FALL RIVER – Genzyme Biosurgery, a division of Cambridge-based Genzyme Corp., recently announced that it will work with Excigen Inc., a recently created biotechnology company in Baltimore, Md., to develop gene therapies for treating cardiac arrhythmias. Genzyme Biosurgery, located in Fall River, has an extensive program in biotechnology related to heart disease. It will contribute in-kind research services, in return for an equity position in Excigen. Financial terms were not disclosed, Genzyme said in a release.
Excigen’s initial focus will be on developing gene therapy treatment options for atrial fibrillation; irregular, erratic and rapid heart rhythm; and for bradyarrhythmia, a condition that results in the heart beating too slowly. Presently these conditions are treated with drugs, ablation procedures or implantable devices, although there are many patients for whom these treatments are not clinically appropriate.
“We are very pleased to be collaborating with Genzyme Biosurgery, and look forward to working with them closely to meet our goal of advancing to Phase 1 clinical trials within the next three years,” said Dr. Eduardo Marbán. “Genzyme Biosurgery’s experience in developing biotechnology products for heart disease, particularly in gene therapy, makes it an ideal partner for Excigen.”
St. Anne’s Credit Union reports record year
FALL RIVER – St. Anne’s Credit Union of Fall River reported a banner year for 2002 at its annual meeting recently, citing assets of $557 million and $220 million in real estate related loans.
St. Anne’s is a state-chartered institution headquartered in Fall River with offices in Fall River, Somerset, Swansea, Dartmouth and Fairhaven, as well as a loan production office in Seekonk. The credit union serves more than 53,000 members in Bristol, Barnstable and Plymouth counties in Massachusetts.
The 67th annual meeting was held on March 30 at White’s of Westport. Total deposits increased by 14 percent, and with the number of granted loans, nearly 1,500 credit union members were able to purchase homes, according to a credit union report.
President and CEO John R. Ledwidge reported on the success of the credit union’s sixth branch office in Fairhaven and the credit union’s new branch endeavor in Fall River’s north end. The credit union also presented scholarship awards to 12 area high school seniors, each for $1,000.
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