Aarden recently received a $500,000 grant from the Indiana Economic Development Corporation’s (IEDC) 21st Century Research and Technology Fund.

Press Release

Indianapolis, IN, November 10, 2009 – A new biotech company has established its headquarters in Indianapolis. Aarden Pharmaceuticals is focusing on a technology developed in the laboratory of Dr. Zhong-Yin Zhang, Robert A. Harris Professor and Chairman of Biochemistry and Molecular Biology at Indiana University School of Medicine, and an internationally recognized expert in the field of protein tyrosine phosphatases (PTPs).

Dr. Zhang’s chemistry breakthrough allows drugs that block PTPs to be made for the first time, opening the door to new treatments for a variety of tough diseases.

Aarden’s tuberculosis (TB) drug, I-A09, is currently in pre-clinical development. Independent studies are now running concurrently at two major universities to demonstrate the effectiveness of I-A09 for TB in animal models.

Aarden is also focusing on breast cancer, diabetes, obesity and autoimmune diseases such as rheumatoid arthritis and lupus.

“We have made some significant progress in the development of drug-like compounds that can be effective against the PTPs, which were deemed undruggable,” said Dr. Zhang. “These results will directly impact drug discovery programs targeted to the PTPs and will help in future disease treatment.”

Aarden recently received a $500,000 grant from the Indiana Economic Development Corporation’s (IEDC) 21st Century Research and Technology Fund.

“The 21 Fund grant will help Aarden establish the effectiveness of its drug platform using TB as its proof-of-concept for the technology.” said Gary Noonan, president and CEO of Aarden. “Establishing Aarden in Indiana made sense for us from a scientific and business perspective. Not only are the funding opportunities critical early on in moving our drug and technology platform forward, but access to the entire life sciences community here will enable us the opportunity to be successful.”

“Aarden Pharmaceuticals is another example of an Indiana company on the verge of developing technology that could impact lives around the world,” said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. “Keeping companies with high growth potential, like Aarden, in Indiana is a primary purpose of the 21 Fund and we are pleased they have chosen to locate here.”

Aarden has also received funding from the Indiana University Medical Group Foundation (IUMG) to advance this exciting technology. In addition, through the strategic support and resources of BioCrossroads, Aarden continues to build its presence and awareness in central Indiana.

About Aarden

Aarden (www.aardenpharma.com) is a small molecule drug discovery and development company. The company’s novel technology from the labs of the Indiana University School of Medicine is a chemistry breakthrough that will enable it to make drugs against a previously undruggable set of intracellular phosphatase (PTP) disease targets. Aarden’s first programs are focused on infectious disease, cancer, metabolic and autoimmune conditions.

About IEDC
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Indiana Secretary of Commerce Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.

Source: BioCrossroads