Imagine Pharma – a biotech company focused on furthering the commercialization opportunities related to its novel IMG-1 polypeptide – recently announced that it has raised a $32.5 million Series A round, with an initial traunch of $10 million, bringing the total funding to date to $40 million.
This funding round was led by IP Investors LLC, a group of seasoned investors focusing on biotech companies with attainable solutions for unmet medical needs. John T. Callaghan, CPA CFE (representing the investor group), will join the board.
The funding will advance the company’s priority programs in regenerative medicine, oral delivery, and therapeutics.
Imagine Pharma discovered a novel polypeptide IMG-1 – which has led to significant scientific achievements that promise first-in-kind treatments across multiple underserved disease states.
The specific programs to be funded through this investment include:
— Commercialization of a novel nutritional supplement
— The completion of pre-clinical studies and IND submittal for oral erythropoietin and glucagon-like peptide-1 (GLP-1) receptor agonists
— Advancement of AIPC research collaboration with LyGenesis
— The further expansion of the company’s islet isolation services business
— The strategic partnership development across all platforms
KEY QUOTES:
“I am thrilled by the exceptional interest during our raise and by the composition of our investor syndicate. I am looking forward to working with our team to continue building on our progress to date.”
— Santiago Pujadas, co-CEO of Imagine Pharma
“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.”
— 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. 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.”
— John Callaghan, member of IP Investors