The company also remains on track with its more advanced familial adenomatous polyposis drug and plans to file within the next two weeks an investigational new drug application to begin testing the therapy in humans.
OSU Medical Center will enroll patients who agree to join Coriell's personalized medicine project under the guidance of their primary care physician. The partners will study the impact of using genomic information in treating chronic conditions.
Lycera, which is developing drugs for autoimmune diseases, will use the cash to advance through Phase II proof-of-concept studies a drug based on University of Michigan research, and into Phase I trials a second candidate based on research conducted at New York University.
MDRNA also reported its fourth-quarter financial results, posting lower operating costs on the elimination of non-RNAi programs and operations the company was working on prior to a corporate reorganization.
Under terms of the deal, Novartis will give Epistem a $4 million upfront payment and provide funding to study the stem cell shop's drug targets. Epistem could also get up to $45 million in milestone payments for each product developed from targets licensed under the agreement.
If MedImmune can develop and market a drug based on the discovery, it could be a financial boost to the institute, which hopes to diversify its revenue sources once cash from sole corporate sponsor Kirin Pharma USA dries up in 2010.