Synbiotics Corp. of San Diego announced Monday that itssubsidiary, ImmunoPharmaceutics Inc., has raised $2.8 millionin equity financing.

Hambrecht & Quist Life Science Technologies Fund, Imcera Inc.and an undisclosed private investor obtained a 38 percentequity share of IPI.

Synbiotics set up IPI in 1989 to turn its proprietary drug-design technology into new and improved cardiovascular, anti-inflammatory and immunoregulatory drugs. Synbiotics invested$2.5 million in IPI, which has synthesized several drugs thatwill be ready for testing later this year, said Dr. Edward T.Maggio, Synbiotics' president.

The Synbiotics/IPI technology uses the three-dimensionalstructure of proteins, such as antibodies and receptors, todesign peptidomimetics, or protein mimics. Unlike proteins,peptidomimetics can be administered orally.

Synbiotics is looking for a corporate sponsor to completedevelopment and manufacture and market IPI's products, saidMaggio.

Synbiotics (NASDAQ: SBIO) has a second subsidiary, UniSynFibertec, which makes and sells hollow fiber-basedmammalian cell culture systems. Synbiotics also sellsveterinary products, including the feline leukemia vaccineVacSYN/FeLV and canine lymphoma treatment Mab231.

Synbiotics' stock closed Monday at $3.88, down 13 cents.

-- Carol Talkington Verser, Ph.D. Special to BioWorld

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