Canada's Top 10 Life Science Companies Competition-a program of the Ottawa Life Sciences Council-is an annual national competition sponsored by Borden Ladner Gervais LLP and htx.ca - The Health Technology Exchange. The awards are presented to growth-oriented companies and are chosen by an independent expert panel of Canadian and U.S. venture capitalists. As one of Canada's Top 10, Rimon-along with other competition winners and alumni-will participated in an investment forum series that took place in early 2007 in New York, Boston.

Here are Mike’s musings about the events, and the impact of the success of the clinical trial is making on Rimon’s messaging:

“The Canadian consulates in Boston and New York City hosted the top ten companies that received the award thought the Ottawa Life sciences Council. At both events we each made a formal presentation and had opportunities to meet investment bankers, intuitional VCs, service providers, angel investors, and VCs. The Boston event had 50 people and was tied to a Licensing Executive Society meeting. The New York event was well attended with 150 in attendance. In New York there was a panel and a great informal networking event over cocktails.

We got strong feedback from both presentations. Rimon’s message is simple; the value proposition is clearly laid out. We primarily dwell on the opportunity in these presentations and the science second. We focus on what makes us unique. This approach works well. The Theramer™ concept is immediately appreciated as different. It is a bit “off the wall” – a polymer, a plastic that in drug like. One way to think of a Theramer™ is as a 3-dimensioanal drug. It is one of those different ideas that require validation and demonstration for people to believe. We are getting to that with our clinical data that have produced positive results. We have shown with statistical significance that we can reduce enzyme levels in chronic wounds compared to base line and one of the world’s most successful brands with good co-relation between that inhibition and improved wound bed quality (a precursor to wound healing). We are getting much more positive information than we ever expected from this trial. The clinical trial we have collected validated our strategy of picking an application that would allow us to get into clinical studies fast. The data we have collected from human wounds just could not be replicated even with five times as many animal experiments. So, we plan to continue finding new applications for Theramers™ that validate the technology and get us to clinical trials and on the market as quickly as possible. The Theramer™ concept is a novel idea with great opportunities.”

Click for coverage in Canadian Business.

OLSC: Rimon Therapeutics Named One of Canada's Top 10 Life Science Companies

TORONTO, ONTARIO--(CCNMatthews - Nov. 27, 2006) – Rimon Therapeutics is pleased to announce it has won industry recognition from another national awards competition. The Toronto-based biotechnology firm was named one of Canada's Top 10 Life Science Companies at a ceremony in Ottawa on November 20, 2006.

"We appreciate being recognized as one of Canada's Top 10 Life Science Companies," said Michael May, President of Rimon. "It comes at a promising time for our company with the clinical validation of our novel therapeutic polymer (Theramer^TM) platform technology and the near-term product licensing opportunities generated with some of the world's largest medical device companies. This award recognizes Rimon's ability to advance a robust pipeline of products to commercialization."

Canada's Top 10 Life Science Companies Competition-a program of the Ottawa Life Sciences Council-is an annual national competition sponsored by Borden Ladner Gervais LLP and htx.ca - The Health Technology Exchange. The awards are presented to growth-oriented companies and are chosen by an independent expert panel of Canadian and U.S. venture capitalists.

The award comes only a few months after Rimon was recognized at another high-profile Canadian biotechnology event: Rimon was named "Most Promising Early Stage Company" at CANMEDBIO 2006's National Presidents' Awards, on June 19, 2006.

As one of Canada's Top 10, Rimon-along with other competition winners and alumni-will participate in an investment forum series taking place in early 2007 in New York, Boston, San Francisco and San Diego.

