Date: May 24, 2011 Author: Lynette F. Cornell Source: bizjournals (
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In the company's own words:
"RNA interference is powerful technology for specific gene knockdown in living cells with numerous applications in research and therapeutics. The utility of RNAi (ribonucleic acid interference) is limited by highly complex and inefficient delivery methodologies [because] siRNAs (small interfering RNA) need to be formulated with positively charged lipids. Delivery systems cause cellular toxicity and can't be easily applied to most biologically relevant model systems such as primary cells, tissue models or in vivo. Advirna's self-deliverable technology enables direct delivery of RNAi compounds to cells, tissues and in vivo. This groundbreaking technology lifts the requirements for transfection formulation and opens new markets and applications for RNAi."
About the technology:
Advirna has developed proprietary self-deliverable patent-pending RNA interference technology to develop a portfolio of research tool reagent and services for functional genomic studies. The therapeutic rights for this technology belong to Rxi Pharmaceuticals Corp. This technology is based on the unique structure and chemical modification pattern of RNA molecules. These sdRNAs are highly potent, specific, non--toxic and do not require transfection formulation to enter cells and tissues. SdRNAs transfect all animal cell types including hard-to-transfect cell lines, primary and stem cells, said CEO Alexey Wolfson. SdRNAs are active in ex-vivo tissue models and induce dose dependent, long lasting silencing in multiple tissues in vivo. The same molecules functional in cell culture can be used for ex-vivo and in-vivo studies. Advirna delivers custom designed and validated sd-RNA reagents against any gene target, said Wolfson.
People behind the company:
Alexey Wolfson, co-founder and CEO, has over 20 years of academic and industry experience in developing nucleic acid technologies. Anastasia Khvorova, co-founder and technology advisor, was previously the chief scientific officer of Dharmacon Inc., an RNAi research tool business company, which is part of Thermo-Fisher Scientific Inc. She is currently the chief scientific officer at Worcester-based RXi Pharmaceuticals. Todd Woolf, business advisor, is a former founder and CEO of Sequitur Inc., an RNAi research tool company that is now part of Life Technologies Corp., and a former CEO of Rxi Pharmaceuticals.
The pitch:
Advirna is seeking $750,000 in Series A financing. The funding will be used to build an initial inventory of products, to establish a distribution capacity in the U.S. and to demonstrate market traction and sales. The company is also seeking partnerships with technology providers and distributors to speed up the market penetration and with service providers in biomanufacturing and target validation.
The market:
The company is initially pursuing the RNAi research tool business market, which it estimates is worth more than $200 million. Additional market opportunities include biomanufacturing with production cost reduction and in vivo target validation. The estimated addressable size of these markets is valued in the hundreds of millions of dollars, said Wolfson.
The competition:
According to Wolfson, the RNAi research tool market is occupied with well-established big research tool business companies such as Life Technologies, ThermoFisher and Sigma-Aldrich Corp. Advirna's initial market segment is focused on hard to transfect cells, ex-vivo and in-vivo models, which Wolfson said has no competition.
