Latest financing will advance the clinical development of its CD8 ImmunoPET agent and build on its market leading position.
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).”
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”.