STRASBOURG, France, March 16, 2011 /PRNewswire/ --
- The Additional Funds Will Enable the Company to Expand its Therapeutic Research Activities
Polyplus-transfection SA, which specializes in the development of innovative solutions for the delivery of nucleic acids in research and therapeutics, announces the completion of a funding round in which it raised EUR 2.5 million. This new round brings in new shareholders in Polyplus-transfection, AIRFI (Alsace Inter Regio Fonds d'Investissement) and Sudinnova, which have invested EUR 1 million and EUR 0.5 million, respectively. Two of the company's existing shareholders, CIC Vizille Capital Innovation and CIC Finance, also participated in this round.
Polyplus-transfection plans to use the funding to upscale its research & development resources, specifically in the area of new compounds dedicated to siRNA delivery, which recently yielded significant and promising preclinical results in lung and prostate cancer models. These new research programs are additional to those in which Polyplus-transfection is already actively engaged in the area of RNA interference through its numerous partnerships with other biotechnology companies and university laboratories. In its joint programs with third parties, Polyplus-transfection acts as a specialist in in-vivo intracellular nucleic acid transfer, a critical step in any project to develop a therapy based on RNA interference.
The additional funding will enable Polyplus-transfection to significantly expand its science team. It is planning to recruit an additional 10 researchers and laboratory technicians in the short term, which will increase the total to 25, out of a total workforce of 40.
"We are delighted with this funding round, which will enable us to augment our research program into second-generation flagship compounds for therapeutic RNA interference - an intense field of research at this time," said the Chairman of the board of Polyplus-transfection, Dr. Gabriel Festoc. "We have made effective, breakthrough innovations at a fundamental stage of the in-vivo delivery process, which is directly responsible for the problems encountered by other players in their attempts to transform molecules (such as siRNA or miRNA) into medicines. In addition, these funds will enable us to develop better-defined solutions and to provide many more demonstrations of their therapeutic effects."
Polyplus-transfection SA is a biotechnology company that develops, markets and sells innovative solutions for the in vivo, in vitro and ex vivo delivery of nucleic acids in research, bioproduction and therapeutics. Located close to the University of Strasbourg in Eastern France, Polyplus-transfection has been ISO 9001-certified since 2002 and supplies its proprietary range of reagents for the transfection of genes, oligonucleotides and siRNA through a worldwide distributor network. Polyplus reagents are involved in a growing number of clinical trials worldwide. In addition, Polyplus-transfection holds a broad estate of patents and licenses including original methods for therapeutic siRNA delivery. For more information, please visit the Polyplus-transfection web site at: http://www.polyplus-transfection.com
SOURCE Polyplus-transfection SA