Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

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

Harris & Harris Group Continues Its Blog Series to Highlight Most Impactful Portfolio Companies With Champions Oncology, Inc. April 17th, 2014

Nanometrics to Announce First Quarter Financial Results on April 29, 2014 April 9th, 2014

Harris & Harris Group Notes Mersana's Collaboration Agreement With Subsidiary of Takeda Pharmaceutical Co. April 8th, 2014

Harris & Harris Group Continues Its Blog Series to Highlight Most Impactful Portfolio Companies With Metabolon, Inc. April 7th, 2014

Nanomedicine

Innovative strategy to facilitate organ repair April 18th, 2014

Novel stapled peptide nanoparticle combination prevents RSV infection, study finds April 17th, 2014

More effective kidney stone treatment, from the macroscopic to the nanoscale April 17th, 2014

High-temperature plasmonics eyed for solar, computer innovation April 17th, 2014

Announcements

'Exotic' material is like a switch when super thin April 18th, 2014

Innovative strategy to facilitate organ repair April 18th, 2014

Oxford Instruments Asylum Research Introduces the MFP-3D InfinityTM AFM Featuring Powerful New Capabilities and Stunning High Performance April 18th, 2014

Transparent Conductive Films and Sensors Are Hot Segments in Printed Electronics: Start-ups in these fields show above-average momentum, while companies working on emissive displays such as OLED are fading, Lux Research says April 17th, 2014

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







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE