Florida Institute finalizes funding agreement with Genetic Networks

The Florida Institute for the Commercialization of Public Research (the Institute) announced today that it has finalized a funding agreement with Genetic Networks, a Miami based company with technology developed at the University of Miami.

Genetic Networks accelerates drug discovery and predictive medicine through its proprietary data-driven approach that delivers actionable data on both genes and compounds.

The Institute supports new company creation based on publicly-funded research, and bridges early funding gaps for companies spinning out of Florida-based universities and research institutions.

"Genetic Networks' translational medicine informatics engine rapidly identifies lead compounds to therapeutic targets bridging the gap between drug targets, molecules and medicine," said Gennaro D'Urso, PhD, Genetic Networks founder. "Our engine is revolutionary in providing a technology that can rapidly move from disease gene to lead compound without the need to develop time consuming and costly high-throughput screens," he further added.

"The Institute is pleased to support the Genetic Networks team as they work to decrease the time and expense associated with early drug detection," said Jamie Grooms, Institute Chief Executive Officer. "By providing comparable target and drug optimization insights, Genetic Networks' engine will ultimately improve decision making, expand opportunity, and reduce risk associated with drug development."