Immune Control raises $11.3 million for clinical trials

By Jennifer Chiou

New York, July 14 - Immune Control, Inc. said it obtained $11.3 million in financing from four firms to develop and test serotonin antagonists as treatments for diseases in two clinical trials this year.

Investors included BioAdvance Ventures, Domain Associates, NewSpring Capital and Anthem Capital, all of Pennsylvania.

The company also announced Peter Sears of BioAdvance Ventures, Brian Halak of Domain and Zev Scherl of NewSpring have joined its board.

"We could not be happier with having achieved this milestone, which is critical to the development of any young company," Immune Control founder Stephen Roth said in a news release.

Immune Control's work is based on research from Drexel University's Brad Jameson and the company has licensed key patents from the college of medicine.

The Conshohocken, Pa., pharmaceutical company is developing compounds for treatment of multiple myeloma and other immunological diseases.

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