Medisyn Technologies, Inc. logo




Home Drug Discovery Licensing Compounds About Us Management Investor Relations News Careers Contact Us

News

Latest News

 

Medisyn Awarded Phase I SBIR Grant by Department of Defense to Discover & Develop Novel NSAIDS with Reduced GI Toxicity

MINNEAPOLIS, MN--(BUSINESS WIRE), January 25, 2008 --Medisyn Technologies today announced that the company was recently awarded a Small Business Innovation Research (SBIR) Phase I grant from the Department of Defense (DoD) to discover and develop new non-steroidal anti-inflammatory drugs (NSAIDs) with reduced gastrointestinal toxicity. NSAIDs devoid of GI toxicity that may be potentially available without a prescription (over-the-counter) enables easier access for deployed military personnel.

Inflammation has been implicated in many pain disorders and diseases including myalgia, arthralgia, tendonitis and dental and bone irritation. Americans spend approximately $3 billion each year on over-the-counter analgesic drugs. Although NSAIDs are widely used to treat acute and chronic inflammatory disorders, some (Advil®) are limited by toxicity to the gastrointestinal (GI) system while others (Celebrex®, Vioxx®) may promote increased cardiovascular risks.

Medisyn’s discovery process works by creating a digital fingerprint of anti-inflammatory activity which is then used to search chemical libraries for compounds with similar or identical fingerprints. Once a match has been made, the compounds are submitted for lab testing to confirm activity. Medisyn has identified potent compounds in as little as eight weeks and currently has 40 active projects in 22 therapeutic areas including lung cancer, AIDS and Alzheimer’s.

David Land, President of Medisyn Technologies, commented that “We are pleased that the DoD has selected Medisyn to help identify novel pain and anti-inflammation drug leads using our Forward Engineering™ technology. While most computer-based drug discovery engines are limited to identifying structurally related compounds, Forward Engineering allows us to unearth potent anti-inflammatory agents structurally unrelated to current NSAIDs. Medisyn remains committed to working with difficult therapeutic challenges”, Land added. After identification of promising leads, Medisyn will seek SBIR Phase 2 funding to complete preclinical testing required to support an Investigational New Drug (IND) application.

The DoD SBIR program was established in 1982 to increase the participation of small businesses in federal research and development (R&D) and leverage the creativity of the small business community to help meet government R&D objectives. Medisyn’s approach will involve identification of inhibitors for both cyclooxygenase-2 (COX-2) and arachidonate 5-lipoxygenase (5-LO), two potent mediators of inflammation. These so- called dual inhibitors of anti-inflammatory activity should enable treatment of local and systemic inflammation with minimal GI toxicity and cardiovascular risk.

This work is supported by the US Army Medical Research and Material Command under Contract No. W81XWH-08-C-0026. The views, opinions and/or findings contained in this press release are those of the author(s) and should not be construed as an official Department of the Army position, policy or decision unless so designated by other documentation.

back to top

 

Mount Sinai School of Medicine and Medisyn Technologies Announce Agreement to Discover Novel Therapeutics for Treating Alzheimer’s Disease

NEW YORK & MINNEAPOLIS--(BUSINESS WIRE), September 13, 2007 --Mount Sinai School of Medicine (MSSM) and Medisyn Technologies today announced a collaboration for the development of novel β-amyloid (Aβ) lowering drugs as a treatment in Alzheimer’s disease. Starting with MSSM’s previous research data obtained from testing early-stage lead compounds, thecollaboration utilizes Medisyn Technologies’ molecular topology Forward Engineering™ platform to build a diverse pipeline of Alzheimer’s disease drug candidates. The goal of the study is to complete in vivo efficacy validation of the novel drug candidates by the end of 2007.

It is estimated that 4.5 million Americans currently suffer from Alzheimer’s disease — a number that has doubled since 1980 and is expected to reach 12-16 million by 2050. There are currently no approved drugs to prevent the development of Alzheimer’s disease (AD), a progressive brain disorder that gradually destroys cognitive function. Drugs that are currently available treat the symptoms of the disease, while the MSSM/Medisyn Technology candidates are designed to significantly slow the decline in cognitive function and thereby improve the patients’ quality of life. The total US market for pharmaceuticals directed at neurodegenerative diseases was $16.5 billion in 2006.

Under the collaboration, Dr. Giulio Maria Pasinetti, Professor of Psychiatry and Neuroscience and Geriatrics and Director of the Alzheimer’s Disease Translational Research Laboratory in the Department of Psychiatry at MSSM provided a recently identified set of lead compounds that were effective in reducing the generation of endogenous Aβ1-40 and Aβ1-42 peptides in primary neuron cultures. The efficacy data along with in vitro toxicity data have been correlated with Medisyn’s empirical, activity-based molecular topological methodology to dissect specific molecular features of the lead compounds. The combined approach has identified 24 diverse new lead compounds from which 21 compounds and 16 compounds tested active for lowering Aβ1-40 and Aβ1-42 peptides respectively. Presently 10 compounds meet all property parameters for potency and low toxicity, with two of them showing a 10 fold increase in potency over the most potent compounds in the MSSM lead set.

