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Article: Avid Raises $26M In Series C For Molecular imaging Agents.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
Avid Radiopharmaceuticals Inc. raised $26 million in a Series C financing to advance development of its diagnostic molecular imaging compounds for neurological disorders.
Avid, of Philadelphia, has five imaging compounds in clinical development, and recently announced initial positive results on AV-1, its lead compound for imaging amyloid plaques in Alzheimer's disease patients.
It is developing products for imaging with both positron emission tomography and single photon computed tomography, and has a collaboration with Bayer Schering Pharma AG, of Berlin, to develop its first PET molecular imaging agent for Alzheimer's disease.
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