Ilya Pharma announced a capital investment of $3.5M
Ilya Pharma, an Uppsala, Sweden-based pharmaceutical company, announced securing EUR 3M ($3.5M) in capital investment.
The round is supported by undisclosed Swedish private investors and is added to an additional EUR 3M already received from the EU Horizon 2020 project (SME Instrument Phase II) in spring 2018.
Ilya Pharma, founded in 2016 and led by CEO Evelina Vågesjö, develops drug candidates for PoC in clinical phase I and II from its technology platform of lactic acid bacteria expressing different human therapeutic proteins. The company, which has 15 employees, operates its own proprietary technology platform based on the use of living lactic acid bacteria. Wound healing in skin and mucosa are accelerated as human healing proteins are injected directly into the wounds.
Prior to this, Ilya Pharma raised SEK 4.5M in a pre-seed round in 2017.