Imagine Pharma, a biotech company focused on furthering the commercialization opportunities related to its novel IMG-1 polypeptide, today announced that it has raised a $32.5 million Series A round, with an initial traunch of $10 million, bringing its total funding to date to $40 million.
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| [31-October-2023] |
| Funding to advance key research and commercialization initiatives across company’s three core platforms: Oral Delivery, Therapeutics, and Regenerative Medicine PITTSBURGH, Oct. 31, 2023 /PRNewswire/ -- Imagine Pharma, a biotech company focused on furthering the commercialization opportunities related to its novel IMG-1 polypeptide, today announced that it has raised a $32.5 million Series A round, with an initial traunch of $10 million, bringing its total funding to date to $40 million. The round was led by IP Investors LLC, a group of seasoned investors that focuses on biotech companies that have attainable solutions for unmet medical needs. John T. Callaghan, CPA CFE, representing the investor group, will join the board. The funding will be used to advance the company’s priority programs in regenerative medicine, oral delivery, and therapeutics. “I am thrilled by the exceptional interest during our raise and by the composition of our investor syndicate,” said Santiago Pujadas, co-CEO of Imagine Pharma. “I am looking forward to working with our team to continue building on our progress to date.” Imagine Pharma discovered a novel polypeptide, IMG-1, that has led to significant scientific achievements that promise first-in-kind treatments across multiple underserved disease states. Specific programs to be funded through this investment include:
“Our scientific exploration and program development journeys are guided by science and the opportunities that it presents for us. This approach has led to a unique oral delivery system for biologics, a novel nutritional supplement with the potential to address numerous health and wellness issues, and the ability to regenerate and propagate different progenitor body cell-types, which could hold the key to developing cures for a myriad of disease states,” said Dr. Ngoc Thai, Founder, co-CEO, and Chief Medical Officer. “We are constantly vetting biotech investment opportunities and are very excited about the uniqueness of Imagine Pharma, the milestones it has accomplished to-date, and the potential it holds,” said John Callaghan, member of IP Investors. “It is rare to find a biotech venture at this stage with such a broad array of partnership, licensing, and spinoff paths, as well as near-term revenue potential.” About Imagine Pharma Media Contact:
SOURCE Imagine Pharma |
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