20th December, 2006
Evolva Announces Collaboration with Functional Genetics on $ 28 Million Award from the United States Defense Threat Reduction Agency
Evolva Biotech SA (Allschwil, Switzerland) a biotech company focused on the discovery and development of drugs based on genetic chemistry approaches today announced that it has entered an agreement with Functional Genetics, Inc. (Gaithersburg, Maryland) on a $ 28 million award from the United States Defense Threat Reduction Agency (DTRA) for the discovery and development of therapeutics that improve the ability of humans to resist haemorrhagic fever viruses, in particular Ebola.
The program will, over a four year period, discover and develop compounds through to the filing of Investigational New Drug applications. Functional Genetics is the prime contractor on the program. Evolva will provide the program with access to its Watchmaker® technology platform and certain assays, as well as certain aspects of pre-clinical development.
Neil Goldsmith, Managing Director of Evolva, said “This second DTRA program (following the award we announced last month) further extends the potential applicability of our genetic chemistry technologies. It allows us to build a pipeline of compounds with antiviral effects, including compounds that potentially have broad spectrums of antiviral activity. Our partners on the award are providing invaluable knowledge of relevant targets and disease biology”
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 Functional Genetics. Functional Genetics 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 viral diseases. Functional Genetics has identified and is establishing the 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. For further information see www.functional-genetics.com.
Contact Details
Neil Goldsmithneilg@evolva.com
Tel +41 61 485 2000 Michael Kinch
mkinch@functional-genetics.com
Tel +1 240-631-6799