The collaboration’s in vitro evidence substantiated that a set of drugs could be used to build a predictive model for Aβ-lowering activity in vitro. Ongoing activity-based topological studies will provide clarification of the molecular features responsible for Aβ-lowering activities in vivo including the absence of aversive hypotensive side effects, low toxicity, high bioavailability and high penetration across the blood-brain barrier. Validated and characterized lead compounds will be out-licensed to pharmaceutical companies for further clinical development. Commercialization rights will be shared between MSSM and Medisyn Technologies.

Dr. Giulio Maria Pasinetti, stated that “We are extremely pleased to announce this collaboration with Medisyn Technologies and the preliminary results achieved. The combination of Medisyn’s molecular topology platform together with the research advances and experience at MSSM creates a highly efficient team capable of identifying, discovering and validating novel compounds for treatment of AD that are of interest to the pharmaceutical industry.”

“The in vitro results have been outstanding and bode well for success of the in vivo phase under development,” said David Land, President of Minneapolis-based Medisyn Technologies. "By next applying the core competencies of Medisyn's proven Forward Engineering™ discovery engine to MSSM’s pre-clinical in vivo work and therapeutic expertise, we anticipate rapid identification of new validated in vivo leads to build a diverse pre-clinical pipeline of drug candidates for treating AD.”

About Mount Sinai School of Medicine

The Mount Sinai Medical Center encompasses The Mount Sinai Hospital and Mount Sinai School of Medicine. The Mount Sinai Hospital is one of the nation’s oldest, largest and most-respected voluntary hospitals. Founded in 1852, Mount Sinai today is a 1,171-bed tertiary-care teaching facility that is internationally acclaimed for excellence in clinical care. Last year, nearly 50,000 people were treated at Mount Sinai as inpatients, and there were nearly 450,000 outpatient visits to the Medical Center.

Mount Sinai School of Medicine is internationally recognized as a leader in groundbreaking clinical and basic-science research, as well as having an innovative approach to medical education. With a faculty of more than 3,400 in 38 clinical and basic science departments and centers, Mount Sinai ranks among the top 20 medical schools in receipt of National Institute of Health (NIH) grants.

back to top

 

MD Biosciences and Medisyn Technologies Announce Agreement to Discover Novel Therapeutics for Inflammatory and Neurology Diseases

 Zurich, Switzerland/Minneapolis, USA,  October 24, 2006 – MD Biosciences and Medisyn Technologies announced today a discovery collaboration for the development of small molecules targeting inflammatory and neurological diseases. The collaboration is based on the discovery technology platforms available at each company and will serve to develop pre-clinically validated lead compounds within joint and airway inflammations as well as Multiple Sclerosis, pain relief and Parkinson’s Disease.

During the initial phase of the collaboration, MD Biosciences will apply its expertise in defining ideal drug characteristics targeted at the different diseases. Medisyn Technologies will use these definitions in its proprietary Forward EngineeringTM algorithms to predict and generate molecules that contain the desired properties as possible lead candidates. In parallel, Medisyn’s suite of predictive ADME and toxicity models will also pre-qualify lead candidates for useful “drug-like” characteristics relating to safety and efficacy. MD Biosciences will then use its Senerga® Mode of Action platform and ImmuneProfilerTM technologies to further evaluate the immunomodulatory properties and mechanism of action of the predicted compounds. Traditional and innovative disease models will also be used to evaluate efficacy in targeted diseases and selected lead compounds will advance into further preclinical development. Validated and characterized lead compounds will be out-licensed to pharmaceutical companies for further clinical development. Commercialization rights will be shared equally between MD Biosciences and Medisyn Technologies.

Dr Eddie Moradian, Chief Executive of MD Biosciences said, “We are extremely pleased to establish this collaboration with Medisyn Technologies. The combination of Medisyn’s bioinformatics platform together with the cutting-edge inflammation and neurology discovery platforms at MD Biosciences creates a flexible, powerful and highly efficient team capable of identifying, discovering and validating novel compounds of interest to the pharmaceutical industry.”

“We are very optimistic about achieving a fruitful strategic partnership,” said David Land, President of Minneapolis-based Medisyn Technologies. "By combining the core competencies of Medisyn's proven Forward EngineeringTM discovery engine with MD Biosciences' advanced pre-clinical assays and therapeutic expertise, we anticipate the efficient creation of a diverse pre-clinical pipeline of validated drug candidates for treating pain and inflammation.”

About MD Biosciences

MD Biosciences, established in 1999 is a privately held company providing advanced products and contract preclinical discovery services to the pharmaceutical and biotechnology industries. Based near Zürich, Switzerland, the company employs proprietary methods and disease models, including the Senerga® Mode of Action Platform and ImmuneProfilerTM to accurately determine the mode of action of drugs.  The company operates its Inflammation Discovery Services laboratories in Glasgow, Scotland; its Neurology Discovery Services laboratories in Israel; and its In Vitro Services and Development Laboratories in St Paul, MN, USA. The available technology platforms and expertise serve to accelerate the drug development process in the preclinical phase.

 

back to top

Dr. Christopher Lipinski, Creator of "Rule of Five", to Advise Medisyn Technologies on Pharmaceutical Industry Opportunities

 Lipinski Joins Medisyn’s  Blue-Chip Scientific Advisory Board to Focus on High Profile Applications for Medisyn’s Forward Engineering™ Technology Platform

MINNEAPOLIS, MN, May 18, 2006— Medisyn Technologies, Inc. said today that Dr. Christopher Lipinski—the world-renowned scientist and author of the pharmaceutical industry standard “Rule of Five” analysis—will join the Company as a Scientific Advisor and Consultant.

Dr. Lipinski, who retired recently as Senior Research Fellow at Pfizer Global R&D, has been honored by the American Chemical Society for his groundbreaking “Rule of Five” analysis. Since its publication in 1997, Lipinski’s “Rule of Five” has emerged as a critical filter for drug development programs by helping to raise awareness about properties and structural features that make molecules more or less drug-like.  A simple algorithm that helps to identify successful drug candidates, the “Rule-of-Five” is widely accepted within scientific circles as a landmark contribution to drug development.
 

Currently, Dr. Lipinski serves as a scientific advisor to the Global Alliance for TB Drug Development, Melior Discovery, and the Matrical Company and is a consultant for the Hereditary Disease Foundation. He also is a member of the editorial board of the Journal of Pharmaceutical Science and a winner of numerous scientific awards and professional citations.

According to Medisyn’s president, David Land, “Since our first meeting, Chris has expressed a strong interest in Medisyn’s technology and its potential to significantly improve drug discovery,” Land said. “Our Board of Directors is delighted that Chris has agreed to work with Medisyn on specific projects that will showcase the exceptional capabilities of Medisyn’s Forward Engineering platform,” Land added.
 

There is a significant, unmet need for new drug lead candidates in the pharmaceutical industry. Currently, pharmaceutical and biotechnology companies are battling patent expirations and are struggling to improve drug development productivity which today is a costly and time-consuming process with no guaranteed success.  Dr. Lipinski said he sees Medisyn’s technology as potentially providing significant unrealized value to medicinal chemistry in very important but historically challenging tasks such as the choice of the best chemical series for optimization against difficult targets. "I really hope that I can assist Medisyn in developing the retrospective "killer case histories" for the value of this technology in solving the historically very difficult medicinal chemistry problems posed by many of the really biologically exciting but chemically difficult new drug targets".

 

back to top

Mark Kroll, Ph.D. Joins Medisyn Board of Directors; James Brewer and Thomas Parr, Ph.D. Join Scientific Advisory Board 

Medisyn Expands Technology and Infectious Disease Expertise

 MINNEAPOLIS, MN, March 16, 2006—Mark Kroll, Ph.D., widely recognized as one of the world’s leading inventors of implantable medical devices, has joined the Medisyn Technologies Board of Directors, effective immediately.  The company also announced the appointment of Dr. Thomas Parr and Mr. James Brewer as scientific advisors to add depth in key strategic areas.  

Dr. Kroll is well-known in the Twin Cities and within the worldwide medical device industry as a technology expert with deep knowledge of its application in business development. By some estimates, 99 percent of implantable defibrillators incorporate at least one Kroll patent invention.

According to Thomas D. Ingolia, Medisyn’s CEO, Dr. Kroll’s technology and patent expertise will be exceptionally valuable to Medisyn as it continues to commercialize its Forward Engineering™ drug discovery platform—the company’s proprietary technology that enables the rapid design of new drug candidates with specific therapeutic properties.  Dennis D. Anderson, CEO of Andcor Companies and an advisor to Medisyn, said that “With more than 300 issued or pending patents to his credit, Mark Kroll has few peers in this area.” 

In discussing his reason for joining Medisyn’s Board, Dr. Kroll said recently, “I was very impressed with the sheer elegance of the Medisyn approach. The technology has the potential to create a new framework for drug discovery that speeds up and expands the capabilities of current approaches. "

Medisyn’s Forward Engineering® proprietary technology platform significantly increases the accuracy and speed with which new compounds are discovered. The company currently deploys Forward Engineering in both natural, non-prescription therapeutic and traditional pharmaceutical markets. Medisyn also works with both pharmaceutical and biotechnology companies to sharpen and streamline their discovery initiatives, primarily in cancer treatment. The company is engaged in a long-term collaborative research project with the University of Minnesota’s Academic Health Center.

Dr. Kroll, until recently retired, was the Senior Vice President and Chief Technology Officer, St. Jude Medical Inc., (NYSE:STJ) Cardiac Rhythm Management Division. He began as VP of the Tachycardia Business Unit and held various VP level positions within St. Jude since 1995. He was awarded “Fellow” recognition by the American College of Cardiology (FACC), and is co-author of “Implantable Cardioverter Defibrillator Therapy.” He has been listed in Who's Who in Science and Engineering since 1992. Dr. Kroll has authored over 75 papers, invited presentations, book chapters, and abstracts. With 202 issued US patents, he is the most prolific inventor in Minnesota. He is also a director of Haemonetics (NYSE:HAE) and Taser Intl. (NASD:TASR).

Advisors Strengthen Key Capabilities
 

The company also announced the appointment of two new members to its Scientific Advisory Board.  Each will add specific expertise to help advance the company’s strategic business objectives.

