NEW YORK, Jan. 3 (GenomeWeb News) - Ribonomics of Durham, NC, said today that the North Carolina Biotechnology Center has awarded the company a $150,000 grant to complete commercial development of its Ribonomics Analysis System (RAS).
The company has been developing the technology since 2001, when it closed a $3.1 million Series A financing provided by Japanese diagnostic and reagent manufacturer Medical and Biological Laboratories.
According to Ribonomics, RAS is able to physically isolate genes in vitro and in vivo in order to identify functional relationships between genes, elucidate new regulatory links among pathways, and assign cellular function to uncharacterized genes.
The company said it plans to use the new funding to expand the technology for defining disease-related regulatory processes.
The North Carolina Biotechnology Center is a private, non-profit biotechnology initiative established by the state's General Assembly in 1981.