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IMUNON Announces Strategic Investment in Transomic Technologies
Investment of $375,000 with Senior Convertible Notes and Warrants; Strengthens Development Capabilities for IMUNON’s PLACCINE DNA Vaccine Platform IMUNON’s
About this update from Imunon, Inc.
[{"type":"text","content":"Investment of $375,000 with Senior Convertible Notes and Warrants; Strengthens Development Capabilities for IMUNON’s PLACCINE DNA Vaccine Platform IMUNON’s Executive Chairman to join Transomic’s Board of Directors LAWRENCEVILLE, N.J., Nov. 17, 2022 (GLOBE NEWSWIRE) -- IMUNON, Inc. (NASDAQ: IMNN), a clinical-stage company focused on DNA-based immunotherapy and next-generation vaccines, today announced a $375,000 investment in Transomic Technologies, a private company offering a comprehensive array of CRISPR, RNAi and gene expression tools and services. The Company has partnered with Transomic to utilize their custom vector construction services to continue to generate plasmids that are being developed and evaluated by IMUNON as part of their DNA vaccine program. As a condition of the investment, Michael H. Tardugno, IMUNON’s executive chairman, will join the Transomic board of directors. “Given our continued progress with the PLACCINE DNA vaccine development program, we have made the strategic decision to continue to support Transomic Technologies with this investment,” said Corinne Le Goff, president and chief executive officer of IMUNON. “We have been utilizing Transomic’s custom vector construction and design services, and we are very pleased with the strength and flexibility of their platform.” “We recently highlighted initial pre-clinical proof-of-concept data of our PLACCINE modality in a SARS-CoV-2 model, demonstrating the versatility of this technology to allow for the rapid design of multi-cistronic vectors expressing multiple pathogen antigens in one vaccine,” she added. “Transomic’s custom vector construction technology enables us to swiftly construct vaccines against newer variants in weeks, providing an important medical and commercial advantage.” Blake Simmons, CEO of Transomic Technologies, said, “We are pleased to collaborate with the team at IMUNON in their pursuit of next-generation vaccines. Their PLACCINE DNA vaccine program is very promising, and we are hopeful that our services will help to unlock its potential. We look forward to continued participation in IMUNON’s research and development efforts and welcome our deepening partnership.” About the PLACCINE Modality PLACCINE, part of IMUNON’s proprietary nucleic acid technology with synthetic delivery systems platform, is the subject of multiple patent applic...