About Rimon Therapeutics

Rimon Therapeutics Ltd. is the Theramer^TM Company. Theramers^TM (therapeutic polymers) are polymers that have drug-like activity, but can be marketed and regulated as devices. Rimon's Theramers^TM induce the development of new blood vessels, prevent the destruction of tissue, and kill bacteria without harming human cells. The company is engaging some of the world's largest medical device companies about using these unique polymers to heal chronic wounds (e.g., bedsores and diabetic ulcers), treat heart disease, delay knee replacement, and prevent medical device-related infections. Preliminary results from the Company's first, human clinical trial of its MI-Sorb^TM Dressing for chronic wounds are very promising and represent a key milestone in the validation of Rimon's unique, value proposition-drug-like margins and device timelines, together with the versatility of polymer chemistry.

Rimon Therapeutics Ltd.
Dr. Michael May, PhD
President
416-977-2003
416-977-6383 (FAX)
may@rimontherapeutics.com

or

Media Contact:
What If What Next
Howard Oliver
416-638-8582
holiver@whatifwhatnext.com

Rimon Therapeutics Ltd. (Toronto, ON)

www.rimontherapeutics.com

Rimon Therapeutics Ltd. is the Theramer™ Company. Theramers™ (therapeutic polymers) are polymers that have drug-like activity, but can be marketed and regulated as devices. Rimon’s Theramers™ induce the development of new blood vessels, prevent the destruction of tissue, and kill bacteria without harming human cells. The company is engaging some of the world’s largest medical device companies about using these unique polymers to heal chronic wounds (e.g., bedsores and diabetic ulcers), treat heart disease, delay knee replacement, and prevent medical device-related infections. Preliminary results from the Company’s first, human clinical trial of its MI-Sorb™ Dressing for chronic wounds are very promising and represent a key milestone in the validation of Rimon’s unique, value proposition – drug-like margins and device timelines, together with the versatility of polymer chemistry.

"We are delighted that such an esteemed jury has recognized the hard work, achievements and future potential of Rimon Therapeutics. The clinical validation this year of our novel therapeutic polymer (Theramer) platform technology, the near-term product licensing opportunities generated with some of the world's largest medical device companies, and now recognition as one of Canada's leading Life Science companies, demonstrates Rimon's ability to advance a robust pipeline of products to commercialization", says Michael H. May, President of Rimon Therapeutics Ltd.

See: http://www.bionorth.ca/Top10/2006_2007_Finalists.html

OLSC: Canada's Top 10 Life Science Companies Named for 2006/2007

OTTAWA, ONTARIO--(CCNMatthews - Nov. 1, 2006) - The Ottawa Life Sciences Council (OLSC) is pleased to announce this year's finalists in the Canada's Top 10 Life Science Companies Competition (Canada's Top 10). The 2006/2007 finalists will present their company to an audience of venture capitalists, potential strategic alliance partners and conference delegates at BioNorth 2006-one of North America's premier life science conferences.

Once again, this year's finalists and alumni will participate in exclusive investment forums in New York and Boston in January 2007. The companies will also have the opportunity to participate in an exclusive one-day professional development workshop to perfect their pitches for a US investor audience. Since its inception, Canada's Top 10 alumni have raised over $485 Million in venture capital financing since their selection.

"Canada's Top 10 finalists represented some of the best early-stage life science opportunities anywhere" said Ken lawless, President & CEO of the Ottawa Life Sciences Council. "The competition provides an exceptional vehicle to promote Canadian companies to the North American investment community"

Canada's Top 10 finalists are selected from a pool of entrants by an independent international jury of life science venture capitalists. Entrant companies are classified as either early stage (seeking first and second round financing) or emerging/late stage (seeking mezzanine or later stage financing) opportunities. Based on their expert knowledge of investment in the life sciences sector, the jury selects the companies that offer the best investment and partnership prospects.

"This competition is a unique snapshot of emerging life science companies in Canada," states Maha Katabi, Vice-President, Life Sciences, Ventures West and Canada's Top 10 jury member. "It showcases great technologies and entrepreneurs that are ready for prime-time investing."

2006/2007 Finalists included Rimon Therapeutics of Toronto, Ontario

Award program information, company descriptions and quotes can be found at www.bionorth.ca/Top10.

