October 9, 2023, LimmaTech closed a USD 37 million (CHF 33 million) Series A financing round co-led by Adjuvant Capital, AXA IM Alts, and Novo Holdings REPAIR Impact Fund. This marked the company's first venture-backed equity round since the spin-out. Proceeds will advance the technology platform, accelerate preclinical and clinical pipeline development, with emphasis on the Shigella program for later-stage trials. Concurrently, Dr. Franz-Werner Haas joined as CEO, and representatives from the lead investors—Kabeer Aziz (Adjuvant Capital), Zina Affas Besse (AXA IM Alts), and Camilla Petrycer Hansen (Novo Holdings)—joined the Board of Directors. A subsequent Series A extension in early 2024 raised an additional USD 3 million from Tenmile, bringing total funding to approximately USD 40 million, to further support vaccine development against antimicrobial resistance. The company aims to address global needs, as antibiotic resistance causes around five million deaths annually, including nearly one million in children under five. |
Who has invested in LimmaTech Biologics?
4 investors have backed LimmaTech Biologics across its funding rounds, including AXA Investment Managers, Adjuvant Capital, Repair Impact Fund and Tenmile.
Lead investors include Adjuvant Capital, AXA Investment Managers and Repair Impact Fund.
LimmaTech Biologics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Oct 2023 | ||
| 2 | Lead | Oct 2023 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialInvestments by LimmaTech Biologics
LimmaTech Biologics has invested in 1 company to date.
Latest investment by LimmaTech Biologics was on November 5th 2021. LimmaTech Biologics invested in GlycoEra in their $49M Series A round.
Latest Investments by LimmaTech Biologics
| Description | GlycoEra is a Boston-based biotech firm founded in 2022 that engineers glycan-modified degraders for autoimmune disorders using its CustomGlycan platform. The lead candidate GE8820 selectively eliminates IgG4 autoantibodies in pemphigus and MuSK myasthenia gravis via lysosomal routing, sparing healthy antibodies. Preclinical data show 90 percent clearance in mouse models, with IND filing planned for 2025 targeting membranous nephropathy trials. |
| HQ Country | |
| HQ City | Zurich |
| Deal Date | 5 Nov 2021 |
| Round | Series A |
| Raised | $49M |
| Investors | 5AM Ventures; Roche Venture Fund; Sofinnova Partners |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all LimmaTech Biologics investments and their VC round multiples. Start Free Trial | |
LimmaTech Biologics Competitors
LimmaTech Biologics competitors include listed companies like Genfit, Scribe Therapeutics and Supriya Lifescience, and private ones like Immunai, Formation Bio and BrightInsight.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $75M | ($98M) | $692M | 7.9x | ||
| Publicly listed | $51M | ($21M) | $608M | - | ||
| Publicly listed | $84M | $31M | $754M | 7.9x | ||
| Private | - | - | $750M | - |
LimmaTech Biologics Public Comps
LimmaTech Biologics is no longer listed, but its public comps include Aarti Pharmalabs, Annexon, Guizhou Sanli, Aclaris Therapeutics, Pharming, Gyre Therapeutics, DBV Technologies, Design Therapeutics, China TCM and Supriya Lifescience.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $186M | $40M | 4.6x | - | 21.4x | - | |||
| - | ($214M) | - | - | (2.8x) | (2.7x) | |||
| $254M | $22M | 3.4x | - | 38.4x | - | |||
| $8M | ($72M) | 89.9x | 108.5x | (9.8x) | - | |||
| $376M | $34M | 1.9x | 1.9x | 21.5x | 20.5x | |||
| $117M | $15M | 6.4x | 6.7x | 49.2x | (19.3x) | |||
| - | ($144M) | - | 129.8x | (4.1x) | (4.1x) | |||
| - | ($79M) | - | - | (7.6x) | - | |||
This data is available for Pro users. Sign up to see all LimmaTech Biologics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about LimmaTech Biologics
| When was LimmaTech Biologics founded? | LimmaTech Biologics was founded in 2015. |
| Where is LimmaTech Biologics headquartered? | LimmaTech Biologics is headquartered in Zurich, Switzerland. |
| Is LimmaTech Biologics publicly listed? | No, LimmaTech Biologics was acquired by Eli Lilly in May 2026. |
| Who acquired LimmaTech Biologics? | LimmaTech Biologics was acquired by Eli Lilly in May 2026. |
| How much was LimmaTech Biologics acquired for? | LimmaTech Biologics was acquired for $780M in May 2026. |
| How much funding has LimmaTech Biologics raised? | LimmaTech Biologics has raised $40M across 2 funding rounds. |
| What was LimmaTech Biologics' last funding round? | LimmaTech Biologics' last funding round was a $3M Series A in February 2024, led by Adjuvant Capital, AXA Investment Managers and Repair Impact Fund. |
| Who are LimmaTech Biologics' investors? | LimmaTech Biologics' investors include Adjuvant Capital, AXA Investment Managers, Repair Impact Fund and Tenmile. |
| Which companies are comparable to LimmaTech Biologics? | Companies comparable to LimmaTech Biologics include Immunai, Formation Bio, Genfit, Scribe Therapeutics, Supriya Lifescience and BrightInsight. |
| How many companies has LimmaTech Biologics invested in? | LimmaTech Biologics has invested in 1 company, including GlycoEra. |
| What was LimmaTech Biologics' last investment? | In November 2021, LimmaTech Biologics invested in GlycoEra's $49M Series A alongside 5AM Ventures, Roche Venture Fund and Sofinnova Partners. |
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