SEATTLE--(BUSINESS WIRE)--Mirina Corporation, a privately held biotechnology company focused on the generation of novel microRNA (miRNA) therapeutics with improved properties, announced today that it will change its name to Groove Biopharma. At this time, the company will remain under the management of Accelerator Corporation.
“I am pleased that we have chosen to communicate Groove’s identity as unique players in the RNA therapeutics space with a name and brand that are as equally unique,” said David McElligott, Ph.D., Vice President of Research at Groove Biopharma. “We feel that our technology is distinct from less evolved technologies in the field and we wanted a name and image that reflect that distance from the competition. The name Groove, also reflects our corporate philosophy in that creating something new requires improvisation and not just playing the same notes as everyone else.”
“Accelerator and its investors recognize that emerging companies with cutting-edge technology at times may need to adjust their branding in ways that are more relevant and appropriate to both internal and external developments and events,” said Carl Weissman, Chairman and CEO at Accelerator Corporation. “This change of corporate identity more accurately reflects the remarkable discoveries and developments the company has made with its proprietary technology platform - discoveries that the company will be able to describe in the coming months. And while the name of the company is changing, its MirinaTM microRNA drug discovery and development services will continue to be offered under that mark. We applaud the fantastic progress the company has made and feel confident that Groove Biopharma will continue and even accelerate that pace of discovery and achievement.”
For detailed information on the company, please visit the new website: www.groovebiopharma.com.
About Groove Biopharma
Founded by Accelerator Corporation in conjunction with Elitech Corporation (fka Nanogen) in 2008, Groove Biopharma (fka: Mirina Corporation) develops therapeutics using Minor Groove Binder Technology (MGB) to affect cellular processes involving microRNAs. Mirina holds an exclusive license to the technology from Elitech for use in therapeutics. Elitech developed and patented novel methods for preparing oligonucleotides appended with chemical agents – that modify binding to target sequences in RNA or DNA. By incorporating this technology into miRNA therapeutics, Groove Biopharma’s novel MGB-oligonucleotide compounds are anticipated to exhibit superior properties, such as enhanced target selectivity, better potency, and improved pharmacological activity. Groove Biopharma’s technology presents promising potential for treating a wide range of diseases including cancers, infectious disease and metabolic disorders. For more information, please go to: www.groovebiopharma.com.
About Accelerator Corporation
Accelerator Corporation, founded in 2003, is a privately held biotechnology investment and development company located in Seattle, Washington, USA. The company is building the next generation of life-enhancing biotechnology companies by providing the resources critical to accelerating the development of nascent leading-edge biotechnologies. These key resources, provided by global life science leaders – Amgen Ventures; ARCH Venture Partners; OVP Venture Partners; PPD, Inc.; Alexandria Real Estate Equities, Inc.; WRF Capital; and the Institute for Systems Biology – include committed capital from top-tier venture capital firms, state-of-the-art facilities, world-class scientific and technical expertise and support, and experienced biotechnology start-up business management and support. For more information, please go to: www.acceleratorcorp.com.