On August 14, 2022, the company received a generous investment of $700,000 from one investor through a private placement. He purchased shares at $1.00 and received 20% bonus shares, 700,000 shares and 140,000 shares, respectively, totaling 840,000 shares.
On August 3, 2022, PhorMed published a press release regarding our on-going Acute Respiratory Distress Syndrome study.
You can read the press release at https://www.prnewswire.com/news-releases/phormed-announces-ards-study-results-301599279.html?tc=eml_cleartime
PhorMed Inc, a Nevada Corporation (“PhorMed” or the “Company”), is a privately held clinical stage biopharmaceutical company. The Company’s study drug RP-323 is in an on-going acute respiratory distress syndrome (ARDS) study. ARDS is a lung disorder where fluid collects in the air sacs of the lungs, depriving organs of oxygen. These studies have generated positive results showing RP-323 significantly reduces the influx of inflammatory cells into the lungs thereby limiting damage to the lungs.
PhorMed announces results from our on-going preclinical studies of Acute Respiratory Distress Syndrome (ARDS). We have determined our drug RP-323 has the ability to block or limit inflammation associated with ARDS taking effect within 24 hours of administration. More detailed information will follow.
ARDS can develop from numerous respiratory conditions including COVID-19 and there are currently no FDA approved targeted therapies for active ARDS. Patients have the potential to rapidly develop a variety of lung inflammatory conditions including general bronchial damage, fibrosis, vascular thrombosis, double pneumonia, and in severe cases, ARDS can lead to death.
On May 19, 2022, PhorMed engaged StartEngine to run its 2nd Equity Crowd Funding campaign with the goal of raising up to $5 million.
PhorMed has up to one year to raise the $5 million dollars. This raise will be under the guidelines of the Securities and Exchange Commission’s Regulation CF.
On April 1, 2021, Sean O’Connell Ph.D. will step up from his seat on the PhorMed Scientific and Medical Advisory Board to serve as Chief Medical Officer (CMO). Mr. O’Connell received his Ph.D. in Immunology and Molecular Biology from Rutgers University. As a post-doctoral fellow at Rutgers University School of Pharmacy, he worked with Prof. Richard Chang, conducting a variety of studies on the action of TPA (RP-323) on promyeloid bone marrow cells.
A seasoned healthcare professional with over 65 peer-reviewed publications, Mr. O’Connell has steered numerous venture capital, pharmaceutical, biotechnology, medical device and tissue processing companies through pre-clinical and clinical development, commercial opportunity assessment, all the way through product and marketing development. Mr. O’Connell met Dr. Moritz as part of a team of surgeons working at Chang’an Hospital in Xi’an, China. Together they developed an autologous stem cell therapy to treat a variety of deleterious skin conditions.
PhorMed will be entering into a collaboration agreement with Absorption Systems, a laboratory that will be conducting pre-clinical research in Acute Respiratory Distress Syndrome (ARDS), a lung disorder brought on by COVID-19 and pneumonia and more. The findings will be an integral component in the company’s decision to pursue a treatment for COVID-19 related issues.
“We are very fortunate to solidify this partnership with a staff that has such extensive knowledgeable in the pre-clinical arena and a facility that is so well equipped, fulfilling many of our needs” said Ben Chang, Chairman of the Board.
About Absorption Systems
Absorption Systems, located in Exton, PA and San Diego, CA, has been providing preclinical services to the science and medical community since 1996. The company has been issued a patent for its proprietary technology IDAS™, a first-in-class test system for fundamental drug properties. This technology enables testing of drug absorption and formulation performance in a single step.
On SEPTEMBER 24, 2020, PhorMed entered into an agreement with Atlanta-based academic research leader Emory University for assistance in developing the Company’s proprietary drug for Parkinson’s disease. “Emory’s experts, with their extensive knowledge in Parkinson’s disease, will be a great addition to the PhorMed team and we look forward to a long and successful collaboration” said Dr. McCoy Moretz, the Chief Executive Officer of the company.
About Emory University:
LAST UPDATED: JANUARY 29, 2020
Founded in 1836, Emory University is a national center for teaching, research, and service, awarding more than 4,921 undergraduate and graduate degrees annually. It is recognized by U.S. News & World Report as one of the top 25 universities in the US (ranked 21st in the 2019 report). In 1966 the University’s Board of Trustees integrated all of Emory’s health components into the Robert W. Woodruff Health Sciences Center. The Woodruff Health Sciences Center joins those components of Emory University concerned with patient care, education of health professionals, research affecting health and illness, and policies for prevention and treatment of disease. Its components include schools of medicine, nursing, and public health; Yerkes National Primate Research Center; Winship Cancer Institute; Emory Global Health Institute, and Emory Healthcare, the most comprehensive health system in Georgia.
On March 24, 2020, PhorMed acquired the Anti-Virus and COVID-19 treatment patent rights from Prof. Richard L. Chang. PhorMed plans to research and develop a treatment for COVID-19 using its platform technology, RP-323.
On January 1, 2020, welcomes Mr. Stuart Greene to PhorMed. He brings fresh ideas and new vision while also bringing many years of professional experience to our team. Mr. Greene will be the department head with the title of Marketing and Business Development Director.
On November 26, 2019, PhorMed signs with Digital Niche Agency (DNA) for its marketing needs. DNA will be handling all media buying and ad placements. They were chosen for their experience having been actively supporting industry needs from the onset of Equity Crowd Funding.
On October 31, 2019, PhorMed engaged StartEngine to run its Equity Crowd Funding campaign with the goal of raising up to $1.07 million.
On September 17, 2019, inventor, Prof. Richard L. Chang, successfully recruited Professor Harold H. Lee to PhorMed’s Scientific Advisory Board. Prof. Lee will advise on the company’s medical writing needs.
PhorMed is pleased to add three members to its advisory board and is honored to announce Professor Xi Zheng, Professor Renping Zhou, and Sean O’Connell, Ph.D.
On August 1, 2019, PhorMed entered into multiple contracts to acquire five of Professor Richard L. Chang’s patent inventions.