Evolved Nanomaterial Sciences Completes Series A Financing; Venture Firm Harris & Harris Group Backs Cambridge Nanotech Company.
CAMBRIDGE, Mass. -- Evolved Nanomaterial Sciences (ENS), a Cambridge-based company that uses nanotechnology to revolutionize the chiral chi·ral
Of or relating to the structural characteristic of a molecule that makes it impossible to superimpose it on its mirror image.
chi·ral separations essential to the drug development process, recently completed a $3.3 million Series A round of financing led by Harris and Harris Group, Inc., a publicly traded venture capital firm that makes initial investments exclusively in tiny technology, including nanotechnology, microsystems and microelectromechanical systems See MEMS. (MEMS (MicroElectroMechanical Systems) Tiny mechanical devices that are built onto semiconductor chips and are measured in micrometers. In the research labs since the 1980s, MEMS devices began to materialize as commercial products in the mid-1990s. ).
"The future of drug discovery and manufacture rests squarely with chiral therapeutics which represent more than 80 percent of all new drugs in the pipeline," said ENS CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Robert Pucciariello. "Yet current methods for chiral separation are slow, unreliable and often unscalable Adj. 1. unscalable - incapable of being ascended
scalable - capable of being scaled; possible to scale; "the scalable slope of a mountain" for manufacture. Harris & Harris Group's knowledge of the nanotechnology space enabled them to recognize how ENS's technology will speed up and simplify the drug development process."
Using a patented nanotechnology, the company's HPLC HPLC high-performance liquid chromatography.
high performance liquid chromatography.
HPLC High-performance liquid chromatography Lab instrumentation A highly sensitive analytic method in which analytes are placed Chiral Columns enable previously unattainable molecular separations by offering unprecedented selectivity and scalability, and dramatically simplifying the research and analysis process. ENS's forthcoming product line effectively separates a broad spectrum of chiral chemical compounds, including both large and small molecules. It promises to remove much of the current trial and error in chiral chromatography column and condition selection.
Chiral separation is a process by which scientists, particularly in drug development and clinical trials, separate mirror-image molecules: one of which is often therapeutic or beneficial; the other of which can produce unwanted side effects Side effects
Effects of a proposed project on other parts of the firm. .
ENS will use the funding to fill out its manufacturing and product development capabilities, and support the upcoming launch of its first line of commercially available chiral columns in second quarter 2006.
The company's technology has also demonstrated superior performance on low molecular weight compounds. The enabling capabilities of its columns, shorter method development times needed, and higher capacity and throughput in batch chromatography all address critical points in the drug development pipeline, helping to speed new drugs into clinical trials. Most top-selling drugs are chiral, including Lipitor(R), Nexium(R) and Viagra(R), and more than 50 percent of current drug sales are from chiral drugs.
ENS's HPLC column technology will be exhibited to more than 20,000 scientific professionals next week at the 57th Pittsburgh Conference on Analytical Chemistry and Applied Spectroscopy at the Orange County Convention Center The Orange County Convention Center (OCCC) is the primary public convention center in Central Florida. The large complex is located on International Drive, a major tourist area in Orlando, Florida. Exposition in Orlando.
About Evolved Nanomaterial Sciences (ENS)
Headquartered in Cambridge, MA, ENS utilizes patented nanotechnology to enable previously unattainable molecular separations, offering unprecedented selectivity and dramatically simplifying the drug discovery and scale-up process. ENS' web site is www.ensbio.com.
About Harris & Harris Group, Inc.
Harris & Harris Group, Inc. (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : TINY) is a publicly traded venture capital company that now makes initial investments exclusively in tiny technology, including nanotechnology, microsystems and microelectromechanical systems (MEMS). The company's last 27 initial private equity investments have been in tiny technology-enabled companies. For more information, go to http://www.tinytechvc.com.