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12 April 2005
Auckland, New Zealand, 12 April 2005 – Genesis Research and Development Corporation Ltd (NZSX/ASX: GEN) today announced that a two year $1.2 million grant has been approved by Technology New Zealand to support the development of RNA interference (RNAi) therapeutic drugs. Genesis has been utilising RNAi technology for a number of years and announced in 2004 that it intended to develop RNAi therapeutics, initially in allergic disorders. RNAi is a naturally occurring intracellular process that can be used to block disease causing genes. In 2002 RNAi was named “Breakthrough of the Year” by the international scientific journal, Science. “Genesis appreciates the support of Technology New Zealand for the development of this exciting technology,” said Stephen Hall, Chief Executive of Genesis. RNAi is a relatively new technology that allows faster development of therapeutics, so already some developers have products in early phase clinical trials. The technology has a number of advantages including good tissue specificity and the ability to reach therapeutic targets that are considered undruggable with small molecules. About Genesis Founded in 1994, Genesis is a New Zealand-based biotechnology company. It has built a broad therapeutic development platform targeting immune disorders and cancer and is developing RNAi therapeutics for immune disorders. The company has an extensive patent portfolio. Collaborations are maintained with Amgen Inc. (Nasdaq:AMGN), Corixa Corporation (Nasdaq:CRXA), SR Pharma plc (AIM:SPA), Jurox Pty Ltd, and AgResearch. AgriGenesis Biosciences Ltd is a wholly owned subsidiary of Genesis that is focused on using key plant cell signalling genes – novel hormones and transcription factors – to control commercial traits including flowering control, cold tolerance, growth rates and cell-wall lignin and cellulose content in commercial species. It has developed comprehensive plant EST databases including the world’s largest EST database for commercial forestry species. It has commercial collaborations with Wrightson (NZSX: WRI), HortResearch, Landcare Research and ArborGen LLC. For more information, please visit www.genesis.co.nz and www.agrigenesis.co.nz Media contacts: Stephen Hall, Chief Executive - Genesis Research and Development Corporation Limited, +64 9 373 5600 |