A Series A funding round has brought in $5.2 million for Korea-based ImmunoMet Therapeutics. In addition to general corporate functions, the firm will use the money to establish headquarters in Houston and to support clinical programs. A Phase I trial is planned for the second half of the year to assess the company's lead compound, IM156, as a treatment for glioblastoma.
The European Commission awarded about $5.2 million to a bio-artificial liver development project. Medicyte, the universities of Manchester and Pisa, and The Electrospinning Company will collaborate to develop the biomimetic liver as a transplantation treatment for metabolic diseases or as a substitute for solid organ transplantation.
The California Institute for Regenerative Medicine has awarded an early translational research grant worth $5.2 million to City of Hope, a research, education and treatment center for life-threatening illnesses. The center will use the grant to develop a T cell-based immunotherapy designed to redirect a patient's immune system against glioma stem cells.