Sirnaomics Received Multiple Government Fundings For Its Multi-Targeted siRNA Therapeutics Programs
Published: Dec 26, 2007
ROCKVILLE, Md., Dec. 26 /PRNewswire/ -- Sirnaomics, Inc. announced today that the company has received funding from a variety of Government Programs. Sirnaomics, Inc. (www.sirnaomics.com), a biopharmaceutical company founded in early 2007, dedicates to advancing RNA interference (RNAi) Technology for novel drug discovery and targeted therapeutics development. The company's multi-targeted siRNA therapeutic programs and its nanoparticle-enhanced delivery technologies represent the unique approach for truly realizing advantages of small interfering RNA (siRNA)-based drugs, to treat various critical human diseases. Sirnaomics has been successfully attracting grants and investments from the State of Maryland, Department of Business and Economics Development (DBED), Maryland Industrial Partnerships (MIPS) and the Montgomery County Technology Growth Programs (TGP), in addition to the State of Maryland Tax Credit Program for Biotechnology Investment.
RNAi has emerged as a fundamentally important biological phenomenon and as a versatile, powerful tool for biomedical research. RNAi plays a multifaceted role in molecular biology by silencing genes through chromatin remodeling, interfering with protein synthesis, and in its best-studied mode of action quashing gene expression by cleaving messenger RNA. Experimental applications of RNAi have spurred the exploration of gene function in many basic research, drug discovery and clinical settings. The 2006 Nobel Prize for medicine and physiology and a number of corporate acquisitions and investments by Novartis, Merck, AstraZeneca and Roche injecting billions of dollars into this novel technology further fueled the enthusiasm for the great promise of siRNA therapeutics development.
Sirnaomics' mission is to advance RNAi technology with the proprietary positions on multi-targeted siRNA cocktail design and nanoparticle-mediated siRNA delivery for novel therapeutics. The company is dedicated to becoming the leader in the field of RNAi technology by spearheading into the targeted therapeutics market. The company's partnership with big pharmas and major biotech companies, along with government funding and venture capital financing, will strengthen its financial resources to accelerate the development of the technology platforms and siRNA therapeutic products. The strong ties with biopharmaceutical communities in Asia (China) allow the company to speed up its pre-clinical and clinical processes for novel siRNA therapeutic development with low cost. The company's proprietary "Tri-Blocker" technology for multi-targeted siRNA cocktail design and "Snano" series of nanoparticle delivery systems enable its advanced RNAi therapeutic programs for treatment of various critical human conditions including aging diseases, infectious diseases and cancer. The leading product, STP601, a multi-targeted siRNA cocktail therapeutics for treatment of ocular neovascularization such as AMD, PDR and HSK, is expected to be in clinic in 2008, in addition to an enriched product pipeline of siRNA therapeutics. Since the summer of 2007, Sirnaomics has received a number of angel investments related to the State of Maryland Tax Credit Programs for Biotechnology Investment. The company has also received the TGP grant from Montgomery County and has recently been awarded a two-year MIPS grant jointly with Professor James Mixson of University of Maryland. In addition, the company has also received an investment from the State of Maryland DBED Challenge Investment Fund.
"The Governmental fundings play the critical role in Sirnaomics early stage financing," said the founder, President and CEO of the company, Dr. Patrick Y. Lu. "It not only supplies initial fuel for us to take off, but more importantly provides solid foundation for our staged financing strategy, to ensure the long term health of the company's financial structure." Dr. Lu further emphasized that the Sirnaomics case clearly reflects the governmental effort in providing favorable environment for biotech ventures and entrepreneurships in the State of Maryland. "Partnering with pharma and major biotech companies and obtaining venture capital investment will further strengthen Sirnaomics financial resource to allow us to validate the multi- targeted siRNA therapeutic approach in human," Lu said.
Sirnaomics, Inc. is a privately held Delaware corporation headquartered in Gaithersburg, Maryland, USA. Established by a group of leading scientists in the field of RNAi technology, the company has the mission of advancing RNAi technology for novel drug discovery and targeted therapeutics development. Members of the senior management come with over 50 years of combined experiences in both biopharmaceutical industry and finance and business management, to ensure the healthy growth of Sirnaomics as an international biopharmaceutical enterprise. The name of the company Sirnaomics (/ser-'now-miks/) is derived from the tech word "siRNA" with the suffix "-omics" to signify the study of the structure and function of small interfering RNA including their silencing properties and complex interplay with the targeted sequences inside cells.
CONTACT: Patrick Y. Lu, Ph.D. of Sirnaomics, Inc., +1-240-606-5039, or
fax, +1-301-869-2633, email@example.com
Web site: http://www.sirnaomics.com/