Indi Molecular scores USD 1.5 million in seed round
Indi Molecular announced the close of its seed funding with USD 1.5 million. The round was led by InterWest Partners and was participated in by other angel investors. An emerging life sciences company, Indi Molecular is a company that makes synthetic replacement for antibodies.
Indi Molecular said it would use the funds for product development. Its protein catalyzed capture (PCC) agent technology is a process that makes synthetic peptide molecules that can perform binding interactions with molecular antibodies. Unlike antibodies, however, PCCs are cheaper, are more specific and can be made more quickly.
Indi Molecular was previously a division of Integrated Diagnostics. As part of the deal, it would now be an independent firm. It would, however, continue to maintain a close relationship with its parent firm.
Indi Molecular CEO and Board Member Albert A. Luderer said PCCs could pave the way for more sophisticated diagnostic and therapeutic equipment as well as other biological tools. "These advantages will allow a complete reinvention of processes or products that currently rely on antibodies," he added.