ImaginAb completes $12.8 million financing to accelerate growth plans
Latest financing will advance the clinical development of its CD8 ImmunoPET agent and build on its market leading position.
LOS ANGELES, June 3, 2021 /PRNewswire/ -- ImaginAb Inc, a leading biotechnology company focused on developing next generation radiopharmaceutical imaging and therapy agents, has secured an additional $12.8 million in growth capital.
The financing was led by existing investors Adage Capital and Cycad Group and includes new investors Norgine Ventures and Theravance Respiratory Company. Current investor Jim Pallotta of the Raptor Group also participated in the financing.
"ImaginAb's vision is to be the lead in diagnostic and treatment choices, helping patients live better and healthier lives," noted Ian Wilson, ImaginAb's CEO.
"This latest round of financing will ensure that we have the financial strength to continue our growth trajectory including further recruitment and expansion of our ongoing CD8 ImmunoPET clinical trials being administered in over 20 hospitals in North America, Europe and Australia, and Increased R&D activities leveraging platform technology to develop 'best in class' therapeutic radiopharmaceuticals (RPT)."
K. Leonard Judson, Chairman of ImaginAb commented,
"We are pleased to secure this financing to support our imaging and RPT initiatives. ImaginAb is an innovative leader within the ImmunoPET imaging field and have experienced strong revenue growth over the last 12 months as our technology continues to be embraced by our pharma and biotech partners."
Judson continued "We are excited about our ongoing Phase II trial, and the potential insights our agent offers into the patient's health—enabling better patient selection and treatment monitoring for immuno-oncology therapies and other drugs".
About ImaginAb
ImaginAb Inc. is a biotechnology company focused on developing radiopharmaceutical imaging and therapy agents. ImaginAb engineer antibody fragments called Minibodies that maintain the exquisite specificity of full-length antibodies while remaining biologically inert in the body. Used with widely available PET Imaging technology and therapeutic isotopes, these novel Minibodies bind specifically to cell surface targets, providing physicians with a whole-body picture of immune activity and the potential to treat cancer.
ImaginAb is advancing a pipeline of Minibodies against both oncology and immunology targets. The Company is backed by top tier venture capital firms and strategic corporate firms including, Adage Capital, The Cycad Group, Norgine Ventures, TRC, Jim Pallotta of the Raptor Group, The Parker Institute for Cancer Immunotherapy, and Merck (MSD) Pharma.
About CD8 ImmunoPET
The 89Zr CD8 Immuno-PET agent ([89Zr]-Df-IAB22M2C) is a [89Zr]-labelled minibody that binds the CD8 receptor on human T cells and is used for quantitative, non-invasive PET imaging of CD8 T cells in patients. CD8 T cells are the main effector cells involved in the immune response against tumor cells induced by immunotherapies and they also play a key role in multiple autoimmune diseases. As such, quantitative imaging of CD8 T cells can be used to diagnose the immune status of a patient, to measure the efficacy of immunotherapies and predict patient outcomes.
For further information please contact:
ImaginAb
Ian Wilson
CEO
Email: [email protected]
Phone: +1 310 645 1211
SOURCE ImaginAb, Inc.
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