Genisphere Raises $7 Million to Advance 3DNA Drug Delivery System
Wednesday, November 01, 2017 | Earnings & Financials
Genisphere announced it has completed a $7 million capital raise to advance its 3DNA nanotechnology platform for targeted drug delivery and to serve other corporate purposes. Genisphere completed the raise to support accelerating interest in advancing its 3DNA scaffold into the clinic and enabling follow-on studies and programs currently underway with biotech and pharma partners.
This round of proceeds will expand development of Genisphere's 3DNA nanotechnology, which allows multivalent combinations of payload and cell-specific targeting molecules in a single therapeutic entity. According to the company, active targeting guides drug to the disease site to increase efficacy, while degradation and clearance reduce payload toxicity, collectively raising therapeutic index. Genisphere has published preliminary studies describing therapeutic 3DNA-based candidates for oncology, ophthalmology, neurology, and other indications.
"The progress Genisphere has made with its academic and commercial partners, and on its own with contract research organizations, supported this raise," Tom Bliss, CEO at Genisphere, said in a company news release. "The funds will allow us to build our licensing business whereby we create for our partners 3DNA-enabled therapeutics that demonstrate the clear advantage of combining disease-site-specific targeting with a potent payload to improve therapeutic index."
One of Genisphere's partners is Dr. Michael Pishvaian, Phase I Program Director at Georgetown University's Lombardi Comprehensive Cancer Center. Dr. Pishvaian remarked, "I'm seeing exciting efficacy results of 3DNA as a nanotherapy in an in vivo model for pancreatic cancer. It is time to look forward and get started preparing the clinical protocol for humans. Whether used as a monotherapy or together with clinically available medicines, therapeutic combinations with 3DNA may improve outcomes for patients."
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