Thomas R. Parr, Jr., Ph.D. brings to Medisyn deep experience in the discovery and development of anti-infective drugs for the treatment of infectious diseases. He will play a key role in Medisyn’s strategy to develop a pipeline of infectious disease therapeutics—a multi-billion dollar industry that needs new drugs due to a lack of market satisfaction with existing therapies.  These include resistance development, the evolution of new infectious diseases and toxicity and efficacy issues with current therapies.

Dr. Parr has nearly two decades of experience developing anti-infectives at leading pharmaceutical companies, including Eli Lilly and Company, Microcide Pharmaceuticals and Intrabiotics Corporation.

James E. Brewer also joins Medisyn as a Scientific Advisor. He has extensive mathematics expertise and over 25 years of experience in R&D in the medical device industry. He has published more than 25 peer-reviewed journal articles related to resuscitation research and he has more than 30 issued US patents related to diagnostic and therapeutic areas of cardiology. Mr. Brewer has served as principal scientist in several entrepreneurial settings and has been responsible for the successful development of several device products.   Previous to his medical experience, he contributed to the defense industry with classified work in pattern recognition and was awarded Texas Instruments' top achievement award at age 24. He is expected to help guide the company as it seeks new applications for its Forward Engineering™ platform.

 

back to top

Medisyn Inks Multi-Year Agreement with Humanetics to Drive Discovery of
Natural Compounds for Disease Prevention

Alliance Opens New Market for Medisyn and Expands Humanetics’
Ability  to Deliver Non-Prescription Oral Agents 

MINNETONKA, MN, October 20, 2005—Medisyn Technologies, Inc., a drug discovery company, and Humanetics, a Twin Cities-based biotechnology company, today announced that they have entered into a multi-year strategic alliance. Terms of the agreement were not disclosed.

The two companies will work together to accelerate the discovery and development of natural, non-prescription compounds focused on disease prevention. The contract calls for Medisyn to provide an exclusive pipeline of natural compounds to Humanetics and for Humanetics to invest in the requisite clinical development program to gain FDA approval for qualified disease prevention claims.

The alliance opens a new market niche for Medisyn that offers the advantage of a faster time-to-market than traditional new drug development and thus provides nearer-term revenue potential for the company. Humanetics gains access to Medisyn’s Fast Forward Engineering® platform-- the company’s proprietary technology that significantly increases the accuracy and speed with which new compounds are discovered. The access to Medisyn’s proprietary methodology greatly enhances Humanetics’ ability to develop protectable, efficacious and safe, oral agents—a central goal for Humanetics.

According to Medisyn’s President, David Land, “For Medisyn, this alliance is all about applying our Fast Forward Engineering technology in a new market niche that offers a vastly compressed timeframe for bringing qualified products to market.” Land added “Medisyn’s entry into natural, non-prescription therapeutics is being launched in parallel with the company’s existing development work for traditional pharmaceutical customers.” Medisyn currently is working with both pharmaceutical and biotechnology companies to sharpen and streamline their discovery initiatives, primarily in cancer treatment. The company also is engaged in a long-term collaborative research project with the University of Minnesota’s Academic Health Center.

A Faster Path and Better Candidates

Both Medisyn and Humanetics hope that by creating a constant stream of pre-qualified compounds, Humanetics can both accelerate and broaden its product development pipeline. The first areas of focus for partnership will be to identify compounds that can offer safe, natural therapeutic options in the areas of obesity, immune system and cognitive function.

The process of developing science-based solutions requires independent validation, including FDA review and approval, in order to make specific qualified health claims. Humanetics is committed to support this effort with rigorous clinical trials that measure the safety and effectiveness of each natural compound in achieving a specific disease prevention benefit.

By working together, Medisyn hopes to quickly identify a larger pool of better-qualified candidates—enabling Humanetics to advance these through clinical trials and the FDA review process.

“Our success depends, in part, on our ability to validate the health benefits of our products through clinical trials,” explained John Dykstra, Chief Operating Officer at Humanetics. “Medisyn will provide an ongoing selection of compounds that we know meet certain specifications and have a higher probability of being effective,” he said. “This partnership is unique in our market space and should provide us with a significant competitive advantage for accelerating our discovery process,” he added.

About Humanetics Corporation

Founded in 1988, Humanetics Corporation is a privately held biotechnology company focused on providing proprietary, science-based solutions to consumer health and aging concerns. Based in the Minneapolis metropolitan area, Humanetics pursues this mission through the discovery, development and commercialization of naturally occurring, non-prescription oral agents focused on disease prevention.  For more information, visit www.humaneticscorp.com.

back to top

Medisyn Names Thomas D. Ingolia, Ph.D. as New CEO

Top Biotechnology-Pharmaceutical Veteran to Drive Company's Growth Strategy 

MINNETONKA, Minn.—August 31, 2005— Moving to further expand the footprint of its innovative drug discovery capabilities, Medisyn Technologies, Inc. today announced that veteran biotech-pharmaceutical executive Thomas D. Ingolia, Ph.D. will join the company as CEO, effective immediately.

