Tuesday, March 27, 2012

ImaginAb Raises $12.5M

Los Angeles-based ImaginAb, a UCLA spinout which is developing antibody fragments for use in the diagnostic imaging market, said late last night that it has raised $12.5M in a Series A financing round. The round was led by Novartis Venture Funds, and also included Merieux Developpement, Nextech Invest, Cycad Group and Momentum Biosciences. ImaginAb is using biotechnology to develop engineered antibody fragments for diagnostic imaging, particularly for imaging metastatic prostate and pancreatic cancer. The firm was founded by UCLA faculty members Robert Reiter, Anna Wu and Christian Behrenbruch. As part of the funding, the firm said that both Novartis and Merieux will add a member to its board of directors. More information »

---