Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Medtronic Makes Equity Investment in NanoCor Therapeutics, Inc.

Abstract:
NanoCor Therapeutics, Inc. (NanoCor) today announces an investment by Medtronic, Inc. of $3.75 million. NanoCor intends to use this investment to develop and commercialize a gene therapy based therapeutic for Congestive Heart Failure (CHF). Medtronic has also agreed to invest an additional $3.75 million upon NanoCor meeting certain milestones. NanoCor, an affiliate of Asklepios BioPharmaceutical, Inc. (AskBio), was created to focus on therapeutic cardiac applications and is engaged in the development of proprietary treatments for CHF.

Medtronic Makes Equity Investment in NanoCor Therapeutics, Inc.

CHAPEL HILL, NC | Posted on September 10th, 2007

In connection with the investment, Medtronic acquires certain rights to exclusively license NanoCor's CHF therapeutic. NanoCor's therapeutic consists of the delivery of a proprietary gene developed at the Massachusetts General Hospital and the University of Cincinnati. The gene will be delivered with AskBio's proprietary Biological NanoParticle (BNP™) and Self-Complementary vector technologies, which are derived from human adeno-associated virus vectors (rAAV). This technology was developed at the University of North Carolina at Chapel Hill (UNC) and exclusively licensed to AskBio. In addition, Medtronic acquires certain rights to develop AskBio's BNP™ and Self-Complimentary technologies for the treatment of Central Nervous System (CNS) diseases.

About Congestive Heart Failure

CHF is a condition in which the heart is unable to supply sufficient amounts of blood and oxygen to the body. CHF can result from conditions that weaken the heart muscle, cause stiffening of the heart muscles, or increase oxygen demand by the body tissue beyond the heart's capability to deliver. Approximately five million patients in the US suffer from CHF.

####

About NanoCor Therapeutics, Inc.
NanoCor Therapeutics, Inc. ( http://www.nanocorthx.com ) is a privately held biotechnology company founded to treat CHF at the molecular level. Using the BNP™ and Self-Complementary technology platforms and a novel, patent-protected gene, NanoCor intends to provide patients currently suffering from CHF with an effective, safe, and non-invasive treatment. NanoCor Therapeutics, Inc. is a subsidiary of AskBio.

About Asklepios BioPharmaceutical, Inc.

AskBio (www.askbio.com) was spun out of UNC and is engaged in the development of novel, intracellular protein therapeutics using its BNPTM and Self-Complementary technologies. BNPsTM may be used to deliver a broad variety of biological material, including therapeutic genes, RNAi, and vaccines, among others, to specific tissues. The company is developing therapeutics for muscular dystrophy (collaborating with the Muscular Dystrophy Association), bone regrowth (collaborating with the Musculoskeletal Tissue Foundation), and hemophilia.

For more information, please click here

Contacts:
NanoCor Therapeutics, Inc.
Sheila Mikhail
919-942-0252

Copyright © Business Wire 2007

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

Investments/IPO's/Splits

Nanometrics to Participate in the Citi 2015 Global Technology Conference August 26th, 2015

Nanostart AG: First-half figures 2015 published and new supervisory board elected : Publication of first-half figures 2015 - Shareholders' meeting elected new supervisory board August 22nd, 2015

Harris & Harris Group Portfolio Company, AgBiome, Secures $34.5 Million Series B Financing Led By Bill and Melinda Gates Foundation August 20th, 2015

Harris & Harris Group Reports Financial Statements as of June 30, 2015, and Announces a Stock Repurchase Program August 10th, 2015

Nanomedicine

Iranian Scientists Use Artemisia Annua Plant to Produce Breast Cancer Drugs August 29th, 2015

Small but heading for the big time: Nanobiotix half year results for the six months ended 30 June 2015, in line with expectations: Major clinical achievements and corporate developments August 28th, 2015

A new technique to make drugs more soluble August 28th, 2015

These microscopic fish are 3-D-printed to do more than swim: Researchers demonstrate a novel method to build microscopic robots with complex shapes and functionalities August 26th, 2015

Announcements

Iranian Scientists Use Artemisia Annua Plant to Produce Breast Cancer Drugs August 29th, 2015

Small but heading for the big time: Nanobiotix half year results for the six months ended 30 June 2015, in line with expectations: Major clinical achievements and corporate developments August 28th, 2015

A new technique to make drugs more soluble August 28th, 2015

Nanocatalysts improve processes for the petrochemical industry August 28th, 2015

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic