Cardea Bio and Nanosens Innovations Look to Combine Companies
LA JOLLA, Calif., Sept. 6, 2019 /PRNewswire-PRWeb/ -- The Board of Directors of Cardea Bio and the Board of Directors of Nanosens Innovations have each authorized the respective companies to proceed with a proposed business combination. After the closing, Nanosens would become a subsidiary of Cardea, with the Nanosens brand representing a series of products leveraging the CRISPR-Chip technology. The closing of the proposed transaction is subject to stockholder approval, definitive documents and customary closing conditions.
There is global excitement for CRISPR-Chip, which combines Nanosens' CRISPR-Cas9 nucleotide detecting technology and Cardea's revolutionary graphene biosensor platform. By joining forces, the two companies are poised to more rapidly bring the power of CRISPR-Chip to the genomics market.
Dr. Francie Barron, Vice President of Cardea's Innovation Partnership Program states: "The CRISPR-Chip has generated impressive levels of interest from companies both large and small, who realize the disruptive potential CRISPR-Chip has across many markets. With our Innovation Partnership Program, Cardea can finally offer the combined solution and work as one big team."
Cardea CEO (and Nanosens co-founder) Michael Heltzen continues: "To show the world how aligned and well-integrated the two teams already are from having worked closely together for so long, we decided to move up and launch our Early Access Program for the Genome Sensor today at AGBT, on the very day of the announcement of the proposed combination with of the two companies."
With the new Genome Sensor product, you will be able to search e.g. an unamplified genome by programming the chip with a gRNA "search query" to get your answer back very fast. This creates a whole new technology vertical in the Genomics and DNA detection industry. This product is just the first of more products using the CRISPR-Chip technology that Cardea will offer to the research market under the Nanosens brand, with additional products planned for other markets by Cardea's Innovation Partners. With this launch, Cardea is paving the product development pathway for its partners, ensuring them a quicker time-to-market. This is remarkably fast progress, given this technology was first publicized this June 2019 on the cover of Nature Biomedical Engineering.
Heltzen adds a longer-term perspective: "In today's society, we can get almost any information we need immediately via our smartphones and the internet, but really important Precision Health questions still take days or weeks. Cardea's long term mission is to provide those answers immediately via FDA approved systems, and with the launch of our Early Access Program we've taken a key step towards realizing that vision."
Dr. Kiana Aran, co-founder of Nanosens, who will join Cardea as Chief Science Officer as part of the transaction, adds: "We're excited to become part of Cardea and develop new and innovative uses for our combined technologies. To help realize the potential, we're calling all genomics innovators to join the Early Access Program to accelerate our research and product development so that we can empower everyone with immediate insight into their genome via "Powered by Cardea" instruments."
Forward-looking statements
This press release contains forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events, plans, and trends, as well as other statements containing the words "subject to", "believe", "anticipate", "plan", "expect", "intend", "may", "will", "should", "would", "could", "can", and similar expressions. The statements in this press release containing such statements and words constitute forward-looking statements. In addition, the forward-looking statements included in this press release represent the presents views as of the date hereof. It is anticipated that subsequent events and developments may cause the views expressed herein to change. The forward-looking statements in this press release involve risks and uncertainties, including that the transaction may not be consummated.
Genome Sensor Early Access Program Requests: http://www.nanosens.com/Genome-Sensor
SOURCE Cardea Bio
