Functional Genetics, Inc. Announces Two Separate Awards from the United States Defense Threat Reduction Agency (DTRA) to Combat Viral Diseases
Gaithersburg, MD, December 01, 2006 --(PR.com)-- Functional Genetics, Inc. announced today that it has received two different awards from the United States Defense Threat Reduction Agency for the discovery and development of therapeutics for Ebola virus and other viral pathogens.
"These awards from DTRA will greatly assist our mission of discovering innovative means to combat infectious disease," said Michael Goldblatt, Chief Executive Officer of Functional Genetics. "Functional Genetics is committed to developing broad-spectrum, host-oriented therapeutics for the treatment of infectious diseases that impact both the civilian and military communities."
Under the agreement, Functional Genetics will direct the development of two distinct approaches to target virally-infected cells. Functional Genetics has been pioneering new opportunities to develop anti-infective therapeutics using its novel Host-Oriented Therapeutics (HOT) strategy. Funding from DTRA will sponsor the development of two very different, yet broad-based, therapeutics for viral disease. Both programs are specifically designed to overcome issues that have previously eluded anti-infective therapies, including acquired drug resistance and the relatively narrow spectrum of current therapies. These programs will include the development of at least one antibody product and one small molecule inhibitor of hemorrhagic fever viruses, including Ebola. Functional Genetics will conduct this program in collaboration with The US Army Medical Research Institute of Infectious Diseases (USAMRIID). The small molecule program will utilize novel technologies pioneered by an additional subcontractor, Evolva SA (Allschwil, Switzerland). These programs are intended to allow Functional Genetics to advance new therapeutic opportunities for viral infection to clinical trials. The initiation of this collaboration is another step in Functional Genetics’ ongoing commitment to develop innovative broad-spectrum anti-infectives.
About Functional Genetics, Inc.
Functional Genetics is a privately-held biopharmaceutcal company dedicated to advancing science to develop novel approaches that address intractable human diseases and means of accelerating therapeutic options. The Company was formed to leverage its proprietary Random Homozygous Gene Perturbation (RHGP) technology in the creation of new therapies and enhancement of industrial bioprocessing. The company's initial therapeutic products, through its enabling focus of Host Oriented Therapeutics, address the unmet medical need of developing highly effective broad spectrum therapies for infectious diseases. These broad spectrum products are designed to circumvent microbial resistance mechanisms that often lead to therapeutic failures. Functional Genetics has identified and is establishing medical validity of treatments that target host cellular proteins required for the propagation and pathogenicity of disease-causing viruses including HIV, Influenza, RSV, and diseases of bioterrorism such as Ebola. The Company is currently moving toward clinical testing of the first of its new generation of broad spectrum anti-viral products. The Company's first industrial product is an enhanced cell line whose individual cell productivity is significantly superior to those of existing cell lines. Functional Genetics is headquartered in Gaithersburg, Maryland. For more information, visit the company's website at http://www.functional-genetics.com.
About Evolva.
Evolva evolves small molecule drugs using massively combinatorial gene libraries that drive chemistry rich pathways. Its Watchmaker® technology platform replicates, on an industrial basis, the ability of nature to evolve molecules with exquisite “design”, but with the evolution directly aimed at making functional drugs – HIV blockers, anti-obesity compounds etc. Watchmaker® can create, optimize and manufacture molecules that are outside the scope of the traditional synthetic approaches of the industry. For more information see www.evolva.com
About the Defense Threat Reduction Agency (DTRA)
The Defense Threat Reduction Agency (DTRA) safeguards America and its allies from weapons of mass destruction by providing capabilities to reduce, eliminate, and counter the threat, and mitigate its effects. This Department of Defense agency is located at Fort Belvoir, Virginia, and operates field offices worldwide. For further information see www.dtra.mil
This announcement contains, in addition to historical information, certain forward-looking statements that involve risks and uncertainties, in particular, related to the research and development of a potential treatment for viral diseases. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from those currently anticipated. There can be no assurance that such development efforts will succeed, that such products will receive required regulatory clearance or that, even if such regulatory clearance is received, such products will ultimately achieve commercial success.
SOURCE: Functional Genetics, Inc.
