GAITHERSBURG, Md., June 25, 2012 /PRNewswire/ -- Sirnaomics, Inc. (www.sirnaomics.com) announced today that the company has been awarded another NIH SBIR (Small Business Innovation Research) grant for developing its small interfering RNA (siRNA) therapeutic product STP705 to improve skin wound healing with minimized scar formation. This funding will further enhance the company's effort for perfection of its nanoparticle-based siRNA delivery systems and speed up the IND enabling studies for STP705. Sirnaomics' multi-targeted siRNA therapeutics utilizing its nanoparticle delivery technologies represents a unique approach for realizing the advantage of siRNA-based drugs. Since its establishment, Sirnaomics has been successfully awarded five NIH SBIR grants in addition to other government grant funding.
Sirnaomics is a leading biopharmaceutical company in the discovery and development of siRNA therapeutics. The company's mission is to advance siRNA therapeutics by using its proprietary multi-targeted siRNA design and screening together with nanoparticle-mediated siRNA delivery vehicles. Through in-house efforts and collaborations, Sirnaomics has developed nanoparticle-based siRNA delivery systems in three generations: the self-assembled nanoparticles (1st), the ligand-directed nanoparticles (2nd) and the infrared-activated nanoparticles (3rd), for various types of therapeutic applications. Based on these two technology platforms, Sirnaomics has developed an enriched pipeline of siRNA therapeutic product candidates, including STP705 for improvement of skin wound healing with minimized scar formation, STP601 for treatment of ocular AMD/diabetic retinopathy, STP702 for treatment of respiratory influenza viral infection, STP909 for treatment of HPV infection/cervical cancer, and candidates for several other therapeutic indications.
"Receiving an NIH SBIR grant for development of siRNA therapeutics to improve skin scarless wound healing clearly demonstrates the scientific merits of Sirnaomics' siRNA therapeutic program," said Dr. Patrick Y. Lu, President and CEO of the company. "The collaboration among scientists and clinicians from Sirnaomics, Johns Hopkins University and Navy Medical Research Center provided a solid foundation for the success of such a novel therapeutic approach." Dr. Lu further emphasized that continuous government funding is critical for the growth of a therapeutic product company like Sirnaomics, especially in the current financial environment.
According to a report from The Mattson Jack Group, market for reduction of scarring on skin is about US$4 billion a year. Some 42 million surgery-patients in the U.S. each year could potentially benefit from the pharmaceuticals that can improve wound healing and minimize scar formation. There are 41.8 million surgical procedures each year in Europe and 70 million procedures annually in the United States involving skin wounds, which could benefit from these pharmaceuticals. Currently there is no approved pharmaceutical of such available in the market in either U.S. or Europe. Sirnaomics has discovered and developed its first-in-class siRNA therapeutic candidate, STP705, to address this unmet clinical need. Currently, this novel drug compound is under intensive IND-enabling studies in both U.S. and China.
Sirnaomics, Inc. is a privately held Delaware corporation headquartered in Gaithersburg, Maryland, U.S.A. Established in 2007 by a group of leading scientists in the field of RNAi technology, the company is pursuing the mission of advancing RNAi technology with novel multi-targeted therapeutic development. In 2008, the company established its subsidiary in Suzhou, China to expand its R&D capacity and potential market. Members of the senior management team bring over 90 years of combined experience in the biopharmaceutical, financial and business management industries. Supported with funding from angel investors, corporate partnerships, government grants and venture capitals, Sirnaomics has developed a strong portfolio of intellectual properties with an enriched product pipeline. The therapeutic areas of interest include regenerative medicine (wound healing), diabetic complications, respiratory viral infection, HPV and cervical cancer, among others.
George Ji, Senior VP for Corporate Development
SOURCE Sirnaomics, Inc.