Mérieux joins Novartis, others in $21m ImaginAb Series B round

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news_biotech_lrgNovartis Ventures has taken part in a $21m syndicated Series B round for clinical-stage biotech business ImaginAb.

Cycad Group and Nextech Invest also took part in the round, which was led by Mérieux Développement.

The company engineers antibodies into smaller protein formats for us in molecular imaging

Mérieux partner Valérie Calenda said, “ImaginAb’s prostate cancer imaging program has demonstrated impressive clinical data.

“We are convinced that ImaginAb’s IAB2M PSMA PET imaging agent has the potential to transform the management of high-risk patients for surgical staging and biochemical recurrence.

“The sensitivity and specificity of an antibody fragment approach also has the potential to change the way we understand occult disease, for example the non-metastatic, or ‘M0,’ patient population in castrate-resistant prostate cancer.”

ImaginAb currently has a pipeline of imaging agents for prostate, pancreatic and ovarian cancer.

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