The recruitment and hiring of Ingolia comes at a time when Medisyn is experiencing significant business growth and market interest in its Fast Forward Engineering Platform(TM), the company's proprietary technology platform that significantly increases the accuracy and speed with which new drug compounds are discovered. Medisyn currently is working with both drug discovery and pharmaceutical companies to sharpen and streamline their discovery initiatives, primarily in cancer treatment. The company also is engaged in a long-term collaborative research project with the University of Minnesota's Academic Health Center.

Ingolia's background, which includes three decades of executive leadership at Eli Lilly and at a number of successful biotechnology start-ups, represents the ideal complement of skills and experience at this point in Medisyn's growth, explained Steve Pederson, a director of Medisyn and partner at Sherpa Partners. "Tom brings a unique blend of big pharma experience and biotech entrepreneurial focus to the Medisyn CEO position," he said. "His perspective is a critical asset to Medisyn as the company evolves its position in the drug discovery market."

Ingolia is well-known in biotech circles for his ability to attract venture capital investment in fledgling technologies and early stage biotechnology companies. He also has a strong reputation as a strategist--taking undervalued, early stage biotechnology companies and repositioning them for growth.

In discussing his reasons for joining Medisyn, Ingolia cited the potential of the company's technology in drug discovery as a key reason. "Today, the discovery of new drugs is occurring primarily in a 'converged' environment--one in which technology helps scientists overcome many obstacles associated with the process of identifying and qualifying new drug candidates," Ingolia said. "I believe that Medisyn's technology is unique, and most importantly, is a critical component in the converging world of drug discovery." Ingolia said he is moving forward with Medisyn in the Twin Cities because of the area's global leadership in medical devices and renowned key life-science resources such as Mayo Clinic and University of Minnesota. Together with established and emerging biotech / pharmaceutical companies in healthcare, bio-agriculture and nutraceuticals the Twin Cities ranks among the top 10 life science centers nationally.

After earning his doctorate in Biochemistry at U.C./Berkeley, Ingolia spent 13 years at Eli Lilly, beginning as a research scientist and moving rapidly up the management ranks to CEO of Sphinx Pharmaceuticals--a technology acquisition that Ingolia targeted, evaluated and managed for Lilly. From there, Ingolia moved into biotech, with senior executive positions at Ontogeny and Microbia in Cambridge, and Prolexys in Salt Lake City. Ingolia joins Medisyn directly from Prolexys, where he was CEO.

Since its Series A funding in 2002, Medisyn has consistently demonstrated the value of its forward engineering technology in drug discovery. With a primary focus on cancer treatments, Medisyn has established relationships with the National Cancer Institute, Invitrogen, the University of Minnesota and a Top10 pharmaceutical company. In July, Medisyn received a patent for its lead cancer drug candidate, MT103. The company has more than 20 additional patent-pending compounds. To date, Medisyn has raised more than $5 million through private investors and venture capital. Most recently, a $1.5 million bridge round was led by the Stan Baratz Group with participation from current investors Sherpa Partners, StarTec, Andcor Companies and Portage Capital. That round closed in February, 2005.
back to top

Invitrogen and Medisyn Announce
Collaborative Research Agreement 

CARLSBAD, Calif.—March 31, 2005Invitrogen Corporation (Nasdaq: IVGN), a provider of essential life science technologies for disease research and drug discovery, today announced that it has entered into a collaborative research agreement with Medisyn Technologies, a unique small molecule design company. This agreement with Invitrogen’s Drug Discovery Solutions group extends an earlier working relationship between the two companies.

The research agreement calls for the use of Medisyn’s molecular topology-based Fast Forward Engineering™ platform to optimize chemical modulators of kinase function. This new project builds upon a previously successful evaluation with Invitrogen’s Gibco™ subsidiary in which Medisyn’s predictive technology was applied to the areas of cell culture media improvement. The results discovered in the Gibco™ project were non-obvious and indicated that Medisyn’s technology could be practically applied to specialty media development.

“We are optimistic about the potential of Medisyn’s Fast Forward Engineering™ platform to help guide and expand our capabilities in kinase profiling and assay development,” said Dr. John Printen, Director, Drug Discovery Technology at Invitrogen. “This collaborative relationship on kinase chemical biology will provide valuable data about the utility of our technology platforms for accelerating kinase drug discovery.”

“Our in silico platform has been proven successful in a number of pilot projects at tackling challenging therapeutic areas and addressing complex disease parameters at a very specific level of detail,” said David Land, President of Minneapolis-based Medisyn Technologies. “By working collaboratively with Invitrogen, we believe our technology can enhance the Drug Discovery Solutions product and services portfolio,” he added.

About Invitrogen Corporation Invitrogen Corporation (Nasdaq: IVGN) provides products and services that support academic and government research institutions and biotech companies worldwide in their efforts to improve the human condition. The company provides essential life science technologies for disease research, drug discovery and commercial bio-production.  Invitrogen’s own research and development efforts are focused on breakthrough innovation in all major areas of biological discovery including functional genomics, proteomics, bioinformatics and cell biology—placing Invitrogen’s products in nearly every major laboratory in the world.  Founded in 1987, Invitrogen is headquartered in Carlsbad, California and conducts business in more than 70 countries around the world.  The company globally employs approximately 4,000 scientists and other professionals. For more information about Invitrogen, visit the company’s website at: www.invitrogen.com.

back to top

Medisyn Technologies Closes $1.5 Million Bridge Financing Round

  Stan Baratz Group Leads Round with Participation from Current Investors Sherpa, StarTec, Andcor and Portage 

MINNEAPOLIS, MN—February 17, 2005 — Medisyn Technologies, Inc., a unique drug design and discovery company, today announced it has completed a $1.5 million bridge financing. The company’s proprietary technology makes drug discovery faster, more predictable and less expensive. The round closes officially on February 28.

