Home > Press > Medtronic Makes Equity Investment in NanoCor Therapeutics, Inc.
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
NanoCor Therapeutics, Inc.
Copyright © Business Wire 2007
If you have a comment, please Contact
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
Harris & Harris Group Invests in Unique NYC Biotech Accelerator July 29th, 2014
Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 July 23rd, 2014
Nanometrics Announces Upcoming Investor Events July 22nd, 2014
Harris & Harris Group Invests in UberSeq, Inc. July 16th, 2014
New imaging agent provides better picture of the gut July 30th, 2014
Zenosense, Inc. July 29th, 2014
Optimum inertial design for self-propulsion: A new study investigates the effects of small but finite inertia on the propulsion of micro and nano-scale swimming machines July 29th, 2014
FEI adds Phase Plate Technology and Titan Halo TEM to its Structural Biology Product Portfolio: New solutions provide the high-quality imaging and contrast necessary to analyze the 3D structure of molecules and molecular complexes July 28th, 2014
University of Manchester selects Anasys AFM-IR for coatings and corrosion research July 30th, 2014
Nature inspires a greener way to make colorful plastics July 30th, 2014
Analytical solutions from Malvern Instruments support University of Wisconsin-Milwaukee researchers in understanding environmental effects of nanomaterials July 30th, 2014
FEI Unveils New Solutions for Faster Time-to-Analysis in Metals Research July 30th, 2014