South Carolina biotech company Immunologix has raised nearly $250,000 in a financing round targeting $1.1 million, according to securities filings.
Charleston, South Carolina-based Immunologix has developed technology that produces human antibodies that can target bacteria, viruses and even cancer. The company is now raising money again after bringing in just over $1 million in equity financing last August. Immunologix’s financial support includes money from SCRA, an applied research and commercialization company in Columbia, South Carolina that has a program called SC Launch that supports startups.
Immunologix says its technology offers a safer, more reliable, less expensive and faster method of producing human antibodies. Current methods produce antibodies that are not human products. The patented in-vitro technology, licensed from the Medical University of South Carolina, makes the human antibodies from cells recovered from tonsil tissue.
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Immunologix is currently marketing its antibodies through DavosPharma, a New Jersey company.
The company further explains its technology in this video: