Fabrus, LLC, a La Jolla, CA-based early stage biotechnology company focused on discovering and developing antibody therapeutics, has received $2m in equity financing.
Investors include Miami-based OPKO Health, Inc. (NYSE Amex: OPK), Frost Gamma Investments Trust and Hsu Gamma Investment, L.P.
In conjunction with the financing, Phillip Frost, M.D., OPKO, and Jane Hsiao, Vice Chairman and CTO, OPKO, will join Fabrus’ Board of Managers.
Opko acquired approximately 13% of Fabrus’ outstanding membership interests on a fully diluted basis.
The funds will be used to develop drug candidates.