Sofie Biosciences Lands $5M In Series A

Culver City-based molecular imaging products maker Sofie Biosciences said Tuesday that it has raised $5M in a Series A funding round. The funding was led by Tata Industries, and also included MRM Capital and the Cycad Group. Sofie Biosciences--which is a spinout of UCLA and Caltech--said the funding will go towards further development of its technology. The company is developing molecular imaging probes and devices, which it says helps reduce the cost and complexity of Positron Emission Tomography (PET) imaging. The company is ledb y Patrick Phelps. The new funding comes on top of a SBIR grant the company announced earlier this month. More information »