SAN DIEGO, May 9 /PRNewswire/ -- TargeGen, Inc. has today been named by the Biotechnology Industry Organization (BIO) and the Center for Biotechnology at Stony Brook University as the recipient of the 2007 James D. Watson Helix Award in the private company category. This award, given annually, recognizes excellence in science, corporate management and value creation. The award was presented at the annual BIO convention being held this year in Boston.
"We are honored to be the recipient of the 2007 James D. Watson Helix Award," stated Peter G. Ulrich, President, CEO and Co-Founder of TargeGen. "Since our inception in 2002, TargeGen has worked to develop novel therapies for major human diseases using creative and often unprecedented strategies. Receiving the 2007 Helix Award is gratifying to the investors and employees of TargeGen in that it offers public recognition from our peers in the industry that we are achieving some measure of success toward achieving our objectives."
About TargeGen, Inc.
TargeGen, Inc. is a privately held vascular biology-focused biopharmaceutical company based in San Diego, CA. TargeGen is developing novel small molecule kinase inhibitors that suppress disease related changes in vascular permeability (edema), vascular proliferation (angiogenesis) and inflammation. Dysfunction of these basic biological processes is common to the pathology of many major human diseases including macular degeneration and other debilitating eye diseases, ischemic diseases and certain forms of cancer. Current TargeGen drug candidates in development include TG100801, a topical (eye drop) therapy for the potential treatment of macular degeneration, diabetic macular edema and proliferative diabetic retinopathy, and TG101348, an oral, potent and selective inhibitor of Jak2 for the treatment of myeloproliferative disorders including polycythemia vera, essential thrombocytopenia and myelofibrosis with myeloid metaplasia. TG100-115, a selective inhibitor of PI3K, is currently being evaluated pre-clinically as potential treatment for certain inflammatory disorders.
TargeGen, which initiated operations in 2002, has been financed to date by top tier venture capital funds including Forward Ventures, Enterprise Partners, Chicago Growth Partners/William Blair Capital Partners, Vantage Point Venture Partners/CDP Capital Technology Ventures, BB BIOTECH, H&Q Capital Management, Innovis Investments, Pappas Ventures and other investors.
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