RESEARCH TRIANGLE PARK, N.C. – Norak Biosciences announced it has changed its corporate identity to Xsira Pharmaceuticals, effective immediately.

The name change is one element of a plan for Norak to transition from a platform technology company to a product development company.

“Norak was founded in 1999 with a two pronged strategy, to scale up its Transfluor technology for licensing to third parties as a revenue generator, while simultaneously using Transfluor to discover its own drug pipeline,” said Dr. Roger Blevins, President and CEO of Xsira.

“Both Transfluor and our drug pipeline have evolved to the point where separation of these activities is now in the best interest of the Company. As such, we are seeking to divest of our Transfluor business, and intend to utilize the proceeds to advance our drug pipeline, as well as to in-license later stage products with a strategic fit.”

Norak’s investors include Intersouth Partners, The Aurora Funds, Harbert Management, Noro-Moseley Partners and Mitsui Venture Partners.

www.xsira.com/

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