Singapore, July 15 -- South Korea-based startup Illimis Therapeutics has announced the closing of 58 billion KRW ($42 million) Series B financing to accelerate CNS and immune disease drug development via GAIA platform.

The Series B round saw strong participation from both existing and new investors, demonstrating high industry confidence inIllimis Therapeutics' vision and technology. Eight existing investors, including DSC Investment, Woori Venture Partners, Korea Development Bank, Aju IB Investment, Quad Asset Management, Company K Partners, GS Ventures, and Dayli Partners, reaffirmed their commitment. They were joined by ten new investors: LB Investment, TS Investment, Shinhan Venture Investment, S&S Investment, Hana Ventures, Maple In...