Imagen Biotech Banks $40 Million to Advance Ophthalmology Therapies
Imagen Biotech, Inc. recently announced it has secured up to $40 million in Series A financing from SV Life Sciences, Novo Ventures, and Fidelity Biosciences to pursue the identification and development of breakthrough treatments for blinding diseases with high unmet medical needs, including dry age-related macular degeneration (dry AMD).
Matthew Feinsod, MD, an ophthalmologist who was formerly at Eyetech Pharmaceuticals and a medical officer in the FDA’s Ophthalmology Division, will lead these efforts as Chief Medical Officer for Imagen. Additional terms will not be disclosed.
In addition to Dr. Feinsod, David Guyer, MD, former Founder and CEO of Eyetech Pharmaceuticals and current Partner at SV Life Sciences, will serve as the Executive Chairman of Imagen.
“With capital commitment in place, Imagen can focus 100% of our energy and resources on bringing the best therapies to patients. We are grateful to our investor partners for this opportunity,” said Dr. Feinsod.
Dry AMD, representing at least 80% of the estimated 15 million patients with AMD, and less-common retinal diseases, such as Stargardt and others, historically have been poorly understood, and the regulatory path for any potential therapies was uncertain. Recently, however, researchers have identified several relevant disease pathways, and regulators have outlined clearer paths to product approval.
Imagen Biotech, Inc. is a private, venture-backed biopharmaceutical company focused on identifying and developing therapeutics for blinding diseases with high unmet medical needs, including dry age-related macular degeneration. Since its formation in the summer of 2011 with financing from SV Life Sciences, Novo Ventures, and Fidelity Biosciences, Imagen continues to evaluate numerous compounds sourced worldwide to determine their feasibility as drug development candidates. Imagen is funded to develop approximately three compounds through predetermined milestones.
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