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Innovation Philadelphia Funds Acuity and MacroArray

NEW YORK, Sept. 3 (GenomeWeb News)- Innovation Philadelphia, will invest in Acuity Pharmaceuticals and MacroArray Technologies through its Economic Stimulus Fund, the public-private partnership said Tuesday. The amount of each investment was not immediately disclosed.


The investment helped the Acuity complete pre-clinical studies for its lead compound and file an IND with the FDA for an RNAi therapeutic, said CEO Dale Pfost in a press release.


Acuity is an ophthalmic pharmaceutical company concentrated on RNAi therapeutics. Its flagship product is a macular degeneration drug called Cand 5. MacroArray works on the identification of novel tumor markers, and its lead product, PCADM-1, is a prostate cancer diagnostic test.


Innovation Philadelphia invests in local research and commercialization efforts. It is supported in part by the City of Philadelphia and the Commonwealth of Pennsylvania.

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