by
Brendon Nafziger, DOTmed News Associate Editor | November 01, 2011
Biotech startup ImaginAb Inc. said Monday it received $2.3 million in funding from the National Cancer Institute to help pay for research on new PET imaging agents.
The Inglewood, Calif.-based company, founded by a handful of University of California, Los Angeles scientists, has several imaging agents in the pipeline, including one for prostate, bladder and pancreatic cancer.
The PET agents are made with engineered antibody fragments, and the company also develops agents to help show when new antibody therapies are working in animals. These are used by pharmaceutical firms during early drug trials.
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ImaginAb said the grants came from NIH's Small Business Innovation Research fund. The federal government requires a number of agencies to devote 2.5 percent of their R&D budgets to funding research at private, high-tech startups, through SBIR programs.
