ABT Molecular Imaging has raised a $9 million Series A round of funding led by Intersouth Partners. Based in Knoxville TN, ABT Molecular imaging has developed a platform to generate unit doses of molecular imaging drugs for use in positron emission tomography or PET scanning.
The company was founded by Ron Nutt, Ph.D. in 2006. Dr. Nutt was a founder of CTi and was CEO at the time they were acquired by Siemens.
This new platform enables local production of molecular imaging drugs. Currently, these drugs are manufactured by very large, expensive machinery which limits their use to larger hospitals in limited geographic locations. ABT’s Biomarker Generator reduces the cost and complexity of generating these drugs.