ImmunGene, Inc., a Thousand Oaks, CA-based biotechnology company focused on developing antibody-cytokine fusion technology therapies to treat cancer, raised $9m in a milestone-based Series A financing from Ally Bridge Group.
In conjunction with the financing, ImmunGene added two new members to its board of directors:
– Frank Yu, Founder and CEO of Ally Bridge Group, and
– Mike Gresser, PhD. , a member of ImmunGene’s scientific advisory board.
The company will use the capital to advance its early-stage development products to IND-enabling studies.
Led by Sanjay D. Khare, PhD, President and CEO, ImmunGene recently received patents from the U.S. Patent and Trademark Organization (USPTO) and International Patent organizations. Two of the patents (US 8,258,263 and US 8,563,692) cover the antibody-interferon fusion technology that helps target interferon to the tumor cells and overcomes interferon-related dose-limiting toxicity. A third patent (US 8,497,354) covers a novel fully human monoclonal antibody that targets a variety of human tumors.