Ablitech, Inc. awarded $2 million
Published 12:25 am Sunday, October 16, 2011
Ablitech, Inc., a biotechnology company developing polymer-based delivery systems for gene silencing, today announced it has been awarded a $2 million grant by the U.S. Department of Defense (DoD).
Ken Malone, CEO of Ablitech, commented: “We are excited and grateful for DoD’s support and confidence in our technology and team. We will be working to provide long-term pain management research and develop new treatments in cooperation with the Army’s Telemedicine and Advanced Technology Research Center (TATRC).”
The funds will be used to develop treatments for Heterotopic Ossification (HO). HO is a random painful bone growth that occurs after severe trauma such as amputation or concussion. Ablitech’s signature product, VersadelTM, will be used to deliver gene silencing (siRNA) that can selectively turn off unwanted cell growth.
“In early-2009 Ablitech approached TATRC with a new technology for gene silencing that turns off harmful cells such as cancer,” continued Malone. “TATRC requested Ablitech employ Versadel to address the problem of treating bone disorders associated with severe trauma.”
Malone ended, “The funds from the DoD and other federal grants, along with private investments, have enabled us to accelerate Versadel towards delivering on possibilities. The possibilities for curing cancer, HO and a broad range of other diseases.”