Ilya Pharma has closed a EUR 5 million funding round with mainly existing shareholders including the EIC Fund participating, but also welcoming six new shareholders.

The funds are used to advance the company’s portfolio of three first-in-class immunotherapies for skin, gastro and lung indications to the next value adding milestones and facilitate more commercial and public partnerships. The portfolio includes ILP100-Topical for treatment surgical wounds in diabetic, prediabetic and obese patients especially at risk and diabetic ulcers, and ILP100-Oral to be evaluated as first-line-treatment for patients with immune mediated enterocolitis resulting from cancer treatment with checkpoint inhibitors.

Read more: Mia Phillipson – Pioneering immunotherapies

We have now shown the support from existing shareholders and invite new investors to invest on the same terms, we seek to top up the round with an additional EUR 5 million.”

“We are happy to be able to announce the completion of this transaction and to have the EIC Fund participate again. We have now shown the support from existing shareholders and invite new investors to invest on the same terms, we seek to top up the round with an additional EUR 5 million. I would also like to thank all investors for their support, cooperation and contributing to developing the company to our next stage of growth,” says Ilya Pharma CEO and Co-Founder Evelina Vågesjö.

2023 was a year of uncertainties for biotech which also affected us, we had to adjust to the new conditions and steer focus only on the commercial and value adding activities and milestones.

“2023 was a year of uncertainties for biotech which also affected us, we had to adjust to the new conditions and steer focus only on the commercial and value adding activities and milestones. Our offering is very clear, we have a solid validated platform and best-in-class data for each asset, and we seek to accelerate and expand the clinical programs with partners and collaborators for the drug candidates to reach as many patients as possible, and welcome new investors to the next stage of growth,” adds Vågesjö.

Read more: Evelina Vågesjö: ”I want to see my work go beyond the lab”

Photo of Evelina Vågesjö: Jenny Öhman/Nordic Life Science