NEW YORK (GenomeWeb News) – Molecular imaging firm Edinburgh Molecular Imaging has received £4 million ($6.5 million) in a Series A investment, life science capital venture fund Epidarex Capital announced today.
Epidarex, along with Scottish Enterprise's investment arm, the Scottish Investment Bank, were investors in the round, which will go toward the global commercialization of EMI's technology, an Epidarex spokesperson said.
A spinout of the University of Edinburgh, EMI is developing optical molecular imaging technology for diagnosing and monitoring major diseases. The technology is based on fluorescent imaging reagents for detecting molecular changes in the human body at the bedside, in real time, and at cellular resolution.
Initially EMI plans to focus on the diagnosis and management of lung conditions, such as lung cancer, fibrosis, lung infections, and acute respiratory distress syndrome, but its technology has applications for "a wide spectrum" of other diseases, Epidarex said.
The investment "heralds an important landmark in the journey of taking our concepts and research from the bench to the bedside and ultimately to improve patient care," EMI Co-founder Kev Dhaliwal said in a statement.
Mark Bradley and Chris Haslett, professors at the University of Edinburgh, are EMI's other co-founders.