Edinburgh Molecular Imaging Closes Financing
EDINBURGH, Scotland, Dec. 17, 2019 /PRNewswire/ -- Edinburgh Molecular Imaging Ltd (EMI), a company developing theragnostic agents targeting cancer, today announces the closing of a £3.1 million financing, which will be used to advance our new molecular targeted systemic radiotherapy agents, EMT-100 and EMT-101 ready for clinic development. Current investors and one new investor supported the round.
EMT-100 and EMT-101 have been developed as therapeutic agents from the company's clinical stage imaging agent EMI-137 and hence may present a fast track opportunity to enter the exciting and rapidly developing arena of systemic radiotherapy.
EMT-100 and EMT-101 are comprised of peptides targeting c-Met, conjugated to a radionuclide. c-MET is significantly over-expressed by many tumours compared with healthy tissue and EMI-100/101 selectively target c-MET to deliver a lethal dose of radiation directly to tumour cells, with minimal impact on surrounding tissues. They offer the potential to target many solid tumours as well providing new treatment options for currently difficult to treat cancers.
Dr. Bernhard Sixt, CEO of Edinburgh Molecular Imaging, said:
"We are pleased that EMI's current and new investors have endorsed our new strategic plan to use our clinical stage c-MET targeting technology as a base for the development of systemic radiotherapy. In clinical trials our optical imaging agent EMI-137 has been administered to almost 100 cancer patients so far and has proven to be highly specific, safe and effective. The dosing and imaging windows indicate that the technology should be ideally suited to developing a cross-cancer SR agent."
The new investor Georges Aboud, Caribou Property Limited, commented,<>"Our goal is to back companies with world class technology that can make an impact on patients' lives. With this strategic development, EMI has become an attractive player in the exciting field of systemic radiotherapy and has an experienced team to maximise its potential."
Liz Roper, Partner in Epidarex Capital and Director of EM Imaging added:
"We are excited to continue to support EMI in this significant expansion for the use of its molecular targeted agents into therapeutic applications in the rapidly developing area of systemic radiotherapy which is attracting a great deal of investor interest."
About Edinburgh Molecular Imaging
EM Imaging's highly novel c-MET receptor targeting technology platform targets disease at the molecular level. It was formed in 2014 by Epidarex Capital.
As c-MET receptors are expressed in most cancer types our newly developed systemic radiotherapy agents (EMT-100 series) offer potentially new cross cancer treatment options for currently difficult to treat cancers. The development of the new agents benefits from the preclinical and clinical data of the company's clinical stage imaging agent (EMI-137) which successfully completed a CRC phase 2b study in November 2019. EMI-137 has been administered to almost 100 cancer patients so far and has proven to be highly specific, safe and effective.
EMI-137 allows physicians and surgeons to see disease in the body in real time during interventional procedures providing guidance for more accurate surgery.
For more information, please visit www.emimaging.com.
Epidarex Capital is a transatlantic venture fund that invests in early-stage, high growth life science and health technology companies in under-ventured markets. Epidarex focuses on providing risk capital to young companies, including spin-outs, from leading research institutions in both established and emerging life science hubs. The fund's international management team has a track record of successfully partnering with top scientists and entrepreneurs to develop highly innovative products for the global healthcare market. For more information, please visit www.epidarex.com.
About Molecular Targeted Systemic Radiotherapy
Radioactive elements are combined with molecules that bind specifically to proteins expressed by the diseased cells or other cell-surface receptors to make radiopharmaceutical drugs and are used to treat cancer systemically. Infused into a vein or in some cases taken by mouth, they travel throughout the body in the blood and bind specifically to the diseased cells, delivering a short lived but lethal dose of radiation directly to the cancer cells with minimal impact on surrounding tissue.
SOURCE Edinburgh Molecular Imaging
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