SAN DIEGO, May 7, 2013 /PRNewswire/ -- Celladon Corporation, a biopharmaceutical company focused on the discovery and development of innovative treatments for cardiovascular diseases announced today it had been selected as a finalist for Red Herring's Top 100 North America award, a prestigious list honoring the year's most promising private technology ventures from the North American business region.
Red Herring has been selecting the most exciting and promising start-ups and "scale ups" since 1995. Finalists are still evaluated individually from a large pool of hundreds of candidates based across North America. Twenty major criteria underlie the scoring and process. They include, among others: the candidate company's addressable market size, its IP and patents, its financing, the proof of concept, trailing revenues and management's expertise. Each company goes through an individual interview after filling out a thorough submission, complemented by a due diligence. The list of finalists often includes the best performing and prominent companies of that year.
This unique assessment of potential is complemented by a review of the company's actual track record and standing, which allows Red Herring to see past the "buzz" and make the list a valuable instrument for discovering and advocating the greatest business opportunities in the industry.
"We are pleased that Celladon's innovative development program, MYDICAR, has been recognized by Red Herring." said Krisztina Zsebo Ph.D., President and CEO of Celladon Corporation. "There is tremendous need for new treatment modalities for heart failure and we have made great strides in the advancement of MYDICAR towards commercialization".
2013 will be remembered as a special vintage. "The finalists list confirms the excellent choices made by entrepreneurs and VCs and the start-ups' solid roots in corporate America, embracing their innovations. By all metrics, it emphasizes the United States' entrepreneurial excellence," said Alex Vieux, publisher and CEO of Red Herring.
Finalist selections for the 2013 edition of the Red Herring 100 North America award are based upon technological innovation, management strength, market size, investor record, customer acquisition and financial health. During the several months leading up to the announcement, hundreds of companies in the fields of security, Web 2.0, software, hardware, life sciences, cloud, mobile and others completed their submissions to qualify for the award.
The Top 100 winners will be announced at a special awards ceremony the evening of May 23 at the event.
MYDICAR is a genetically targeted enzyme replacement therapy intended to restore levels of SERCA2a, a regulator of calcium cycling in the heart and cardiac contractility. SERCA2a levels decline in all forms of late-stage HF resulting in deficient heart function. With MYDICAR, the SERCA2a gene is delivered using recombinant adeno-associated virus (AAV) as the vector. AAV is a naturally occurring virus not associated with any disease in humans. MYDICAR is delivered in a single dose directly to the heart during a routine outpatient cardiac catheterization procedure, similar to an angiogram. MYDICAR is synergistic and additive across current HF treatments such as ACE inhibitors, beta-blockers, sprinolactone/diuretics, and biventricular pacing devices. No treatment substitution decision is required by the treating physician. A recent Phase 2 clinical trial demonstrated sustained improvement at one year in cardiac function parameters and quality of life. A 200 patient Phase 2b study of MYDICAR was initiated in August, 2012
Celladon is a privately held biotechnology company founded with the goal of becoming the leader in developing molecular therapies for the treatment of heart failure and cardiac diseases. The company's lead product, MYDICAR, targets the key enzyme deficiency in advanced heart failure, SERCA2a, which regulates calcium cycling and contractility in heart muscle cells. Celladon also conducts pre-clinical research on a proprietary platform of small molecule activators of SERCA enzymes for the treatment of metabolic and cardiovascular diseases. Further information can be found at www.celladon.net.
SOURCE Celladon Corporation