ABT Molecular Imaging secures $9 million financing

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ABT Molecular Imaging has secured $9 million in venture capital funding from Intersouth Partners, which will be used to complete product development and execute an initial sales strategy.

Molecular imaging drugs for PET scanning currently require massive and expensive machinery, generally limiting its use to major academic medical centers and large pharmaceutical manufacturers in certain geographies. The Knoxville, Tenn.-based ABT said its biomarker generator seeks to enable local production of PET imaging agents .