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Friday, Aug 12, 2022

Inglewood Biotech Firm Raises $8 Million

ImaginAb Inc., an Inglewood biotech firm that develops molecular imaging for cancer immunotherapy, has raised nearly $8 million in new capital, according to a recent Securities and Exchange Commission filing.

The document, filed Friday, said the company sold nearly $7.7 million in shares to six investors.

A spokeswoman at the 10-year-old firm did not immediately respond to a request for comment.

Its new cash infusion follows $38.8 million in venture capital raised by ImaginAb during three separate rounds since 2012. Major investors include France’s Merieux Developpement and Novartis Venture Fund of Switzerland.

The biotech company works to clinically manage cancer and auto-immune diseases via molecular imaging by re-engineering antibodies into small proteins.

Its proprietary imaging program for prostate cancer, employed in tandem with Positron Emission Tomography (PET), is now in Phase 2 clinical trials, according to its website.

Last spring, the company co-founded by Dr. Anna M. Wu appointed Martyn Coombs as chief executive.

Coombs, an industry leader in nuclear medicine and imaging, served as president of DraxImage, where he reportedly tripled revenue in four years. The executive also held posts at Amersham (now GE Healthcare), Nihon Medi-Physics and Asterand.

Health business reporter Dana Bartholomew can be reached at dbartholomew@labusinessjournal.com. Follow him on Twitter @_DanaBart.


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