Mountain View, Calif. and Tokyo, Japan – August 7, 2007 – REGiMMUNE Corporation., a privately held biopharmaceutical company, announced today it has been awarded a grant from the Japanese Ministry of Economy, Trade and Industry (METI). REGiMMUNE received the grant under the METI-sponsored Regional New Consortium Projects/New Industry Creative-Type Technology R&D Promotion Programs, which is intended to promote new industries and new small businesses in Japan.
The one-time grant will provide a portion of the funds for the company’s development of its immune regulatory therapeutics for cedar allergy. The METI program is similar to the Small Business Innovation (SBIR) grant programs from U.S. government agencies such as the National Institutes of Health and the Centers for Disease Control.
“This award validates the importance of REGiMMUNE’s reVax technology to address the unmet need for cedar allergy treatments, which is an urgent issue in Japan,” said Haru Morita, CEO and President of REGiMMUNE. “We are pleased that METI has recognized the potential of our technology with this generous grant.”
REGiMMUNE is a biotechnology company focused on the discovery, development and commercialization of immune regulatory therapeutics to treat life-threatening and debilitating conditions, including allergies, autoimmune diseases and inflammatory disorders. The company’s proprietary technology platform, reVax (reverse vaccination), works by modulating the immune system by enhancing antigen specific immune regulatory cells. This technique is expected to be useful in conditions such as Ragweed Allergy, Rheumatoid Arthritis (RA) and Multiple Sclerosis (MS), where control of an abnormal immune response is desirable. reVax is being utilized to advance several compounds through clinical development and eventual commercialization of a broad range of products for REGiMMUNE and its partners. The company is headquartered in Tokyo, Japan and has a U.S. subsidiary in Mountain View, California.
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