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$7M will fund Intronn smart technology

Intronn Inc. of Raleigh generated $7 million from a Series A Preferred Stock financing that will help fund the development of its proprietary spliceosome-mediated RNA trans-splicing SMaRT (TM) technology.

"These new resources, along with a grant of more than $2.5 million from the National Institutes of Health, allow Intronn to expand the potential applications of our SMaRT (TM) gene reprogramming technology in genomics, molecular evolution, gene knockdowns and gene therapy," said Gerard McGarrity, Ph.D., Intronn's CEO.

Intronn's patented SMaRT[TM] technology can reprogram the vast majority of human, plant and animal genes to correct genetic errors, confer a new function to a cell, or create novel gene products.

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The Series A investors are AEA Investors Inc. of New York and Research Corporation Technologies Inc. (RCT) of Tucson, Ariz. They join Proteome Sciences plc of London as major shareholders in Intronn.

"Intronn's technology platform is unique and truly innovative," said Michael Berendt, Ph.D., managing director of AEA. "It has already demonstrated therapeutic potential in animal models of cancer and hemophilia and holds great promise for the development of many additional therapeutic applications."

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$7M will fund Intronn smart technology

BT Catalyst, Dec, 2001

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