Stan Baratz, the veteran Minneapolis financier, has formed MTI Investors, LLC—a group of Twin Cities investors that led the round.  Current investors Sherpa Trek I, LP, StarTec Investments, LLC, Andcor Companies, Inc., and Portage Capital also took part in this offer of convertible notes and warrants.

“This is a significant round for Medisyn,” said David Land, President of Medisyn Technologies. “This financing will enable the company to capitalize on its immediate market opportunities and move definitively into its next stage of growth,” Land explained.

Medisyn enables the rapid design and discovery of novel, diverse and unexpected compounds that meet exact requirements to treat a specific disease. The company is focused initially on treating cancer. It has more than 26 anti-cancer compounds in varying stages of development, with one nearing pre-clinical validation.

Over the last year, Medisyn has achieved considerable recognition within the scientific, biotech and pharmaceutical communities. In addition to being honored with the 2004 Minnesota Tekne Award in Emerging Biotechnology, Medisyn also is moving rapidly beyond successful pilot projects and into revenue-producing engagements with a number of leading pharmaceutical companies. 

Proceeds from this transaction will be used to reach three strategic milestones:    

  • Expand Medisyn’s current collaborations with existing pharmaceutical and biotechnology customers—including one of the top 10 pharmaceutical companies.

  • Advance Medisyn’s own anti-cancer drug candidates through pre-clinical studies.

  • Attract and retain a top-caliber CEO by mid-2005 who can lead the company through its future development stages

MTI Investors conducted significant due diligence to confirm the commercial viability of Medisyn. This included meetings with Medisyn’s scientific advisors and current customers, one of which is a leading biotechnology company with more than $1 billion in revenue.

“In the end, it was the customer testimony that satisfied the commercial credibility questions we had,” Baratz said. “It became readily apparent to us that Medisyn offers a unique solution for biotech and pharmaceutical companies that need to create more successful drugs, quickly and less expensively. We are optimistic about Medisyn’s ability to deliver on this critical market need,” he added.

After several months of interviews and assessments, Baratz agreed to lead the round. For their part—Sherpa, Andcor, StarTec and Portage have worked consistently and efficiently to guide and support Medisyn through its early stage development. They each remain active and committed to the company’s long-term success.

back to top

 

Medisyn Technologies Receives 2004 Tekne Award for Emerging Biotechnology

Tekne Awards honor key leaders and innovators in Minnesota technology industries 

Minnetonka, MN, November 12, 2004 – Medisyn Technologies, a pioneer in rapid drug design, was named the recipient of the Emerging Biotechnology category at the 2004 Tekne Awards held at the Minneapolis Convention Center on November 9.  The Tekne Awards recognize Minnesota’s outstanding technology achievements and leaders.

"We are thrilled and honored to have earned a Tekne Award," said David Land, President, Medisyn Technologies. "Tekne is the premier technology event in Minnesota, so receiving this kind of business community recognition is incredibly motivating for the Medisyn team and the many company supporters."
 

Sponsored jointly by The Minnesota High Tech Association (MHTA) and Minnesota Technology, Inc. (MTI) – and in partnership with Medical Alley, MNBIO and Minnesota Project Innovation – the Tekne Awards recognize technology innovators and leaders who have made lasting contributions to enhancing the quality of life and competitiveness of Minnesota.

“Earning a Tekne Award is a strong indicator of achievement and leadership in Minnesota’s competitive technology sectors,” said Dr. Wayne Pletcher, president & CEO, Minnesota Technology, Inc. “We’re very proud to honor homegrown successes like Medisyn, because its efforts help strengthen our entire industry, adding to the success of our business environment and our state’s economy.”
 

This year’s Tekne Awards were emceed by WCCO television anchor Don Shelby.

“Since we first started this program five years ago, it has grown to become a respected honor for our state’s technology innovators and leaders,” said Kate Rubin, president, Minnesota High Tech Association. “All of our 2004 Tekne Award recipients and finalists are living proof of the vital, thriving technology climate here in Minnesota.”
 

Tekne Awards are separated into emerging and established company categories recognizing the best and brightest in innovation, development, education, commercialization and management of technology in Minnesota. This year’s awards featured 51 finalists in 17 categories. A list of all recipients and finalists is available online at www.tekneawards.org.
 

About Minnesota High Tech Association (MHTA)

The Minnesota High Tech Association (MHTA) accelerates the growth, success and sustainability of Minnesota's technology-based economy through public policy advocacy, member collaboration and education, and community outreach. MHTA is the only membership organization that represents Minnesota’s entire technology-based economy. MHTA members include organizations of every size − involved in virtually every aspect of technology creation, production, application and education in Minnesota. MHTA works in partnership with AeA, which represents Minnesota's technology organizations nationally. Find out more online at www.mhta.org.
 

