Thursday, November 7, 2013

ImmunGene Raises $9M

Thousand Oaks-based ImmunGene, a startup biotech company developing antibody-based, protein therapeutics for treating cancer, said today that it has raised $9M in a Series A funding, to advance its early stage development products. According to the company, the funding came from Ally Bridge Group. The startup is led by Sanjay D. Khare, PhD, and includes a team from Amgen, Baxter, Genentech and Seattle Genetics. ImmunGene said it is developing developing antibody-cytokine fusion technology therapies to treat cancer. As part of the funding, ImmunGene said it has added Frank Yu and Mike Gresser, Ph.D. to its board of directors. Yu is founder and CEO of Ally Bridge Group, a Chinese private equity fund; Gresser is at the Molecular Biology Institute at UCLA, and was previously Amgen's Vice President and Head of Inflammation and Neuroscience Research Therapeutics Areas.

---