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Neurodegenerative Disease Treatment Research Receives Early-Stage Funding At Wayne State University; Start-Up Company, GliaGen LLC Established


8/23/2006 1:29:59 PM

BOSTON, Aug. 23 /PRNewswire/ -- Allied Minds, a pre-seed investment corporation specializing in early stage university business ventures, has partnered with Wayne State University to establish a start-up company, GliaGen LLC which will specialize in novel diagnostic and therapeutic technologies specifically tailored to treat neurodegenerative diseases.

The newly formed GliaGen LLC has exclusively secured platform technology developed by Drs. Leon Carlock and Maria Cypher, of the Center for Molecular Medicine and Genetics, Wayne State University School of Medicine. "These technologies provide new tools for understanding neural disease processes, as well as cellular repair mechanisms. This will significantly improve our ability to target these processes for diagnostic and therapeutic applications," said Dr. Carlock.

In addition to commercializing the patent pending technology, GliaGen will also support further research at Wayne State. "We expect our research support at the University in conjunction with the development efforts within GliaGen to enable the rapid translation of these early stage discoveries into research, pharmaceutical and clinical applications," said Chris Silva, CEO of Allied Minds.

"We are very excited about this new agreement between Wayne State University and Allied Minds," said Eric Stief, WSU Technology Licensing Manager. "We see it as an effective way to augment Dr. Carlock's and Dr. Cypher's groundbreaking research, and as a catalyst to speed basic science discoveries to commercial applications for the benefit of the public. The Allied Minds team is to be commended for understanding the business case for supporting university innovation." Silva further added, "We also expect the success of this corporate model to provide future job opportunities for the WSU research staff, graduates and the Detroit community as a whole."

About Allied Minds, Inc.

Allied Minds is a pre-seed investment company creating partnerships with key Universities to fund corporate spin-offs resulting from successful early stage technology research. By providing corporate development support as well as finance, Allied Minds aims to guide early stage companies to commercial success, thereby generating value for all stakeholders. For additional information, logon to http://www.alliedminds.com.

Source: Allied Minds, Inc.

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