SCRA’s SC Launch Invests $200,000 in Immunologix, a Lowcountry Biotech Company
March 15, 2010
CHARLESTON, SC – March 15, 2010 – Immunologix, a Charleston based biotechnology company that specializes in producing fully human antibody-based therapeutics through a novel in vitro system, received an investment Friday from SCRA’s affiliate SC Launch. Immunologix has worldwide exclusive licensing rights to a technology developed in the laboratories of the Medical University of South Carolina that allows for the production and selection of human antibodies from cells recovered from discarded immune tissue.
Dr. Ryan Fiorini, Immunologix COO, said he plans to utilize the investment to fully gear up his company’s laboratory and hire an additional lab technician from the outstanding scientific talent located here in South Carolina’s Lowcountry. “We can’t thank SCRA and SC Launch enough for believing in our company and investing in our future here in Charleston,” said Fiorini. “Recently, we have had interest from all parts of the world, including a call last week from two major pharma companies based in Europe. We are really excited to now have the ability to work with these potential partners, and it is in part because of SC Launch that we can do that,” he said.
Immunologix was named as a Top Ten finalist in the 2008 SE BIO Plan/Competition and was selected to present at the 2009 SEBIO meeting as a “Top Early-Stage” Company. The company was founded by Dr. Douglas Carnes, CEO, and Dr. Ryan Fiorini, COO. Dr. Carnes said, “Immunologix is proud to be one of the first of four companies whose offices are headquartered in the new SCRA MUSC Innovation Center. It’s exciting to be on the cutting edge and part of bringing scientific technology to Charleston.” The Center, which opened in December, 2009, supports start-up companies with wet lab and equipment space, primarily in concert with entrepreneurs commercializing MUSC research, as well as private start-ups.
“SCRA is very excited to invest in Immunologix through our SC Launch program,” said SCRA CEO Bill Mahoney. “The company reflects the growing biotech commercialization occurring in South Carolina. This commercialization is consistently utilizing world-class basic science coming out of our research universities.”
“We are proud to have worked with Immunologix since its inception in 2008,” said Dave McNamara, SC Launch Executive Director. “The company complements South Carolina’s emerging biotech market – these young companies help keep the talent coming out of MUSC here in the State.”
SCRA has provided funding and support, through its SC Launch program, for 149 entities since its inception in 2006. The SC Launch program has attracted more than $71 million in add-on, private equity investment funding in South Carolina companies. Immunologix is currently attracting additional, private investors, which would add to this total.
About SCRA
SCRA is a global leader in applied research and commercialization services with offices in South Carolina, Ohio and in McLean, Virginia. SCRA collaborates to advance technology, providing technology-based solutions with assured outcomes to industry and government, with the help of research universities in the US and around the world. http://www.scra.org
About SC Launch
SC Launch, an SCRA collaboration, assists entrepreneurial start-up companies with up-front counseling, seed-funding, and access to a powerful resource network. The SC Launch mission is to help generate knowledge economy jobs in South Carolina, enhance the state’s quality of life and provide opportunity for all South Carolinians in the new economy. For more information please visit http://www.sclaunch.org.
