Intradigm announces - Frazier Healthcare
Intradigm announces - Frazier Healthcare
Intradigm announces - Frazier Healthcare
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Contact: Traci Carter<br />
<strong>Intradigm</strong> Corporation<br />
Phone: 650-855-9696<br />
E-mail: tcarter@intradigm.com<br />
General e-mail: info@intradigm.com<br />
<strong>Intradigm</strong> <strong>announces</strong> significant enhancements of the company capabilities, a new<br />
series A financing and important addition to senior management team<br />
Palo Alto, CA., November 21, 2006 –<strong>Intradigm</strong> Corporation, a privately held biotechnology drug<br />
development company focused on the discovery and development of RNA interference (RNAi)<br />
therapeutics for the treatment of diseases with unmet medical needs, has achieved several significant<br />
corporate developments. These developments encompass strengthening the senior management<br />
team, completing a $16 million Series A financing, and establishing a new research and drug<br />
development facilities in Palo Alto, CA.<br />
<strong>Intradigm</strong> was formed in 2000 to develop proprietary nucleic acid delivery technology. The<br />
fundamental platform of <strong>Intradigm</strong>’s technology is a ligand-targeted nanoparticle system that is capable<br />
of systemic delivery of multiple RNAi molecules targeting different genes.<br />
“The discovery that RNAi can silence gene expression is a major scientific breakthrough, and has led to<br />
numerous developments towards the use of this technology as a treatment modality” said Dr.<br />
Mohammad Azab, CEO of <strong>Intradigm</strong>, “However, the translation of that discovery to a therapeutic drug is<br />
hampered by lack of effective delivery systems. <strong>Intradigm</strong> is developing such a system and we intend to<br />
aggressively pursue the realization of the therapeutic promise of RNAi using our technology”<br />
New research and drug development facilities in Palo Alto, CA<br />
In October, <strong>Intradigm</strong> opened new facilities in Palo Alto. As a result the company’s headquarters is<br />
now moved to Palo Alto from Rockville, MD. The new location allows the company to draw on the large<br />
pool of skilled biotechnology research and development expertise in the Bay area to efficiently pursue<br />
proof–of–concept preclinical and clinical programs<br />
Strengthening Management Team<br />
In the last several months, <strong>Intradigm</strong> has extended the strength of its management team with the<br />
following additions:<br />
� Mohammad Azab, MD, MSc, MBA – President & CEO<br />
Dr. Mohammad Azab joined in July 2006 and brings with him more than 20 years of experience in<br />
pharmaceutical drug development, including leadership of oncology drug development at Sanofi<br />
Pharmaceuticals (now Sanofi-Aventis) and Zeneca Pharmaceuticals (now Astra Zeneca), Dr. Azab<br />
previous position was Chief Medical Officer, and executive VP of R&D at QLT Inc. He has a proven<br />
track record of shepherding therapies from early stage development to market. During his career,<br />
he led drug development programs that resulted in the approval and marketing of seven different<br />
new chemical entities in oncology and other therapeutic areas including Arimidex®, and Visudyne®.<br />
� Steven Chamow, PhD – Senior Vice President of Chemistry, Manufacturing and Control<br />
Dr. Chamow joined <strong>Intradigm</strong> in November 2006 after 19 years’ experience in the pharmaceutical<br />
and biotechnology industry with emphasis on process development and manufacturing. Dr.