About the OLSC

The Ottawa Life Sciences Council (OLSC) is a not-for-profit, member-supported, development corporation for the life sciences sector in the Ottawa and Eastern Ontario region. Our mandate, to catalyze the growth of the local life sciences community, is achieved through: networking activities, consortia building, support for technology commercialization, identification of market opportunities, information resources, sector advocacy and sector specific marketing initiatives at all levels of opportunity (local, regional, provincial, national and global). For more information about the Ottawa Life Sciences Council visit www.olsc.ca or call (613) 828-6274 x229.

Rimon Therapeutics Ltd. is pleased to announce that company president, Dr. Michael May, will be presenting at this years' BioContact conference in Quebec City. His presentation will be held at the Salle Place d'Armes at 9:30am on Friday, October 6th. The thirty-minute presentation will be followed by a question and answer session.

BioContact is a biopharmaceutical partnership symposium in its thirteenth year. It brings together research institutions, industry, venture capitalists, and government agencies. This year it is expected that 150 presenters from over 20 countries will attend the three-day symposium, along with over 1200 participants.

Visit the site next week to view Dr. May's presentation.

Dr. Gary Sibbald is the world-renowned dermatologist who is leading Rimon’s initial clinical trial for its MI-Sorb™ dressing, validating its unique Theramer™ technology. Dr. Sibbald is a co-founder of the Canadian Association of Wound Care (CAWC) and is on the editorial or advisory board of several wound care journals. Lecturing extensively, he is also a prolific author and an educator, sponsoring regular clinics to promote the interdisciplinary approach to wound healing.

Recently, I was given the opportunity to speak with Dr. Sibbald about wound care and the MI-Sorb™ clinical trial. The interview is available to download through the link provided below.

Dr. Michael Sefton is one of the pioneers of Tissue Engineering and is a co-founder of Rimon Therapeutics.  A Professor of Chemical Engineering and former Director of the Institute of Biomaterials and Biomedical Engineering at the University of Toronto, Dr. Sefton is a leader at the University and in the wider scientific community. A few years ago he was awarded the prestigious title of University Professor by the University of Toronto and last year he was named a Fellow of the Royal Society of Canada.

Dr. Sefton sits on the editorial boards of several prominent journals and has been on the grant selection committees for NSERC, MRC (now CIHR) and the US NIH. Dr. Sefton is the author of over 140 peer reviewed journal articles and is the recipient of many awards. For a complete bio see: http://www.rimontherapeutics.com

We had an opportunity to speak with Micheal Sefton at the Rimon Therapeutics’s office in late May about his career, Rimon Therapeutics, and the Biomaterials Sector in Canada. Here is what we discussed:

Earlier this year, acting FDA Commissioner Andrew von Eschenbach unveiled the Medical Device Initiative Innovation. This proposed plan is designed to overhaul the process of examination and, perhaps more significantly, to adjust the role of the FDA.

As a medical device company, Rimon is encouraged by the awareness of the FDA that, as technology grows and the quantity of device-based treatments increases, adjustments are required within the regulating body to facilitate the movement from research to standard of practice.

Our primary product, the MI-Sorb™ dressing, is a Class I Device and is now in its first clinical trial. The prospect of assistance from the FDA to navigate through the paperwork, to improve communication, and to streamline the process is welcomed. There is the awareness that such alterations do not manifest themselves overnight. The proposed changes will be a long time in coming, with some believing that they might not come at all.

Criticism has come, not necessarily for the measures proposed, but for the likelihood of their implementation. As MD&DI has noted, as long as von Eschenbach is an "acting" director, it is unlikely that the working body of the FDA will embrace the changes and begin restructuring itself.

Implementation of the proposed changes or not, Rimon's key product will continue to benefit from the shorter timelines, and therefore, reduced developmental costs, compared to those of pharmaceutical products.