Friday, October 21, 2011
Imagen Biotech Inc., of New York, secured up to $40 million in a Series A financing from SV Life Sciences, Novo Ventures and Fidelity Biosciences to identify and develop treatments for dry age-related macular degeneration and other eye diseases with high unmet medical needs. The company was launched this summer by ophthalmologist Matthew Feinsod, a former executive at Eyetech Pharmaceuticals and former medical officer in the FDA's ophthalmology division, and David Guyer, former founder and CEO of Eyetech and partner at SV Life Sciences. The funding is designed to develop approximately three compounds through predetermined milestones. Additional details were not disclosed.
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