IM Therapeutics Secures $10M Series A Financing to Advance Lead Candidate IMT-002 for Type 1 Diabetes

VCBeat (WeChat ID: vcbeat) has learned that on October 9, ImmunoMolecular Therapeutics (hereinafter referred to as IM Therapeutics), an immune molecular therapy company, secured $10 million in Series A financing. The funds will be used to advance its drug discovery platform targeting human leukocyte antigen (HLA) and to develop lead candidate drugs for type 1 diabetes (T1D).

This round of financing was co-led by the JDRF T1D Fund and Morningside Ventures, with participation from the University of Colorado Medical Innovation Fund.

IM Therapeutics is a clinical-stage company developing personalized therapies for autoimmune diseases, founded by world-class physician-scientists from the Barbara Davis Center for Diabetes at the University of Colorado.

IM Therapeutics is developing personalized medicines for autoimmune diseases by establishing oral drug therapies that target HLA variants, which are typically associated with a higher risk of disease. The company’s platform screens millions of compounds, combining them with rational drug design and bioassays to achieve optimal docking with HLA proteins, thereby developing candidates for targeted therapy. IM Therapeutics’ lead drug, IMT-002, targets HLA-DQ8 activity for the treatment of type 1 diabetes.

Research by IM Therapeutics indicates that the blocking effect of certain human leukocyte antigen (HLA) gene variants is considered a high-risk factor, thereby inhibiting the corresponding autoimmune responses. As the first company to develop personalized therapies for autoimmune diseases, IM Therapeutics validated its approach in a Phase 1b human clinical trial involving patients newly diagnosed with type 1 diabetes who tested positive for the HLA-DQ8 variant. The study was partially funded by JDRF.

IM Therapeutics is advancing its oral drug IMT-002 through IND-enabling development for type 1 diabetes, and leveraging its core therapeutic platform, HLA blockade, to treat autoimmune diseases including celiac disease.

Dr. Nandan Padukone, CEO of IM Therapeutics, stated, “Our value proposition has been clear from the outset: to identify the root causes of autoimmunity through targeted therapies and make an impact on diseases such as type 1 diabetes. We believe that the expertise brought by the JDRF T1D Fund and Morningside Ventures will help us build a broad portfolio of autoimmune disease treatments.”

IM Therapeutics’ innovative therapeutic approach currently targets the HLA-DQ8 and DQ2 variants, which are associated with an increased risk of type 1 diabetes and celiac disease. HLA-DQ8 is present in 60% of patients with type 1 diabetes and 10% of those with celiac disease, whereas nearly 100% of celiac disease patients carry HLA-DQ8, and 90% carry HLA-DQ2. IM Therapeutics has demonstrated for the first time in clinical studies that autoimmune responses in type 1 diabetes can be suppressed in patients with the HLA-DQ8 genotype.

With the establishment of a powerful technology platform integrating computational chemistry, bioassays, and rational drug design, IM Therapeutics is developing products targeting HLA in various autoimmune diseases.

Sean Doherty, Executive Chairman of the JDRF T1D Fund, and Dr. Jason Dinges, Investment Advisor at Morningside Venture Capital, have joined the Board of Directors of IM Therapeutics.

JDRF T1D Fund is a venture philanthropy foundation that accelerates solutions for curing, preventing, and treating type 1 diabetes (T1D) through catalytic commercial investments. By partnering with private capital—including venture capital firms, corporations, and foundations—the JDRF T1D Fund aims to deliver medications, devices, diagnostics, and vaccines to patients with T1D.

Morningside Group (晨兴集团) was founded in 1986 by the Chan family of Hong Kong, primarily engaging in private equity and venture capital investments.

(Compiled by Cheng Xiaoqin)