Edinburgh Molecular Imaging Closes Financing
Edinburgh Molecular Imaging Ltd, a company developing theragnostic agents targeting cancer, today announces the closing of a £3.1 million financing, which will be used to advance new molecular targeted systemic radiotherapy agents, EMT‑100 and EMT‑101 to be ready for clinic development. Current investors and one new investor supported the round.
EMT‑100 and EMT‑101 have been developed as theragnostic 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. These agents 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 EM Imaging, said: “ We are pleased that EM Imaging’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”.
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, EM Imaging has become an attractive player in the exciting field of systemic radiotherapy and has an experienced team to maximise its potential.”
Liz Roper, Partner, Epidarex Capital and Director of EM Imaging added: “ We are excited to continue to support EM Imaging in this significant expansion 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.”