Rosetta Genomics and Ramot at Tel Aviv University Awarded Grant From Israeli
Office of the Chief Scientist to Support Development of
microRNA Oncology Therapeutics
PHILADELPHIA, PA and REHOVOT, ISRAEL and TEL AVIV, ISRAEL --
(Marketwired) -- 08/08/13 -- Rosetta Genomics Ltd. (NASDAQ: ROSG), a
leading developer and provider of microRNA-based molecular
diagnostics, and Ramot, the technology transfer company of Tel Aviv
University, announces that the Israeli Office of the Chief Scientist
(OCS) has awarded both companies a grant in the amount of 650,000 NIS
(~200,000 USD) to support the first year development of oncology
therapeutics utilizing Rosetta Genomics' novel microRNA technology
combined with Tel Aviv University's novel delivery system.
The grant will be used to fund collaborative work between Rosetta
Genomics and Prof. Ronit Satchi-Fainaro, Department of Physiology and
Pharmacology, Sackler School of Medicine, Tel Aviv University (TAU),
for the development of a duplex RNA molecule that mimics the sequence
and activity of miR-34a in combination with a polymeric delivery
system for the treatment of cancer.
miR-34a is a tumor suppressor microRNA that is down-regulated in many
cancers, and it is believed that replacing miR-34a holds great
therapeutic potential. TAU has developed a novel polymeric delivery
system that is a water-soluble hyperbranched polymer that accumulates
in the tumor environment due to the enhanced permeability and
retention effect, a hallmark of angigoenic blood vessels. As such, it
represents an attractive delivery vehicle for antitumor biological
The Company plans to work with TAU on the preparation and
characterization of miR-34a polyplex as well as in vitro and in vivo
efficacy studies in the second year.
"We are pleased the OCS is funding this important therapeutic program
and are delighted to be working with Prof. Satchi-Fainaro, a leading
expert in her field. We believe the combination of a known microRNA
with TAU's novel carrier system may provide a new and more effective
approach to treating cancer," stated Kenneth A. Berlin, President and
Chief Executive Officer of Rosetta Genomics.
"The growing understanding of the importance of microRNAs has
generated intense activity in the biomedical research community.
Rosetta has been at the forefront of this scientific revolution and
holds the leading intellectual property position in the field. Our
goal is to leverage our broad-based patent position in microRNA
technology to bring innovative new diagnostics and therapies to
patients in need, while creating new revenue sources for the Company.
In addition to oncology, we are pursuing this strategy in infectious,
autoimmune-mediated and cardiovascular diseases," concluded Mr.
"This polymeric carrier system, as well as other drug delivery
technologies, are the fruits of innovative life science and medical
research performed at TAU. We believe that our collaboration with
Rosetta Genomics will lead to the development of long sought-after
effective treatment for some of the most devastating cancers known to
date," commented Dr. Tamar Raz, VP Marketing and Strategy of Ramot.
"The OCS' support in translational research is leading growth engine
and we are pleased to have the opportunity to further develop this
important research in cooperation with a pioneering leading company
in this field."
About The Office of the Chief Scientist
The OCS is the arm of the
Israeli government tasked with cultivating the development of
industrial R&D within the State of Israel. The mission of the OCS, as
defined by the "Law for the Encouragement of Industrial Research and
Development-1984," is to assist the advancement of Israel's
knowledge-based science and technology industries in order to
encourage entrepreneurship and innovative technology development.
This support plays a role in stimulating economic growth within
Israel and in keeping Israel on the competitive edge of the global
About Rosetta Genomics
Rosetta develops and commercializes a full
range of microRNA-based molecular diagnostics. Founded in 2000,
Rosetta's integrative research platform combining bioinformatics and
state-of-the-art laboratory processes has led to the discovery of
hundreds of biologically validated novel human microRNAs. Building on
its strong patent position and proprietary platform technologies,
Rosetta is working on the application of these technologies in the
development and commercialization of a full range of microRNA-based
diagnostic tools. Rosetta's cancer testing services are commercially
available through its Philadelphia-based CAP-accredited,
CLIA-certified lab. Frost & Sullivan recognized Rosetta Genomics with
the 2012 North American Next Generation Diagnostics Entrepreneurial
Company of the Year Award.
About Ramot at Tel Aviv University
Ramot is the technology transfer
company of Tel Aviv University. Ramot fosters, initiates, leads and
manages the transfer of new technologies from university laboratories
to the marketplace by performing all activities relating to the
protection and commercialization of inventions and discoveries made
by faculty, students and other researchers. Ramot provides a dynamic
interface connecting industry to leading-edge science and innovation,
offering new business opportunities in a broad range of emerging
markets. For more information, visit www.ramot.org.
Forward-Looking Statement Disclaimer
Various statements in this
release concerning Rosetta's future expectations, plans and
prospects, including without limitation, the potential execution of a
licensing agreement between Rosetta and Tel Aviv University,] the
potential for collaborative work between Rosetta and Tel Aviv
University, Rosetta's development of a duplex RNA molecule that
mimics the sequent and activity of miR-34a in combination with a
polymeric delivery system for the treatment of cancer in general and
GBM in particular, Rosetta's development of personalized medicine
products and services constitute forward-looking statements for the
purposes of the safe harbor provisions under The Private Securities
Litigation Reform Act of 1995. Actual results may differ materially
from those indicated by these forward-looking statements as a result
of various important factors, including those risks more fully
discussed in the "Risk Factors" section of Rosetta's Annual Report on
Form 20-F for the year ended December 31, 2012 as filed with the SEC.
In addition, any forward-looking statements represent Rosetta's views
only as of the date of this release and should not be relied upon as
representing its views as of any subsequent date. Rosetta does not
assume any obligation to update any forward-looking statements unless
required by law.
President & CEO
(609) 419-9000, ext. 1326
Anne Marie Fields
Ramot at Tel Aviv University Ltd.
Dr. Tamar Raz
VP Marketing and Strategy
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