On May 15, 2022 Immunowake reported the company has raised $20M in pre-series A financing (Press release, Immunowake, MAY 15, 2022, View Source [SID1234656120]).

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This funding round was led by Hyfinity Investments, followed by South China Venture, Lapam Capital, and HEDA Ventures. To date, Immunowake has raised $23.5M. Hyfinity Investments will join the board of directors as part of the financing.

The funds raised in this round will be used to accelerate our cytokine pipeline through pre-IND studies and Phase I clinical trials. We expect the submit our first IND application by the last quarter of 2025.

"We are excited to have such a strong group of investors backing our company at this stage. This represents strong confidence in our technology. Our bi-specific antibody platform has the capacity to solve the issues that have been long been plaguing cytokine therapy," says Xiaoyun Wu, CEO and founder of Immunowake.