ILIAS Biologics, Closes $20.6 Million Series B Financing; ILIAS Is Exosome-Based Therapeutics Company in South Korea; Company Has Technology for Loading Protein into Lumen of Exosomes

On September 28, 2020, ILIAS Biologics Inc., a leading exosome-based therapeutics company in Daejeon, South Korea, announced today that the Company has completed a Series B financing round of $20.6 million in South Korea. The initial investors from the Series A round, HB Investment, Timefolio Asset Management, and Daedeok Venture Partners joined this round with follow-on investment. The new institutional investors, including Asset One, Devsisters Ventures, Meritz Securities, Kiwoom Securities, Daishin Securities, Hanyang Securities/Yeolim Partners, and Genie Asset Management joined this round along with a small number of private investors. ILIAS has raised a total of $40.2 million of capital since its foundation in November 2015. This financing will support the continued development of ILIAS's proprietary EXPLOR® (Exosome engineering for Protein Loading via Optically Reversible protein–protein interaction) platform technology and the advancement of exosome-based therapeutics pipeline. ILIAS recently published promising preclinical data on its lead therapeutic candidate, ILB-202, in Science Advances, and secured a key exosome engineering patent from the United States Patent and Trademark Office (USPTO) in July. While the Company plans to submit the IND application to U.S. FDA and initiate the first-in-human clinical trial by the second half of 2021 targeting an undisclosed acute inflammatory disease, it is also in active discussion with multiple pharmaceutical companies for potential research collaborations.
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