Agilis Biotherapeutics Completes $8 Million Financing to Develop DNA-based
Therapeutics for Rare Diseases
NEW YORK -- December 31, 2013
Agilis Biotherapeutics, LLC, a synthetic biology-based company focused on rare
genetic diseases, announced today that the company has completed an $8 million
Proceeds from the financing will be used for Agilis’ initial focus on
developing a treatment for Friedreich’s ataxia (FRDA) in collaboration with
Intrexon Corporation (NYSE: XON), a leader in the field of synthetic biology.
Agilis and Intrexon recently executed an Exclusive Channel Collaboration (ECC)
through which Agilis intends to develop and commercialize novel DNA-based
therapeutics for the treatment of FRDA. Under the ECC Agilis also has an
option to expand its relationship with Intrexon by adding another rare genetic
disease to the collaboration.
About Friedreich’s Ataxia
Friedreich’s ataxia is a rare genetic neurodegenerative disease that results
in a physically debilitating, life shortening condition. FRDA is caused by
defect in a gene (the “FXN gene”) that results in limited production of an
important protein called frataxin which functions in the mitochondria (the
“powerhouses “) of the cell. FRDA is the most common hereditary ataxia with an
estimated 5,000 to 10,000 patients in the US. Progression of this disease
causes nervous system damage, problems with movement, and finally early death
resulting from cardiac malfunction. There are currently no FDA-approved
treatment options for FRDA. For more information about these and other rare
and neglected diseases please visit: Friedreich’s Ataxia Research Alliance
(FARA) www.curefa.org; National Ataxia Foundation (NAF) www.ataxia.org;
Muscular Dystrophy Association www.mda.org; and National Institute of
Neurological Disorders and Stroke www.ninds.nih.gov.
About Agilis Biotherapeutics, LLC
Agilis Biotherapeutics, LLC, is a biotechnology company focused on designing
and engineering first-in-class DNA-based therapeutics to improve and save the
lives of patients affected by life-threatening or fatal rare diseases for
which there are no or limited treatment options. We believe that engineered
DNA-based therapeutics provide the ability to target underlying disease
mechanisms with tightly-controlled multigenic modalities leading to
“functional cures” for patients with these diseases.
We invite you to visit our website at www.agilisbio.com.
Safe Harbor Statement
Some of the statements made in this press release are forward-looking
statements. These forward-looking statements are based upon our current
expectations and projections about future events and generally relate to our
plans, objectives and expectations for the development of our business.
Although management believes that the plans and objectives reflected in or
suggested by these forward-looking statements are reasonable, all
forward-looking statements involve risks and uncertainties and actual future
results may be materially different from the plans, objectives and
expectations expressed in this press release.
George S. Zorich, 301-944-2884
Chief Executive Officer
Press spacebar to pause and continue. Press esc to stop.