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Intradigm Closes Final Tranche of $21.4 Million Series B Financing

Wednesday, January 7, 2009 General News
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PALO ALTO, Calif., Jan. 7 Intradigm Corporation, a leadingdeveloper of targeted, systemic RNA interference (RNAi) therapeutics, todayannounced that the company has closed the final tranche of its Series Bfinancing. Astellas Venture Management led the $2.9 million tranche, withexisting investor, Lilly Ventures, also participating. The addition of thesefunds brings the total Series B financing to $21.4 million. Intradigm willuse Series B funds to advance its RNAi therapeutics platform, which iscomprised of both its siRNA intellectual property, as well as its proprietarydelivery technology, toward the development of systemic siRNA therapeuticcandidates with an initial focus on cancer targets.
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"Intradigm's uniquely comprehensive approach to developing RNAitherapeutics, which encompasses safe and effective delivery, proprietary siRNAsequences and novel structural features for RNAi molecules, makes the companyan attractive investment in the rapidly growing RNAi space," said Shinja Yano,Ph.D., president and chief executive officer, Astellas Venture Management LLC."We are excited to join Intradigm's group of investors and look forward tocontributing to the company's future success in recognizing the substantialpromise of RNAi as a therapeutic class."
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Intradigm today also provided an update on recent corporate developments,announcing that Mohammad Azab, M.D., has resigned his position as chiefexecutive officer but will retain his position on Intradigm's board ofdirectors. Dr. Azab will be succeeded as chief executive officer by PhilipHaworth, Ph.D., who previously served as the company's vice president ofbusiness development.

"The board would like to thank Dr. Azab for his valuable contributions tobuilding the company and successfully raising the recent Series B financing.We are delighted that he will continue his strategic role on Intradigm'sboard," said Jamie Topper, M.D., Ph.D., the chairman of the board ofIntradigm. "At the same time, we are excited to have Dr. Haworth assume therole of CEO and apply his impressive breadth of industry experience to thecontinued success of the company."

Dr. Haworth possesses more than 15 years of management experience in thebiotechnology industry. He has previously held senior executive roles atseveral leading biotechnology companies including Genencor International andCOR Therapeutics, among others. In these positions, he led the identificationand negotiation of numerous collaborative and licensing agreements with arange of global and regional pharmaceutical companies. He possesses deepoperational expertise that spans discovery and development, technology andproduct licensing, mergers and acquisitions, and financings.

"I am pleased to have the opportunity to support Intradigm's exceptionalteam as we work to further strengthen the company's position of leadership inthe RNAi sector," said Dr. Haworth. "Astellas' decision to join ourexperienced investor base, as well as Lilly Ventures' desire to increase itsinvestment, provides additional support and validation for Intradigm and ourongoing development efforts in the promising area of RNAi."

ABOUT INTRADIGM

Intradigm is a private biotechnology company committed to the discovery,development and delivery of targeted, systemic RNA interference (RNAi)therapeutics for the treatment of serious diseases with an initial focus ononcology. Intradigm is unique among private companies, with its comprehensiveRNAi therapeutics platform consisting of structural features fornext-generation RNAi molecules, biodegradable polycationic polymers for thedelivery of RNAi therapeutics and proprietary siRNA sequence applications. Ourproprietary delivery technology is unique in its potential to offer safe andeffective systemic administration using a library of novel peptide-basedbiodegradable polymers.

We have established an impressive proprietary portfolio of siRNA sequencesagainst more than 50 highly valued oncology and other disease targets. Inaddition, we have secured an exclusive license to the Zamore patent familyfrom the University of Massachusetts, which covers broad structural featuresof siRNA design for more potent next-generation siRNA sequences. Our goal isto grow Intradigm to become a leading company in enabling the development ofnovel RNAi therapeutics against a broad range of therapeutic targets using oursiRNA sequences and delivery technology.

For more information on Intradigm, please visit http://www.intradigm.com.

SOURCE Intradigm Corporation
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