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| OrphageniX develops pharmaceutical solutions for people with presently incurable genetic diseases. The basic chemistry of OrphageniX drug candidates are patented single stranded DNA oligonucleotides.
Founded in Wilmington, Delaware, OrphageniX is a biopharmaceutical company launched in 2007 to commercialize the Company’s dominant IP portfolio covering targeted gene alteration (TGA). OrphageniX owns the worldwide exclusive license for gene editing using single stranded oligonucleotides invented by University of Delaware researcher Dr. Eric Kmiec. The Company has assembled an experienced management team, created strategic plans for therapeutic development and selected target areas of critical unmet need.
OrphageniX Inc., Biotechnology Firm, Selects Wilmington, Delaware as its Corporate Headquarters Wilmington, DE, April 13, 2007 - OrphageniX, Inc., an innovative biotechnology company focused on correcting genes that cause "orphan diseases", announced today that it has established business operations in Wilmington, Delaware. OrphageniX, Inc. was co-founded by University of Delaware researchers Dr. Eric Kmiec, Professor of Biological Sciences, and Hetal Parekh-Olmedo, Senior Research Associate. The Company intends to develop and commercialize their patented gene repair technology, which is designed to correct genes causing hereditary diseases such as sickle cell anemia and Hemophilia that are caused by single point mutations. These rare diseases are often called 'orphan diseases' because they affect fewer than 200,000 people. OrphageniX has licensed the gene repair patents from the University of Delaware. OrphageniX was founded and incubated in 2005 at the University of Delaware's Delaware Biotechnology Institute in the Delaware Technology Park, Newark, DE. The Company recently closed an initial round of funding from a group of local, private investors, further boosting the state's efforts to attract entrepreneurs and life science firms. "We are delighted that we now have the opportunity to commercialize our gene editing technology and help bring those at risk of these diseases a higher quality of life," said Dr. Kmiec who is considered a pioneer in the field. "The techniques have advanced to the point where this important science can now be commercialized." According to Board Chair Jeffrey Rollins, "OrphageniX is the kind of company that we envision leading the resurgence of entrepreneurialism in Delaware. And, it is a great example of the world class talent we are capable of attracting when everyone works together. A vote of thanks goes to First State Innovation for facilitating this process." The OrphageniX Board has appointed Michael Herr as Chief Executive Officer. Herr was previously Director, Science and Technology, University City Science Center of Philadelphia. "Our immediate strategy is to advance to clinical trials, assemble a leadership team around our renowned Scientific Founders, and identify strategic partners." said Herr. The Company expects its patented technology to provide significant competitive advantage. Herr said, "Gene repair is focused on correcting a patient's own genes to make their own proteins, which should make gene repair a safer approach than treating with foreign genes or protein replacements. The innovative gene repair technology holds promise to eventually cure, not just to treat, these significant diseases." This does not constitute an offer to sell or solicitation of an offer to buy any securities in the Company. |
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