ValiGene and Kimeragen announced today that they will merge to create ValiGen, a EuroAmerican functional genomics company. The newly formed ValiGen will combine the genomics platform under development at Valigene with chimeraplasty, the unique gene correction technology being developed at Kimeragen.
The new company will pursue commercial opportunities for its technologies in three areas: ValiGen will apply its genomics and chimeraplasty technologies to the identification and validation of novel targets for therapeutic intervention against major diseases, both for commercial partners and for its own account.
ValiGen will explore aggressively the potential for chimeraplast-based gene repair therapeutics to treat human diseases associated with particular mutations.
ValiGen will work with commercial partners in the global agriculture and food industries to use both genomics and chimeroplasty in order to achieve seed and crop improvements without introducing exogenous genetic material into the seed.
The transaction has been structured and is being implemented as a merger of equals.
“By combining our technologies and resources, we have created an integrated functional genomics system that spans the continuum from identifying genes associated with human disease or desired plant traits to validating the molecular intervention points used for targeting the development of new life sciences products while retaining the ability to create and market those products in selected markets,” said Jean Louis Pourny, Founder and CEO of ValiGene.
“Our technology platform/system is really the first complete solution to fast and cost effective in vivo target validation. As a transnational company, we will have the capabilities to work closely with our commercial partners in both the U.S. and Europe.”
“ValiGene’s proficiency in identifying and validating new disease and desired trait targets fits perfectly with Kimeragen’s expertise in gene repair for known targets,” said G. Steven Burrill, Chairman of Kimeragen.
“Together, our technologies can provide key competitive advantages to life sciences companies, including more rapid discovery and development time, improved product selectivity and efficacy, enhanced product safety, and stronger patent protection.”
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