Indi Molecular, a Culver City, CA-based developer of a synthetic replacement for antibodies, raised $1.5m in seed funding.
The round was led by InterWest Partners, with participation from several angel investors.
The company intends to use the funds to further develop PCC (protein catalyzed capture) agent technology: a process that produces synthetic peptide molecules capable of binding interactions that are equivalent or superior to molecular antibodies.
Licensed from the California Institute of Technology (Caltech), PCCs are being developed as a replacement for antibodies in in vivo imaging, therapeutics, in vitro diagnostics and biological tools.
Indi Molecular, previously an operating division of Integrated Diagnostics, will now operate as an independent company, while maintaining ties with its parent company. It will be led by Albert A. Luderer, Ph.D., CEO.
Its board includes:
– James Heath, Ph.D. – co-founder & Board member, Indi and Indi Molecular;
– Lee Hood, M.D., Ph.D. – co-founder & Board member, Indi and Indi Molecular;
– Albert A. Luderer, Ph.D. – CEO & board member, Indi and Indi Molecular
– Douglas C. Fisher, M.D., Board member, Indi Molecular; partner, InterWest Partners
The company’s advisors include: K. Barry Sharpless, Ph.D., the inventor of Click Chemistry and Indi Molecular co-founder Michael Phelps, Ph.D., laboratory will serve as the company’s headquarters.