Genisphere Closes $4 Million for Expansion of 3DNA® Targeted Drug Delivery Platform
HATFIELD, Penn., Oct. 1, 2015 /PRNewswire/ -- Genisphere LLC, provider of the 3DNA® nanotechnology platform, announced it has closed a $4mm equity round. This round of fundraising will extend and expand development of Genisphere's targeted drug delivery platform, with the goal to license the 3DNA® platform to pharmaceutical partners and complete the pre-clinical work necessary to advance the Company's lead drug candidates.
One of the significant investors is Main Line Health's Lankenau Institute for Medical Research (LIMR), a nonprofit biomedical research center, committed to investing in promising and innovative research that will advance medical breakthroughs, improve patient care and contribute to positive outcomes. George Prendergast, LIMR President and CEO, said, "We are looking forward to collaborating with Genisphere to fulfill our mission of translating our promising research into practical application at the bedside."
Previously, Genisphere established several programs and key collaborations to generate preclinical data showing the versatility and efficacy of the 3DNA® platform in targeted delivery of small molecules, biologics, and nucleic acids. Bob Getts, Chief Science Officer at Genisphere, said, "The results from each of our studies support the value of targeting and the versatility of the platform to cross biological barriers, like the blood brain barrier, to deliver therapeutic candidates. Our efficacy data continues to demonstrate that we can impact tumor growth and increase the life span in our treatment groups using a variety of therapeutic candidates, including small drugs and siRNAs." According to Getts, the recent funds will be used to support focused pre-clinical projects designed to mature one of the company's therapeutic leads with an eye on the clinic and getting first in human data.
Genisphere's newly-appointed CEO, Tom Bliss, pointed out while research has shown DNA to be a non-toxic, biocompatible drug delivery material, Genisphere is the only commercial source of DNA-based nanocarriers. He summarized, "The Company has built a strong portfolio in the area of drug delivery. We are uniquely positioned to continue to support our pharmaceutical partners and complete the GLP work necessary for an IND filing."
Genisphere will showcase its latest developments in ophthalmology and oncology at the Partnering Opportunities in Drug Delivery conference in Boston, MA from October 5-6.
Genisphere LLC is the provider of the 3DNA® platform for targeted drug delivery. 3DNA® is a nanoscale, multivalent scaffold made from proprietary, synthetic DNA formed in a flexible, branched structure. 3DNA® nanocarriers are engineered and cross-linked to form a stable architecture while maintaining the biocompatibility of the nucleic-acid building blocks, and demonstrate efficacy and safety with a variety of drug cargos across multiple indications. Genisphere's technology is IP-protected and fully customizable to deliver small molecules, biologics, and nucleic acids with precise specificity enabled by multivalent targeting via antibodies, peptides and other molecular entities. Genisphere leverages a collaborative model to advance its 3DNA® drug delivery platform, and seeks additional partnerships with biotechnology and pharmaceutical companies to improve efficacy and reduce toxicity. Genisphere is also advancing its own lead compounds based on 3DNA® nanotechnology. For more information, please visit http://genisphere.com.
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SOURCE Genisphere LLC