Caltech and UCLA spin-out Sofie raises $5m in series A.

California-based biotech Sofie Biosciences has raised $5m in series A in a round led by multinational conglomerate Tata Industries.

Joining the round in the UC Los Angeles and Caltech joint spin-out were existing backers MRM Capital and the Cycad Group, which participated in a $2m seed round in 2010. The latest financing bring the total venture support in Sofie to $7m.

The biotech plans to use the funds to support development of its molecular imaging technologies with an eye to…

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