About Minnesota Technology Inc. (MTI)
Minnesota Technology Inc. (MTI) is a non-profit, 501(c)3 organization with the mission of helping its business customers gain competitive advantages, supporting their growth, and contributing to Minnesota’s economic vitality. MTI fulfills this work through a statewide staff of expert professionals who have tested expertise across a wide variety of business, technology, manufacturing, engineering, publishing and research disciplines. Over the last three years, MTI has helped nearly 2,000 Minnesota companies and made a significant economic impact. It helped create and retain over 2,500 jobs, saved its clients more than $70 million, and helped generate $80 million in new technology investments. For more information visit www.minnesotatechnology.org.

back to top

Medisyn Technologies Named as Tekne Award Finalist

Premier awards program recognizes Minnesota’s companies and individuals who have shown technology innovation and leadership 

Minnetonka, MN, September 28, 2004 – Medisyn Technologies has been named as a finalist for a 2004 Tekne Award, Minnesota’s annual awards program that recognizes companies and individuals who have shown superior technology innovation and leadership.
 

The Minnesota High Tech Association (MHTA) and Minnesota Technology, Inc. (MTI), in partnership with Medical Alley, MNBIO and Minnesota Project Innovation, join together to recognize technology innovators and leaders who have made lasting contributions to enhancing the quality of life and competitiveness of Minnesota. The awards are separated into categories that recognize the best and brightest in innovation, development, education, commercialization and management of technology in Minnesota.
 

“In the five years that we’ve been naming Tekne Award finalists, the program has become the premier awards for technology innovators and leaders in the state of Minnesota,” said Kate Rubin, president of the Minnesota High Tech Association. “The 2004 Tekne Award finalists show that Minnesota continues to produce cutting-edge technology and is a great place to do business.”
 

Dr. Wayne Pletcher, president of Minnesota Technology, Inc. added: “We are proud to honor Medsiyn Technologies as a 2004 Tekne Award finalist and are pleased to recognize their leadership in this industry.”
 

The 2004 Tekne Awards will be presented on Tuesday, Nov. 9 at the Minneapolis Convention Center, beginning with a reception at 4:30 p.m., followed by dinner at 6 p.m. and the awards ceremony at 7:00 p.m. Don Shelby, WCCO anchor and education and math advocate, will M.C. the event.
 

Fifty-one finalists have been named in 17 categories. A list of all finalists and categories can be found at www.tekneawards.org.   

back to top

 

Medisyn CEO presents at 2004 Minnesota Venture Capital Conference Forum

Minneapolis, June 7, 2004 - Medisyn Technologies CEO Jerry Mattys presented at the 2004 Minnesota Venture Capital Conference Forum. To view a copy of his presentation, click here.

back to top

Medisyn Technologies Completes Second Financing Round

Minneapolis, December 11, 2003 - Medisyn Technologies, Inc., an early stage biotechnology company focused on designing and characterizing new drugs, announced today that it has completed a $1.5 million bridge financing.  Current investor Sherpa Partners led the round that included new venture capital and angel investors.  Proceeds from the financing will be used to further the testing of promising lead drug candidates and fund the completion of pilot projects already underway with major pharmaceutical partners.   

Gerald R. Mattys, Medisyn’s chief executive officer, commented on the company’s financing:  “Even in this tough financing environment, we were able to convince both new and existing investors to participate in this round because of our success in achieving commercial validation milestones.  This financing will allow us to expand testing of our most promising lead drug candidate, MT103 for treating lung cancer.  It also affords us the opportunity to broaden our partnerships with leading pharmaceutical companies looking for new drug candidates and technologies that help speed drug development.” 

“Pharmaceutical companies are partnering with companies like Medisyn to gain early access to promising drug candidates,” stated Steven Pederson, Partner, Sherpa Partners, LLC.  “This year, Medisyn has validated their proprietary approach to drug design and assessment and made significant progress in bringing their first drug into human trials.  We are excited about helping Medisyn realize their vision for bringing new drug therapies to market.”

back to top

 

Medisyn profiled as part of the "Next Big Thing" in Minnesota Technology Magazine

Minneapolis, March 15, 2003 - Medisyn Technologies CEO Jerry Mattys is featured in the March 2003 issue of Minnesota Technology Magazine. The article profiles Minnesota companies that are leading the way towards establishing Minnesota as a hub of biotech activity.. The full article can be found in the Winter 2003 print version of Minnesota Technology Magazine or on the Minnesota Technology website.

back to top

Medisyn Featured In
MinnesotaBusiness Magazine

Minneapolis, March 3, 2003 - Medisyn Technologies CEO Jerry Mattys is featured in the March 2003 issue of MinnesotaBusiness Magazine. The article in the Leading Edge section discusses how Medisyn's technology is used to discover and license new drug candidates for pharmaceutical companies looking to accelerate their drug discovery pipeline. Medisyn is a Twin Cities-based startup that continues the tradition of biotechnology innovation in Minnesota. The full article can be found in the printed version of MinnesotaBusiness Magazine.

