Agilis Biotherapeutics Locks In $8 Million To Develop DNA-based Therapeutics For Rare Diseases
12/31/2013 6:36:20 AM
Agilis Biotherapeutics Completes $8 Million Financing to Develop DNA-based Therapeutics for Rare Diseases
NEW YORK--(BUSINESS WIRE)--Agilis Biotherapeutics, LLC, a synthetic biology-based company focused on rare genetic diseases, announced today that the company has completed an $8 million dollar financing.
Proceeds from the financing will be used for Agilis’ initial focus on developing a treatment for Friedreich’s ataxia (FRDA) in collaboration with Intrexon Corporation (NYSE: XON), a leader in the field of synthetic biology. Agilis and Intrexon recently executed an Exclusive Channel Collaboration (ECC) through which Agilis intends to develop and commercialize novel DNA-based therapeutics for the treatment of FRDA. Under the ECC Agilis also has an option to expand its relationship with Intrexon by adding another rare genetic disease to the collaboration.
About Friedreich’s Ataxia
Friedreich’s ataxia is a rare genetic neurodegenerative disease that results in a physically debilitating, life shortening condition. FRDA is caused by defect in a gene (the “FXN gene”) that results in limited production of an important protein called frataxin which functions in the mitochondria (the “powerhouses “) of the cell. FRDA is the most common hereditary ataxia with an estimated 5,000 to 10,000 patients in the US. Progression of this disease causes nervous system damage, problems with movement, and finally early death resulting from cardiac malfunction. There are currently no FDA-approved treatment options for FRDA. For more information about these and other rare and neglected diseases please visit: Friedreich’s Ataxia Research Alliance (FARA) www.curefa.org; National Ataxia Foundation (NAF) www.ataxia.org; Muscular Dystrophy Association www.mda.org; and National Institute of Neurological Disorders and Stroke www.ninds.nih.gov.
About Agilis Biotherapeutics, LLC
Agilis Biotherapeutics, LLC, is a biotechnology company focused on designing and engineering first-in-class DNA-based therapeutics to improve and save the lives of patients affected by life-threatening or fatal rare diseases for which there are no or limited treatment options. We believe that engineered DNA-based therapeutics provide the ability to target underlying disease mechanisms with tightly-controlled multigenic modalities leading to “functional cures” for patients with these diseases.
We invite you to visit our website at www.agilisbio.com.
Safe Harbor Statement
Some of the statements made in this press release are forward-looking statements. These forward-looking statements are based upon our current expectations and projections about future events and generally relate to our plans, objectives and expectations for the development of our business. Although management believes that the plans and objectives reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and actual future results may be materially different from the plans, objectives and expectations expressed in this press release.
George S. Zorich, 301-944-2884
Chief Executive Officer
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