Date: 2014-10-09
Type of information: Establishment of a new subsidiary in the US
Compound:
Company: Oryzon Genomics (Spain)
Therapeutic area: Cancer - Oncology - Neurodegenerative diseases
Type agreement: establishment of a new subsidiary in the US
Action mechanism:
Disease:
Details: * On October 9, 2014, Oryzon Genomics announced that the Company is opening a U.S. operation which will be located at 245 First Street in Cambridge, Massachusetts. After incorporation of its U.S. affiliate, Oryzon Corp, in July 2014, the U.S. arm of Oryzon Genomics is now fully launching its operations in Massachusetts. Oryzon plans to have 15-20% of its total headcount in its U.S. office in the next quarter.
Through the Massachusetts Life Sciences Center, Massachusetts is investing $1 billion over 10 years in the growth of the state’s life sciences supercluster. These investments are being made under the Massachusetts Life Sciences Initiative, proposed by Governor Patrick in 2007, and passed by the State Legislature and signed into law by Governor Patrick in 2008. MLSC has been in discussions with Oryzon since first meeting with them at the BIO convention in Boston in 2012.
Oryzon is a clinical stage biopharmaceutical company and an European leader in epigenetics that tries to modulate the enzymes governing the regional functionality of the chromatin and thereof the expression of genes residing there. By switching off those modulators, genes that are improperly activated can be turned off, stopping the progression of severe diseases such as cancer and neurodegenerative disorders. Oryzon’s strategy is to develop “first in class” drugs through Phase II clinical trials, at which point it is decided on a case-by-case basis to either keep the development in-house or to partner or out-license the compound for late stage development and commercialization.
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