ImaginAb Raises $21M

Los Angeles-based ImagineAb, a developer of biotechnology used for molecular imaging, said Thursday that it has raised $21M in a Series B financing round. The funding was led by Merieux Developpement, and also included Novartis Venture Funds, Cycad Group and Nextech Invest. ImaginAb, which is led by Dr. Christian Behrenbruch, is developing antibody technology being used for treatment of cancer and immunology. The company said the funding will go towards accelerating its lead program, which is aimed at helping in the treatment of prostate cancer. More information »