Znomics is an early stage biotechnology company focused on the discovery of new drugs to treat and cure human diseases and disorders. What makes Znomics unique is the method by which it searches for the next big cure or treatment. The eight-year old company uses zebrafish to identify potential therapeutics for humans. It turns out that the small striped fish shares 80 to 90 percent of the genes found in man. The company’s drug discovery platform is based on its catalogued library of mutations in the zebrafish, called the ZeneMark Library.
The benefits of using zebrafish for medical research are numerous. Zebrafish are translucent so researchers and scientists can see what’s going on inside of them. They reproduce quickly and are cost-efficient. In addition, they mature quickly so scientists can begin their research within a matter of days after the birth of a new zebrafish. Znomics says it can use the zebrafish to examine more compounds and lower the costs of developing new drugs. The Oregon-based company says its efforts are focused on three primary areas: cancer, inflammation and obesity.
Noteworthy is the fact that Znomics doesn’t consider itself a pharmaceutical company. Rather it views traditional pharmaceutical companies as potential customers and those customers will demand proof of Znomics’ ability to develop new chemical compounds by using the zebrafish. Znomics expects to be able to deliver those compounds within the next three years, according to recent news reports. The company said it has had encouraging discussions with large pharmaceutical companies.
The company also has a collaborative agreement with the University of Utah (USA) relating to the development of compounds for the treatment of T-cell leukemia, autoimmune diseases, and inflammation, as well as for the complications associated with organ transplantation.
Shares of Znomics closed at $1.74 on Wednesday on volume of 500 shares. The shares have traded between $1.70 and $3.05 over the past 52 weeks. Znomics has 11.1 million shares outstanding and total assets of $2.83 million with a market capitalization of $19.27 million. The company has yet to turn a profit.
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