Indi Molecular, a Culver City, CA-based life sciences company, raised $11.5M in Series A funding.
The round was led by M Ventures; Legend Capital; Sabey Corporation; and existing investors including Asset Management Ventures. As part of the financing, Dr. Andreas Jurgeit from Merck Ventures and Dr. Darren Cai from Legend Capital will join Indi Molecular’s board.
The company will use the funds to establish a high throughput PCC discovery platform and to advance existing leads in PET immuno-oncology imaging to clinical stage.
Founded in 2013 by Leroy Hood (Institute of Systems Biology, Seattle), James Heath (Caltech) and CEO Al Luderer, Indi Molecular is developing a novel, synthetic class of binders with antibody-like properties called protein catalyzed capture agents (PCCs). PCCs are highly specific, low molecular-weight binders which combine the benefits of antibody-like binding with the flexibility and chemical properties of small molecules.
Since its inception, the company has shown the utility of PCC binders across a wide range of applications, ranging from research tools and diagnostic agents to PET imaging. It has collaborated with partners including the Bill and Melinda Gates Foundation, the US Department of Defense and leading healthcare companies.