CONTACT: Media: Michael Kinch at +1-240-631-6799.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Functional Genetics’ business which are not historical facts are "forward-looking statements" that involve risks and uncertainties.
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"These awards from DTRA will greatly assist our mission of discovering innovative means to combat infectious disease," said Michael Goldblatt, Chief Executive Officer of Functional Genetics. "Functional Genetics is committed to developing broad-spectrum, host-oriented therapeutics for the treatment of infectious diseases that impact both the civilian and military communities."
Under the agreement, Functional Genetics will direct the development of two distinct approaches to target virally-infected cells. Functional Genetics has been pioneering new opportunities to develop anti-infective therapeutics using its novel Host-Oriented Therapeutics (HOT) strategy. Funding from DTRA will sponsor the development of two very different, yet broad-based, therapeutics for viral disease. Both programs are specifically designed to overcome issues that have previously eluded anti-infective therapies, including acquired drug resistance and the relatively narrow spectrum of current therapies. These programs will include the development of at least one antibody product and one small molecule inhibitor of hemorrhagic fever viruses, including Ebola. Functional Genetics will conduct this program in collaboration with The US Army Medical Research Institute of Infectious Diseases (USAMRIID). The small molecule program will utilize novel technologies pioneered by an additional subcontractor, Evolva SA (Allschwil, Switzerland). These programs are intended to allow Functional Genetics to advance new therapeutic opportunities for viral infection to clinical trials. The initiation of this collaboration is another step in Functional Genetics’ ongoing commitment to develop innovative broad-spectrum anti-infectives.
About Functional Genetics, Inc.
Functional Genetics is a privately-held biopharmaceutcal company dedicated to advancing science to develop novel approaches that address intractable human diseases and means of accelerating therapeutic options. The Company was formed to leverage its proprietary Random Homozygous Gene Perturbation (RHGP) technology in the creation of new therapies and enhancement of industrial bioprocessing. The company's initial therapeutic products, through its enabling focus of Host Oriented Therapeutics, address the unmet medical need of developing highly effective broad spectrum therapies for infectious diseases. These broad spectrum products are designed to circumvent microbial resistance mechanisms that often lead to therapeutic failures. Functional Genetics has identified and is establishing medical validity of treatments that target host cellular proteins required for the propagation and pathogenicity of disease-causing viruses including HIV, Influenza, RSV, and diseases of bioterrorism such as Ebola. The Company is currently moving toward clinical testing of the first of its new generation of broad spectrum anti-viral products. The Company's first industrial product is an enhanced cell line whose individual cell productivity is significantly superior to those of existing cell lines. Functional Genetics is headquartered in Gaithersburg, Maryland. For more information, visit the company's website at http://www.functional-genetics.com.
About Evolva.
Evolva evolves small molecule drugs using massively combinatorial gene libraries that drive chemistry rich pathways. Its Watchmaker® technology platform replicates, on an industrial basis, the ability of nature to evolve molecules with exquisite “design”, but with the evolution directly aimed at making functional drugs – HIV blockers, anti-obesity compounds etc. Watchmaker® can create, optimize and manufacture molecules that are outside the scope of the traditional synthetic approaches of the industry. For more information see www.evolva.com
About the Defense Threat Reduction Agency (DTRA)
The Defense Threat Reduction Agency (DTRA) safeguards America and its allies from weapons of mass destruction by providing capabilities to reduce, eliminate, and counter the threat, and mitigate its effects. This Department of Defense agency is located at Fort Belvoir, Virginia, and operates field offices worldwide. For further information see www.dtra.mil
This announcement contains, in addition to historical information, certain forward-looking statements that involve risks and uncertainties, in particular, related to the research and development of a potential treatment for viral diseases. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from those currently anticipated. There can be no assurance that such development efforts will succeed, that such products will receive required regulatory clearance or that, even if such regulatory clearance is received, such products will ultimately achieve commercial success.
SOURCE: Functional Genetics, Inc.
CONTACT: Media: Michael Kinch at +1-240-631-6799.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Functional Genetics’ business which are not historical facts are "forward-looking statements" that involve risks and uncertainties.
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Contact
Functional Genetics, Inc.
Michael Kinch
240-631-6790
www.functionalgenetics.com
Michael Kinch
240-631-6790
www.functionalgenetics.com
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