Chamow’s previous assignments included senior roles in Genitope Corporation, Abgenix, Inc.,<br />
(now Amgen) where he built the company’s process sciences department, Scios, Inc., (acquired by<br />
J&J), and Genentech, Inc, where he served for 11 years. During his tenure at Abgenix he co-led the<br />
design of their award-winning production facility in Fremont, CA.<br />
� Xiao-Dong Yang, MD, PhD - VP of Research and Preclinical Development<br />
Dr. Yang joined <strong>Intradigm</strong> in September 2006. Prior to joining <strong>Intradigm</strong>, Dr. Yang was Senior<br />
Director of Cancer Pharmacology at Abgenix (now Amgen). While at Abgenix, he was the project<br />
team leader for Vectibix TM (panitumumab) and played a key role in discovery, development and BLA<br />
submission of Vectibix TM . Dr. Yang was also Senior Director of Oncology Program team<br />
responsible for setting strategy and managing Abgenix oncology project portfolio. He has published<br />
more than 40 papers in peer-reviewed scientific journals and is inventor on over 15 issued and<br />
pending patents.<br />
� Mike Riley, JD, MSc – VP of Corporate Development<br />
Mr. Riley joined <strong>Intradigm</strong> in August 2006. Mr. Riley brings over 10 years of international business<br />
experience, with an emphasis on intellectual property. Most recently he has held various positions<br />
in Europe and the US with Amgen, Abgenix, and Celltech Group PLC.<br />
These new additions to the management team work closely with <strong>Intradigm</strong> co-founders Martin Woodle,<br />
Ph.D.(Chief Scientific Officer), Patrick Lu, Ph.D., and Puthupparampil Scaria, Ph.D.<br />
“<strong>Intradigm</strong>’s platform is the most promising technology for developing RNAi-based therapeutics we<br />
have seen. The compelling pre-clinical results combined with the additions to management team and<br />
recently completed financing, sets the appropriate framework for advancing several novel RNAi-based<br />
products toward human clinical trials” comments Jamie Topper, MD. Ph.D. Chairman of <strong>Intradigm</strong>’s<br />
board and General Partner of <strong>Frazier</strong> <strong>Healthcare</strong> Ventures.<br />
“We are excited to be working with an outstanding, proven management team that has delivered<br />
breakthrough therapeutic approaches to the market place before”, said Dr. David Mack, Director of Alta<br />
Partners. “Together with a strong investor syndicate and a validated RNAi technology, <strong>Intradigm</strong> is well<br />
positioned to advance the goal of selectively modifying gene activity for a clinical benefit”<br />
Series A - $16 million<br />
The company’s Series A $16 million financing occurred in May 2006. This financing was co-led by Alta<br />
Partners and <strong>Frazier</strong> <strong>Healthcare</strong> Ventures. Other investors in this round included existing investors<br />
Emerging Technology Partners (ETP) and Novartis’ Ventures Fund plus new investors MediBic<br />
Alliance/Daiichi and Genentech. In connection with the financing, David Mack, Ph.D., a director at Alta<br />
Partners joined the board, and James Topper, MD, Ph.D., a general partner at <strong>Frazier</strong> <strong>Healthcare</strong><br />
Ventures, joined the board as chairman.<br />
About <strong>Intradigm</strong><br />
<strong>Intradigm</strong> Corporation is a privately held biotechnology drug development company focused on the<br />
discovery and development of RNA interference (RNAi) therapeutics for the treatment of human<br />
diseases with unmet medical needs through an advanced systemic delivery technology. The company’s<br />
initial product development efforts will focus on oncology therapeutics. The company is headquartered<br />
in Palo Alto, California and maintains research facilities in Rockville, Maryland.<br />
www.intradigm.com
About Alta Partners<br />
Alta Partners is a San Francisco-based venture capital firm focused on life sciences investing. Founded<br />
in 1996, the firm currently manages $2 billion in committed capital through eight venture fund programs.<br />
Alta invests in life sciences companies across the development continuum, from company formation to<br />
later-stage opportunities, and has funded more than 110 companies in the sector to date.<br />
www.altapartners.com<br />
About <strong>Frazier</strong> <strong>Healthcare</strong> Ventures<br />
Founded in 1991 and with more than $1.2 billion of capital under management, <strong>Frazier</strong> <strong>Healthcare</strong> is<br />
one of the nation's leading providers of venture and growth equity capital to emerging healthcare<br />
companies. Having invested in more than 90 emerging healthcare companies, <strong>Frazier</strong> <strong>Healthcare</strong> is<br />
well known for its depth of experience and the technical expertise of its investment team. This<br />
experience encompasses product development and launch, clinical trial implementation and design,<br />
industry operating experience, academic research and clinical practice. Partnering with <strong>Frazier</strong><br />
<strong>Healthcare</strong> provides access to capital and an unparalleled breadth of relevant healthcare industry<br />
experience.<br />
www.frazierhealthcare.com