BOULDER, Colo. and BOSTON, May 9 /PRNewswire/ -- Ribozyme Pharmaceuticals Inc. (RPI) (Nasdaq: RZYM - news) and Archemix Corp., announced today the formation of a strategic alliance that will allow both companies to capitalize on reciprocal intellectual property in the field of proteomics and molecular diagnostics.
Under the terms of the agreement, Archemix receives licenses and sublicenses to RPI's dominant intellectual property covering the allosteric ribozyme technology for use in detecting proteins in connection with drug development, and in a wide range of molecular detection applications. RPI receives an equity position in Archemix and a seat on the Archemix's Board of Directors and a seat on the Scientific Advisory Board. In addition, RPI receives a license to Archemix's intellectual property covering allosteric ribozymes for use in molecular diagnostic applications.
Allosteric ribozymes, or allozymes, have important potential for use in proteomics and molecular diagnostic applications. Allozymes are a form of catalytic RNA and/or DNA-based molecules whose ability to catalyze a reaction is modulated by their interaction with an effector molecule. Regulators of allozymes include a diverse range of compounds including proteins, nucleic acids, peptides, small molecules, and ions. Allozyme reactivity can be monitored by a variety of different methods, making these molecules useful sensors for both in vitro and in vivo applications. Allosteric ribozymes differ from the ribozymes being developed by RPI as therapeutics in that they require an effector molecule to be active. An elegant demonstration of this exciting new technology was recently published in Nature Biotechnology (19, 336-341) by one of the founders of Archemix, Dr. Ronald Breaker of Yale University.
``We are pleased to leverage RPI's broad base of nucleic acid technology and intellectual property through the agreement with Archemix. These proteomics applications may bring important new technology to many pharmaceutical companies to streamline the drug development process,'' said Ralph E. Christoffersen Ph.D., Chief Executive Officer of RPI. ``Additionally, the application of allozymes to the field of molecular diagnostics will allow RPI to further advance its broad intellectual property platform.''
``This agreement provides Archemix with important ribozyme technology to complement our RiboReporter methods. We are also looking forward to working with RPI to develop allosteric ribozymes for a range of exciting applications,'' added Martin Stanton, Ph.D., President and Founder of Archemix Corp.
RPI (www.rpi.com), located in Boulder, Colorado, is developing ribozymes, the result of Nobel Prize winning science, as a new class of RNA therapeutics designed directly from genomic data for the treatment of cancer and viral diseases. Ribozymes are synthetically engineered to act as ``molecular scissors'' capable of cleaving target RNA in a highly specific manner, blocking gene expression and preventing production of unwanted proteins.
RPI is partnered with Chiron Corporation for the development and commercialization of ANGIOZYME, an anti-angiogenic ribozyme designed to inhibit the growth of new blood supplies to tumors and prevent tumor growth and metastasis. ANGIOZYME is in Phase II studies in breast cancer patients with several other Phase II trials pending. RPI is also developing an anti-Hepatitis C ribozyme, HEPTAZYME(TM), scheduled to enter Phase II clinical trials in chronic Hepatitis C patients. RPI is also partnered with an affiliate of Elan Corporation plc for development of HERZYME(TM), an anti-HER-2 ribozyme for treatment of breast and other cancers, through the RPI/Elan joint venture, Medizyme Pharmaceuticals Ltd. RPI also recently announced a development program for HepBzyme(TM), a ribozyme therapeutic against Hepatitis B.
Archemix Corp. (www.archemix.com), a privately held company located in Boston, Massachusetts, is developing nucleic acid-based products and services to accelerate the drug discovery and optimization process. The Company's core technology, RiboReporters, is used in Archemix's proprietary protein expression profiling chips. These chips allow researchers to perform parallel detection of individual molecules in complex mixtures, facilitating the discovery and validation of new drug targets, and the rapid development of highly specific drugs against these targets. RiboReporters also function in vivo, allowing realtime analysis of protein expression and metabolism in live cells.... |
