Navigation Links
Intradigm Closes Final Tranche of $21.4 Million Series B Financing
Date:1/7/2009

PALO ALTO, Calif., Jan. 7 /PRNewswire/ -- Intradigm Corporation, a leading developer of targeted, systemic RNA interference (RNAi) therapeutics, today announced that the company has closed the final tranche of its Series B financing. Astellas Venture Management led the $2.9 million tranche, with existing investor, Lilly Ventures, also participating. The addition of these funds brings the total Series B financing to $21.4 million. Intradigm will use Series B funds to advance its RNAi therapeutics platform, which is comprised of both its siRNA intellectual property, as well as its proprietary delivery technology, toward the development of systemic siRNA therapeutic candidates with an initial focus on cancer targets.

"Intradigm's uniquely comprehensive approach to developing RNAi therapeutics, which encompasses safe and effective delivery, proprietary siRNA sequences and novel structural features for RNAi molecules, makes the company an attractive investment in the rapidly growing RNAi space," said Shinja Yano, Ph.D., president and chief executive officer, Astellas Venture Management LLC. "We are excited to join Intradigm's group of investors and look forward to contributing to the company's future success in recognizing the substantial promise of RNAi as a therapeutic class."

Intradigm today also provided an update on recent corporate developments, announcing that Mohammad Azab, M.D., has resigned his position as chief executive officer but will retain his position on Intradigm's board of directors. Dr. Azab will be succeeded as chief executive officer by Philip Haworth, Ph.D., who previously served as the company's vice president of business development.

"The board would like to thank Dr. Azab for his valuable contributions to building the company and successfully raising the recent Series B financing. We are delighted that he will continue his strategic role on Intradigm's board," said Jamie Topper, M.D., Ph.D., the chairman of the board of Intradigm. "At the same time, we are excited to have Dr. Haworth assume the role of CEO and apply his impressive breadth of industry experience to the continued success of the company."

Dr. Haworth possesses more than 15 years of management experience in the biotechnology industry. He has previously held senior executive roles at several leading biotechnology companies including Genencor International and COR Therapeutics, among others. In these positions, he led the identification and negotiation of numerous collaborative and licensing agreements with a range of global and regional pharmaceutical companies. He possesses deep operational expertise that spans discovery and development, technology and product licensing, mergers and acquisitions, and financings.

"I am pleased to have the opportunity to support Intradigm's exceptional team as we work to further strengthen the company's position of leadership in the RNAi sector," said Dr. Haworth. "Astellas' decision to join our experienced investor base, as well as Lilly Ventures' desire to increase its investment, provides additional support and validation for Intradigm and our ongoing development efforts in the promising area of RNAi."

ABOUT INTRADIGM

Intradigm is a private biotechnology company committed to the discovery, development and delivery of targeted, systemic RNA interference (RNAi) therapeutics for the treatment of serious diseases with an initial focus on oncology. Intradigm is unique among private companies, with its comprehensive RNAi therapeutics platform consisting of structural features for next-generation RNAi molecules, biodegradable polycationic polymers for the delivery of RNAi therapeutics and proprietary siRNA sequence applications. Our proprietary delivery technology is unique in its potential to offer safe and effective systemic administration using a library of novel peptide-based biodegradable polymers.

We have established an impressive proprietary portfolio of siRNA sequences against more than 50 highly valued oncology and other disease targets. In addition, we have secured an exclusive license to the Zamore patent family from the University of Massachusetts, which covers broad structural features of siRNA design for more potent next-generation siRNA sequences. Our goal is to grow Intradigm to become a leading company in enabling the development of novel RNAi therapeutics against a broad range of therapeutic targets using our siRNA sequences and delivery technology.

For more information on Intradigm, please visit http://www.intradigm.com.


'/>"/>
SOURCE Intradigm Corporation
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Intradigm Licenses Key Next Generation RNA Interference (RNAi) Intellectual Property From University of Massachusetts Medical School
2. Intradigm Announces Issuance of Key Patent Related to Enhancing Efficacy and Potency of RNAi Therapeutics
3. OncoVista, Inc. Closes on $6.8 Million Financing and Acquires Control of a Public Shell Company
4. Genmab Discloses Target and Development Plans for HuMax-Inflam
5. Oxford Finance Corporation Closes $7 Million Debt Facility with Othera Pharmaceuticals
6. RoundTable Healthcare Partners Closes Sale of MedAssist Holding, Inc. to Firstsource Solutions Limited
7. Gilde Healthcare Partners Closes EUR 150 Million European Healthcare Venture Fund
8. Symmetry Medical Discloses Accounting Issues at Sheffield, UK Operating Unit and Possible Restatement
9. BioVex Closes Second Round of Series E Financing
10. Pharmaxis Closes Share Purchase Plan
11. The closest look ever at native human tissue
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... June 23, 2016 ... 2016;12(1):22-8 http://doi.org/10.17925/OHR.2016.12.01.22 Published recently ... peer-reviewed journal from touchONCOLOGY, Andrew D Zelenetz ... of cancer care is placing an increasing burden ... expensive biologic therapies. With the patents on many ...
(Date:6/23/2016)... ... June 23, 2016 , ... ... line of intelligent tools designed, tuned and optimized exclusively for Okuma CNC machining ... Chicago. The result of a collaboration among several companies with expertise in toolholding, ...
(Date:6/22/2016)... DUBLIN , June 22, 2016 Research ... and Global Markets" report to their offering. ... $39.4 billion in 2014 from $29.3 billion in 2013. The market ... (CAGR) of 13.8% from 2015 to 2020, increasing from $50.6 billion ... and projected product forecasts during the forecast period (2015 to 2020) ...
(Date:6/22/2016)... SAN DIEGO , June 22, 2016   ... the first pluripotent stem cell-derived islet replacement therapy for ... two presentations at ISSCR 2016 Annual Meeting.  ISSCR 2016, ... 22nd to 25th at Moscone West in San Francisco.  ... Details of the presentations are as follows:Event: , Focus ...
Breaking Biology Technology:
(Date:6/9/2016)... ISTANBUL , June 9, 2016  Perkotek an innovation leader in attendance control ... to seamlessly log work hours, for employers to make sure the right employees are ... Logo - http://photos.prnewswire.com/prnh/20160609/377486LOGO ... ... ...
(Date:6/2/2016)... 2016 The Department of Transport Management ... 44 million US Dollar project, for the , ... Personalization, Enrolment, and IT Infrastructure , to ... and implementation of Identity Management Solutions. Numerous renowned international vendors ... Decatur was selected for the most compliant and ...
(Date:5/24/2016)... 2016 Ampronix facilitates superior patient care by providing unparalleled technology to leaders ... is the latest premium product recently added to the range of products distributed by ... ... ... LCD Medical Display- Ampronix News ...
Breaking Biology News(10 mins):