Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > Accelerator Corporation Creates Ninth Biotech Company - Takes Nanogen License to Create Novel Therapeutics

Abstract:
Accelerator Corporation, a privately-held biotechnology investment and development company today announced the formation of a new company, Mirina Corporation, focused on developing therapeutics using Minor Groove Binder technology to affect cellular processes involving microRNAs. Mirina, has exclusively licensed the technology from Nanogen, Inc. (NASDAQ: NGEN) for use in therapeutics and is Accelerator's first investment in a technology spinout from a publicly traded biotechnology company. The syndicate of investors leading the Series A investment in Mirina included Alexandria Real Estate Equities, Amgen Ventures, ARCH Venture Partners, OVP Venture Partners and WRF Capital.

Accelerator Corporation Creates Ninth Biotech Company - Takes Nanogen License to Create Novel Therapeutics

Seattle, WA | Posted on August 16th, 2008

Mirina's technology is based upon Nanogen's proprietary Minor Groove Binder technology for making novel microRNA (miRNA) therapeutics with enhanced properties. MiRNAs are a recently identified mechanism for gene regulation. Recent breakthroughs and potential applications of technologies to affect miRNAs and to use miRNA-based compounds as therapeutic agents have attracted interest from major biotechnology and pharmaceutical companies and resulted in several high-profile partnerships and mergers and acquisitions activity. By improving the properties of miRNA therapeutics, Mirina's technology presents promising potential for treating a wide range of diseases, including cancers, infectious diseases and various metabolic disorders.

Nanogen has developed and patented novel methods for preparing oligonucleotides appended with Minor Groove Binding (MGB) agents---chemical groups that have high affinity for helical DNA or RNA. This technology has been exploited by Nanogen for molecular diagnostics and has also been licensed by Applied Biosystems and ThermoFisher for research applications in Real Time PCR. By incorporating the MGB technology into miRNA therapeutics, Mirina's novel MGB-oligonucleotide compounds are anticipated to exhibit superior properties, such as enhanced target selectivity and significantly better potency.

David McElligott, Ph.D., formerly the Senior Director of Drug Discovery of ICOS, will be the Vice President of Research and Development for Mirina. During his 10 years at ICOS, Dr. McElligott coordinated the discovery and clinical entry of numerous early stage products. Prior to his ICOS employment, Dr. McElligott was an Assistant Professor at Scripps Research Institute. Collaborations with Nanogen will be overseen by Walt Mahoney, Ph.D., Vice President of Research and Development, who has led the efforts to develop the proprietary MGB technology.

"Working with Accelerator to license our technology to this new venture is an exciting new area for Nanogen," said Howard Birndorf, CEO of Nanogen, Inc. "Our MGB technology has been widely licensed for research and diagnostic applications. Extending its utility to therapeutics is in keeping with our mission to improve patient care and will provide the company with new opportunities for revenues from non-competing markets."

"Mirina is the ninth company in which we have invested at Accelerator," said Accelerator CEO Carl Weissman, "and it is the first based upon spinning technology out of an established publicly-traded biotechnology company. We are very excited to be entering the interesting area of nucleic acid-based therapeutics and believe that the Nanogen MGB technology should confer a significant advantage and differentiation to this effort."

"We continue to be impressed by Accelerator's ability to identify, evaluate and license novel and exciting proprietary technologies," said Steve Gillis, Managing Director of ARCH Venture Partners. "The field of miRNA holds great promise for treating a wide variety of diseases and we are confident that the proven MGB core technology will provide Mirina with significant advantages in this highly competitive and potentially lucrative area of therapeutic product development."

####

About Nanogen, Inc.
Nanogen, Inc., develops diagnostic products that enable physicians to deliver improved patient care. Its products allow faster and easier diagnosis, treatment and monitoring of cardiovascular disease and a range of infectious diseases. The company's products include molecular diagnostic kits and reagents, and kits for rapid point-of-care testing. Nanogen has pioneered the development of biomarkers, molecular biology technologies and nanotechnology to bring better results to diagnostics and healthcare.

About Accelerator Corporation

Accelerator Corporation, founded in 2003, is a privately–held biotechnology investment and development company located in Seattle, Washington, USA. The company is building the next generation of life-enhancing biotechnology companies by providing the resources critical to accelerating the development of nascent leading-edge biotechnologies. These key resources, provided by global life science leaders –Amgen Ventures, ARCH Venture Partners, OVP Venture Partners, Alexandria Real Estate Equities, Inc., WRF Capital, and the Institute for Systems Biology - include committed capital from top-tier venture capital firms, state-of-the-art facilities, world-class scientific and technical expertise and support, and experienced biotechnology start-up business management and support. For more information, please go to: www.acceleratorcorp.com.

For more information, please click here

Contacts:
Nanogen Corporate Headquarters
10398 Pacific Center Court
San Diego, CA 92121
877-626-6436
Fax: 858-410-4952

Copyright © Nanogen, Inc.

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

News and information

Imaging electric charge propagating along microbial nanowires October 20th, 2014

Design of micro and nanoparticles to improve treatments for Alzheimers and Parkinsons: At the Faculty of Pharmacy of the UPV/EHU-University of the Basque Country encapsulation techniques are being developed to deliver correctly and effectively certain drugs October 20th, 2014

Physicists build reversible laser tractor beam October 20th, 2014

Removal of Limitations of Composites at Superheat Temperatures October 20th, 2014

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

7th Nanotechnology Festival, Exhibition Kicks Off Work in Iran October 7th, 2014

Harris & Harris Group Letter to Shareholders on Website August 19th, 2014

Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 August 12th, 2014

SouthWest NanoTechnologies Inc. Announces $2.7 Million in New Financing to Fund Growth, Plant Expansion and Technical Personnel August 11th, 2014

Nanomedicine

Design of micro and nanoparticles to improve treatments for Alzheimers and Parkinsons: At the Faculty of Pharmacy of the UPV/EHU-University of the Basque Country encapsulation techniques are being developed to deliver correctly and effectively certain drugs October 20th, 2014

Non-Toxic Nanocatalysts Open New Window for Significant Decrease in Reaction Process October 19th, 2014

European Commission opens the gate towards the implementation of Nanomedicine Translation Hub October 16th, 2014

Tuning light to kill deep cancer tumors: Nanoparticles developed at UMass Medical School advance potential clinical application for photodynamic therapy October 15th, 2014

Announcements

Imaging electric charge propagating along microbial nanowires October 20th, 2014

Design of micro and nanoparticles to improve treatments for Alzheimers and Parkinsons: At the Faculty of Pharmacy of the UPV/EHU-University of the Basque Country encapsulation techniques are being developed to deliver correctly and effectively certain drugs October 20th, 2014

Physicists build reversible laser tractor beam October 20th, 2014

Removal of Limitations of Composites at Superheat Temperatures October 20th, 2014

Patents/IP/Tech Transfer/Licensing

Nanodevices for clinical diagnostic with potential for the international market: The development is based on optical principles and provides precision and allows saving vital time for the patient October 15th, 2014

Aculon Receives Patent for Application of Enhanced Bonding Layers on Titanium October 9th, 2014

harmaEngine will join Nanobiotix’ pivotal trial for NBTXR3 in Soft Tissue Sarcoma to accelerate its development in Asia-Pacific: PharmaEngine to make milestone payment to Nanobiotix in October 2014 to recognize the value created October 8th, 2014

‘Small’ transformation yields big changes September 16th, 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