Imaging agent developer ImaginAb said it has raised $8 million in an equity funding round led by Adage Capital.
The financing will be used to support the development of ImaginAb's CD8 T-cell PET imaging agent, which is designed to noninvasively determine changes in CD8+ T-cell tumor infiltrates induced by immuno-oncological treatments, according to the company. ImaginAb said this approach could potentially guide the development of immunomodulatory agents as well as enable early assessment of treatment response.
Specifically, the new investment will be used to accelerate human clinical trials and to implement centralized manufacturing for the agent, ImaginAb said. Other participants in the new funding round included the Institute for Cancer Immunotherapy, NVF, Cycad Group, Nextech Invest, and Jim Pallotta of the Raptor Group.
