- LimmaTech’s self-adjuvating and multi-antigen vaccine platform addresses common bacterial infections that currently cannot be prevented
- Lead program focuses on Staphylococcus aureus infection, a common complication of surgical procedures
SCHLIEREN (ZURICH), Switzerland--(BUSINESS WIRE)--LimmaTech Biologics AG, a Swiss clinical-stage biotech company developing vaccines for the prevention of life-threatening diseases, today announced entry into a definitive agreement to be acquired by Lilly.
LimmaTech is developing vaccines against bacterial pathogens for which rising antimicrobial resistance is steadily closing therapeutic options, including Staphylococcus aureus, Neisseria gonorrhoeae, and Chlamydia trachomatis. The company's proprietary platform is designed to generate broad, durable immune responses against complex bacterial targets by targeting the toxins and superantigens that drive disease. LimmaTech's lead program, LTB-SA7, is in Phase 1 development as a vaccine against S. aureus, the leading cause of surgical-site infection. The company's preclinical pipeline is pursuing additional bacterial pathogens, including those that drive infertility and other long-term consequences of infection that fall disproportionately on women. A vaccine-led prevention strategy could change the trajectory of diseases that are becoming increasingly difficult to treat.
"Joining Lilly is a powerful next chapter for our science and our team," said Franz-Werner Haas, LL.D., chief executive officer of LimmaTech. "Lilly's global development capabilities, manufacturing scale and long-standing commitment to patients with serious disease will enable us to accelerate our lead Staphylococcus aureus vaccine and to advance our preclinical gonorrhea and chlamydia programs."
"Staphylococcus aureus is among the most consequential bacterial pathogens we face — and one of the hardest to prevent. LimmaTech has pursued a distinctive scientific thesis: that targeting the toxins and superantigens that drive disease, rather than bacterial surface antigens, is the way to solve this problem," said Daniel M. Skovronsky, M.D., Ph.D., Lilly's chief scientific and product officer, and president, Lilly Research Laboratories. "As antimicrobial resistance erodes our ability to treat bacterial infections, this platform may help us prevent infections before they occur."
Under the terms of the agreement, Lilly will acquire LimmaTech for up to $780 million in cash, inclusive of an upfront payment and additional potential payments based upon the achievement of certain clinical and regulatory milestones.
"This transaction recognizes the value created by LimmaTech’s team, including its investors, and the opportunity inherent in its technology and pipeline. I am pleased to see the company enter this next chapter with a partner that is well-positioned to build on its foundation and accelerate its impact," said Staph Leavenworth Bakali, Chairman of the Board of LimmaTech.
LimmaTech is supported by Moelis & Company UK LLP as financial advisor and Goodwin Procter and Vischer as legal advisors.
About LimmaTech Biologics AG
LimmaTech Biologics is at the forefront of combating the global antimicrobial resistance epidemic based on its track record in vaccine technology and clinical candidate development. The company is leveraging its proprietary self-adjuvanting and multi-antigen vaccine platform alongside additional disease-specific vaccine approaches to prevent increasingly untreatable microbial infections. With decades of expertise and an expanding, robust pipeline, the LimmaTech team is dedicated to generating protective solutions to deliver transformative value worldwide. LimmaTech Biologics is backed by specialist healthcare investors, including Adjuvant Capital, BNP Paribas Asset Management Alts, Novo Holdings REPAIR Impact Fund, and Tenmile. For more information, please visit www.lmtbio.com.
Contacts
For media enquiries
Gretchen Schweitzer or Sara Ortiz
Trophic Communications
Phone: +49 172 861 8540
Email: limmatech@trophic.eu
