101 Federal Street, Suite 1900 8980 Lakes at
Transcription
101 Federal Street, Suite 1900 8980 Lakes at
INFORM GENOMICS ANNOUNCES COMPLETION OF PRIVATE PLACEMENT Boston, MA–May 13, 2015. Inform Genomics, Inc, a company that utilizes a proprietary analytic platform to develop genomicbased, precision medicine products, today announced the completion of a $2.6 million private placement of preferred stock. Inform Genomics anticipates using the net proceeds from the financing to advance the development of its lead programs in oncology supportive care, including OnPARTTM and HSCT/MucositisTM, developing its proprietary analytic platform, and for general corporate purposes, including patent filings and working capital. “We are pleased with the interest from our existing and new investors,” said Ed Rubenstein, MD, President and CEO of Inform Genomics. “This capital will help us advance our business and has allowed us to begin hiring our “C”-suite officers and to continue the progress for our product development programs.” About Inform Genomics Inform Genomics, Inc, is a company that utilizes a proprietary analytic platform to develop genomic-based, precision medicine products. Our product candidates are designed to predict, with a high degree of accuracy, clinically important outcomes that assist physicians and their patients in making individualized medical decisions. Our current focus is in oncology supportive care, with two product candidates in development. Each is designed to predict a patient’s risk for developing common chemotherapy-related side effects. Knowing an individual’s risk in advance of therapy can further inform clinical decision-making and reduce the high patient, clinical, and economic burden of chemotherapy-related side effects. Product Development Program OnPART™ (Oncology Preferences And Risk of Toxicity). OnPART™ has completed its first phase of development and has shown it can accurately predict a patient’s risk for six clinically significant and costly side effects due to chemotherapy regimens. These side effects include nausea and vomiting, moderate-to-severe diarrhea, peripheral neuropathy, oral mucositis, cognitive dysfunction, and fatigue. OnPART™ incorporates genomic risks for side effects while also quantifying a patient’s willingness to tolerate them (Preference Assessment Inventory©). OnPART™ has also shown biologic validity for each of its predictive networks. A multicenter US study is planned to prepare it for commercialization. The Hematopoietic Stem Cell Transplant (HSCT)/Mucositis™ Product Candidate. As many as 40% of patients undergoing high-dose chemotherapy conditioning regimens for stem cell transplantation will go on to develop moderate-to-severe oral mucositis, with an attendant increase of morbidity and mortality. Our HSCT/Mucositis™ product candidate is designed to help physicians identify this at-risk group so that primary prevention can be part of the supportive care strategy before chemotherapy—thus minimizing the clinical and economic impact of this debilitating side effect. In its first phase of development, this product candidate demonstrated that it can predict, with a high degree of accuracy, a patient’s risk for developing oral mucositis. A multicenter US study is planned to prepare it for commercialization. For more information, please visit www.informgenomics.com. Contact: Inform Genomics Ed Rubenstein, MD, President and CEO [email protected] 101 Federal Street, Suite 1900 Boston MA 02110 8980 Lakes at 610 Drive, Suite 100 Houston TX 77054