Mirna Therapeutics Recommended for $10 Million Commercialization Award from the Cancer Prevention and Research Institute of Texas

AUSTIN, Texas--(BUSINESS WIRE)--Mirna Therapeutics announced today that the Company received notice of a $10.3 million award from the State of Texas through the Cancer Prevention and Research Institute of Texas (“CPRIT”). Mirna was one of three companies recommended for the award in the inaugural company commercialization awards. CPRIT was established to expedite innovation and commercialization in the area of cancer research and to enhance access to evidence-based prevention programs and services throughout the State. The State has announced $142 million in awards to fund innovative cancer research and prevention programs. Acceptance of the award is subject to the completion of due diligence and contract negotiations.

“CPRIT has the opportunity to make a substantial difference in expediting the development of new cancer therapies and we’re pleased they have recognized Mirna and the promise of microRNAs to such end.”

“We are pleased to have been recommended for a significant $10.3 million award from CPRIT for advancing our strong microRNA mimic discovery platform and a pipeline with several very promising drug candidates for the treatment of cancer,” said Paul Lammers, M.D., President and CEO. “We are especially pleased to receive this notice given the rigorous review of the science and business opportunity by the CPRIT Commercialization Review Council whose members have substantial scientific, venture capital, and commercial expertise.”

“We recognized very early that microRNAs, could play a very important role in the fight against cancer given their key role in controlling gene expression, and starting back at our previous company Ambion in 2002, we began a systematic effort to develop miRNAs for both diagnostic and therapeutic uses," said Matt Winkler, Ph.D., Founder and Chairman. “CPRIT has the opportunity to make a substantial difference in expediting the development of new cancer therapies and we’re pleased they have recognized Mirna and the promise of microRNAs to such end.”

About Mirna Therapeutics

Mirna Therapeutics, Inc. (Mirna) is a biotechnology company founded late 2007 as a spin-off from Asuragen Inc. and is located in Austin, Texas. Mirna’s is focused on the development of miRNA–directed therapeutics for the treatment of cancer and other diseases. Mirna is developing “MicroRNA Replacement Therapy” which involves introducing microRNAs back into tumors to boost cellular tumor suppressor abilities, ultimately leading to cancer cell death and tumor shrinkage. In November 2009, Mirna received a $5 million award from the State of Texas Emerging Technology Fund.