INGLEWOOD, CA, 9 October 2017 – ImaginAb, an immuno-oncology imaging company, has raised an additional $8 million in new equity funding led by Adage Capital. The company’s shareholders also include the Parker Institute for Cancer Immunotherapy, NVF, Cycad Group, Nextech Invest, and Jim Pallotta of the Raptor Group.
Martyn Coombs, CEO of ImaginAb commented, “We are thrilled to raise this new round of funding which provides the necessary fuel to accelerate development of our CD8 ImmunoPET program. We are rebooting the Company and welcome Adage Capital, the Parker Institute and Raptor. They strengthen our investor syndicate and position us as a well-funded company with solid footing.”
The company’s CD8 T Cell imaging agent is designed to non-invasively determine changes in CD8+ T cell tumor infiltrates induced by immuno-oncological treatments. This approach has the potential to guide the development of immuno-modulatory agents as well as assess early on whether a patient responds to such a treatment. The new funds will be used to accelerate human clinical trials and to implement centralized manufacturing.
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The Parker Institute for Cancer Immunotherapy, seeking to speed discovery, innovation and efficiency, has partnered with ImaginAb to directly support the clinical trial at Memorial Sloan Kettering Cancer Center. Jeff Bluestone, President and CEO of the Parker Institute commented, “Our collaboration brings funding to support new innovation allowing bold research to reach patients faster. We need better clinical data to determine which immunotherapies will be a key part of treatment for a growing number of cancers. Understanding if CD8 T Cells are attacking tumors will be an important factor.”
About ImaginAb
ImaginAb Inc. is an immuno-oncology company focused on providing actionable insight into patient selection and treatment progress for cancer immunotherapy, enabling precision medicine. ImaginAb engineers antibody fragments called minibodies that maintain the exquisite specificity of full-length antibodies while remaining inert in the body. Used with widely available PET scan technology, these novel minibodies illuminate high-value molecular targets, providing physicians with a whole-body picture of immune activity. ImaginAb is also advancing a best-in-class imaging agent to improve prostate cancer management and patient outcomes, as well as developing a pipeline for other targets in oncology. ImaginAb’s products have the potential to improve patient care and lower healthcare costs.
