Technology Management & Funding announces licensing agreement between Boron Biologicals and Duke University; Nucleic acid technology provides significant breakthroughs for DNA diagnostics and therapeutics, now available for licensing to worldwide market segments.

PRINCETON, N.J.--(BUSINESS WIRE)--Aug. 8, 1995--Technology Management & Funding, L.P. (TMF), a firm providing unique commercialization and funding solutions to emerging high-technology companies, has announced a licensing agreement between Boron Biologicals Inc. (BBI), one of its portfolio companies, and Duke University.

The agreement covers several patents, issued and pending, regarding the synthesis and application of boronated nucleic acids. The family of boronated compounds related to DNA and RNA are the focus of BBI's collaboration with Duke University.

BBI has developed novel ways of creating molecules that are similar to those that occur in nature but have at least one boron atom inserted at key locations. These boronated biomolecules have unique characteristics which lead to the development of significantly improved DNA diagnostics and therapeutics. In addition, the company's approach represents a unique tool for researchers attempting to find the correct lock and key molecules using rational drug design.

"Boron Biologicals Inc. is the only company in the world focused on the boronation of biologically active compounds," said Dr. Karen J. Giroux, vice president of TMF. "The collaborative efforts of BBI and Duke University have resulted in significant breakthroughs with nucleic acids. These compounds hold exciting possibilities for significant improvements in therapeutics and diagnostics."

Boronated strands of DNA or RNA are strongly resistant to enzyme degradation by nucleases present throughout the body. They also have the potential of moving more easily through cell membranes. These breakthroughs offer great promise as an enabling technology in the development of antisense and gene therapies to combat genetic diseases.

Boronated nucleotides also form the basis of the Shaw-Porter sequencing technique, a new simplified and automated PCR sequencing method which can be used for identification of gene sequences. The basis of this technology resides in the ease of incorporation of boronated nucleotides into nucleic acid molecules by DNA polymerase, coupled with the nuclease resistance provided by these modified nucleotides.

Another valuable use of BBI's nucleic acid technology is a simplified method for detecting boronated compounds. Incorporation of these compounds will allow identification "sites" where the boronated molecules attach to complimentary naturally occurring DNA or RNA. The greatest advantages to this detection method, over all known competing technologies, are its speed, simplicity, low cost, accuracy and quantifiability.

"Boronated nucleotides have presented BBI with a near-term commercial opportunity in the exploding DNA sequencing and diagnostics markets," explained Dr. Bernard F. Spielvogel, chairman of BBI. "Novel boronated molecules also have intriguing innate biological activities which add a new dimension to rational drug design."

TMF specializes in establishing partnering relationships between the technology-based companies in its portfolio and corporations that can provide funding and market access to these innovative technologies. The commercialization plan that TMF developed with BBI will initially focus on partnering activities within the nucleic acid diagnostic and therapeutic sectors, including DNA sequencing and detection, antisense, and gene therapy. Currently, TMF is in discussions with a select group of pharmaceutical and biomedical companies who are interested in pursuing collaborations for these areas.

The projected total market for DNA probes by 1997 is $686 million. The antisense and gene therapy world-wide markets are estimated to have multi-billion dollar potentials. The markets for therapeutics derived through rational drug design are both broad and substantial.

Boron Biologicals Inc., based in Raleigh, North Carolina, is a research and development company. BBI has pioneered the development of "organic" boron biomolecules which, while similar to natural carbon-based biomolecules, exhibit unique properties of their own that form the basis for an untapped, commercially valuable technology. New chemistries with pharmaceutical, diagnostic and other life-science applications are derived from BBI's technology. Biomedical applications of BBI's technology include DNA-based diagnostics and therapeutics, diagnostic imaging, and Boron Neutron Capture Therapy. Further, in preclinical studies, BBI's biomolecules have demonstrated a high level of pharmacological activity against cancer, osteoporosis, viral infections, high cholesterol and inflammation.

Technology Management & Funding, L.P., based in Princeton, accelerates the process of building equity value in emerging high-technology companies, while minimizing investment risk. TMF bridges the gap between technological innovation and commercialization by establishing partnerships between small technology companies and major corporations. TMF currently has over 37 companies in its portfolio that have developed breakthrough technologies ranging from industrial products and biotechnology to software and telecommunications.

CONTACT: Technology Management & Funding, Princeton

Cristal Downing, 609/921-2001

[e-mail]