An abstract for the article can be found on the MinnesotaBusiness website.

back to top

Medisyn Technologies Completes Early Financing Round

Minneapolis, November 26, 2002 - Medisyn Technologies, Inc. an early stage biotechnology company focused on discovering new treatments for cancer, announced today that it has completed a $1.6 million financing. New investor Sherpa Partners led the round, with StarTec Investments also participating. Partner Steven Pederson of Sherpa will join Medisyn's Board of Directors. Proceeds from the financing will be used to increase the discovery and testing of promising lead drug candidates. Medisyn already has twenty (20) patent-pending cancer compounds in its portfolio for license to pharmaceutical partners.

Gerald R. Mattys, Medisyn's chief executive officer, commented on the company's financing: "Being able to attract venture capitalists with experience growing early stage companies is a huge vote of confidence for the management team and technology of Medisyn. This financing will allow us to expand our scientific efforts to prove the efficacy and safety of our cancer fighting drug candidates and identify promising new compounds for development. It will also give us the opportunity to pursue partnerships with leading pharmaceutical companies needing predictable drug candidates to advance through their product pipelines into the marketplace."

"Pharmaceutical companies are clamoring for pre-qualified drug candidates," stated Steven Pederson, Partner, Sherpa Partners, LLC. "Medisyn has what pharmaceutical companies need to accelerate their development and launch of new drugs. We are excited about helping Medisyn realize their vision for discovering new cancer therapies."

back to top

Medisyn's David Land Honored as Innovator of the Year

Minneapolis, October 30, 2002 - Medisyn Technologies President David Land was honored as an Innovator of the Year by Finance & Commerce, a Twin Cities business daily at an award ceremony on September 23, 2002. David was recognized for embracing innovative technology and aggressively working towards commercialization. Medisyn is a Twin Citied-based biotechnology startup.

The full article can be found on the Finance & Commerce website.

back to top

David Land Awarded "Best of Show" at Minnesota Venture Capital Conference

Minneapolis, May 10, 2002 - Four start-up companies received "Best of Show" awards for outstanding business plan presentations at the MN Venture Capital Conference held May 8 and 9 in Minneapolis. A group of 12 judges rated 22 presenters on their ability to communicate a clear and compelling business opportunity to investors and attendees. The awards were sponsored by Netsuds.com and Medicalsuds, the conference coordinator, and Spoken Impact, which provided presentation training and consulting to the presenters. Winners in the Medical Category for "Best of Show" were:

GOLD - David Land, CEO, Medisyn Technologies. This biotech startup aims to commercialize breakthrough technology that can speed up the drug development lifecycle. Medisyn provides value-added drug discovery services and drug licensing candidates. Pharmaceutical companies can save up to 7 years and $250 Million in traditional research and development costs. In one year, Medisyn's research has produced patent-pending compounds for breast, renal, prostate and lung-cancer treatments. (www.medisyntech.com)

SILVER - Kevin Sundquist, CEO, MR Instruments. This revenue generating company is commercializing the next generation imaging coils in the $3B MRI market with 5 patents and trade secrets from world-class scientists. Their priority technology can improve the image quality and lower the cost of every new MRI system and they are first to market in the new, higher field strength magnets that are leading MRI research. (www.mrinstruments.net)

BRONZE - Thomas E. Brust, CEO, Micronet Medical. This medical device company has launched the world's first micro-lead technology to address a large unmet need in neurostimulation for chronic pain management. With its superior maneuverability and precise placement, MicroNet's technology increases surgical success rates and has found strong acceptance among key opinion leaders. (www.micronetmedical.com)

"Best of Show" winner in the Communications/Internet category:

GOLD - Roald Marth, CEO, WhereToLive. The company's web-based software platforms enables real estate brokers and agents to engage in real-time real estate through a suite of tools that leverages the Internet for listing distribution, lead generation, online marketing and contact management. The WhereToLive.com Industry Portal aggregates the broker and agent listings while also providing consumers with a highly intuitive web interface. (www.wheretolive.com)

Matt Noah, CEO of NetSuds.com, stated, "Investors from Minnesota, Iowa, Wisconsin, Illinois, North Dakota, California, Arizona, New York and Massachusetts representing over $15 billion dollars in venture capital came to the Conference to look for quality investments. Twenty-two companies gave 15-minute presentations and we all witnessed the follow-up conversations, the private lunches and impromptu meetings in the hallways. Venture capitalists are active and investing in Minnesota." Spoken Impact, Inc. is a public speaking training and consulting firm that helps business executives create and deliver more impactful speeches and presentations. The company can be reached at www.SpokenImpact.com. Netsuds.com, Inc. is a business development and networking organization serving the telecom, datacom, IT and Internet professional in Minnesota. The company produces events which create business opportunities for attendees. NetSuds.com has also extended its mission to serve the medtech, biotech and life sciences professional in Minnesota with its new organization MedicalSuds. More information is available at www.netsuds.com, and www.medicalsuds.com . Questions: Contact Joan Moser at 612-377-3686

back to top

Upcoming Events

Look for additional upcoming events soon.

back to top
© 2006 Medisyn Technologies, Inc.
Privacy and Terms of Use