Rosetta Genomics Receives Grant and Joins Rimonim Pharmaceutical Consortium

Rosetta Genomics, Ltd. has announced that it has joined the Rimonim pharmaceutical consortium. The goal of the consortium, which is funded by the Office of the Israeli Chief Scientist, is to bring together Israeli biotechnology companies in order to advance RNAi-based therapeutics. By joining the consortium Rosetta Genomics received a $460,000 grant from the OCS.

Members of the consortium - which include bioinformatics, biopharmaceutical, clinical diagnostic and therapeutic companies, as well as academic centers - will work together to develop technologies to help commercialize RNAi therapeutics. All of the consortium's participants will have a access to the technologies and IP which will result from the work of the consortium.

"We are honored to be a part of this dynamic group, and to have the opportunity to leverage our proprietary technologies for this important mission," commented Kenneth A. Berlin, President and CEO of Rosetta Genomics. "Rimonim brings together some of Israel's top biotechnology companies and academic centers to work collaboratively to overcome barriers and advance the clinical work needed to bring RNAi-based therapeutics to patients.

Rimonim will provide us with opportunities to interact with other leaders in the field who specialize in, among other things, systems that may be appropriate for delivering siRNA or microRNA mimetic molecules. We believe that the combined expertise and knowledge represented by this group is a great starting point for this important project, and we look forward to working with our fellow consortium members."