Rosetta Genomics Announces Sponsored Research Agreement with Ramot at TAU
Rosetta Genomics Ltd. has announced that the Company has entered into a sponsored research agreement with Ramot at Tel Aviv University (Ramot), a Company organized under the laws of Israel and a wholly-owned subsidiary of Tel Aviv University (TAU), for the joint development of a nano-carrier system for miR mimetic technology to treat cancer.
Dr. Sharon Kredo-Russo, Associate Director, R&D of Rosetta Genomics and Rosetta's scientists, together with Prof. Ronit Satchi-Fainaro, Department of Physiology and Pharmacology, Sackler School of Medicine, Tel Aviv University and members of her research team at TAU, jointly developed technology relating to a nano-carrier deliver system with a miRNA mimetic. This unique system can significantly enhance the stability, intracellular trafficking and efficacy of the miRNA.
The parties will perform joint research under the Magneton Project administered by the Office of the Chief Scientist of the Ministry of Economics (OCS) for an initial period of 12 months commencing on October 1, 2013 and an additional period of 12 months, subject to approval by OCS.
Rosetta Genomics has already received initial approval from the OCS for the Magneton Project. The results of the joint research project will be jointly-owned by Rosetta Genomics and Ramot.
Rosetta Genomics will fund the research to be performed by Prof. Ronit Satchi-Fainaro at Tel Aviv University in the amount of 242,460 NIS in accordance with an agreed upon payment schedule and subject to receipt of the OCS funding.
"We are delighted the OCS has determined to fund this important project. This research collaboration represents a cost-effective and efficient way for us to expand our footprint into cancer therapeutics by leveraging the Company's valuable microRNA intellectual property," said Kenneth A. Berlin, President of Rosetta Genomics.
Berlin continued, "Ramot is an excellent partner for this project and Prof. Satchi-Fainaro is a well-regarded expert in the field of cancer and microRNA nanomedicines as she is known for her cutting edge research. We look forward to advancing this collaboration to develop what we hope will be effective new cancer treatments."
"The growing understanding of the importance of microRNAs has generated intense activity in the biomedical research community. Rosetta has been at the forefront of this scientific revolution. Our goal is to leverage our broad-based patent position in microRNA technology to bring innovative new diagnostics and therapies to patients in need, while creating new revenue sources for the Company. In addition to oncology, we are pursuing this strategy in infectious, immune-mediated and cardiovascular diseases," concluded Mr. Berlin.