Indi Molecular Raises $11.5M

Culver City-based Indi Molecular, a developer of protein catalyzed capture agent (PCC) biotechnology being aimed in research tools, diagnostic agents, and PET imaging, has raised $11.5M in a Series A funding. The funding was led by M Ventures (Merck Ventures BV, a subsidiary of Merck KGaA), and also included Legend Capital, Sabey Corporation, and Asset Management Ventures. Dr. Andreas Jurgeit from Merck Ventures and Dr. Darren Cai from Legend Capital will join the company's board with the funding. Indi Molecular was founded by Leroy Hood (Institute of Systems Biology, Seattle), James Heath (Caltech) and Al Luderer, to commercialize the PCC technology developed by Heath at Caltech. Indi Molecular says PCCs offer the promise of superior stability, lower cost and faster creation compared to monoclonal antibodies, the current standard for identifying biomarkers in most diagnostics platforms.