PhorMed
Utilizing gene therapy to target cancer and mutated cells
Beverly Hills, CA
Biotechnology
PhorMed is a biopharmaceutical company leading the charge in the field of genomic medicine. We utilize gene therapy to target cancer and mutated cells, allowing the body to begin healing itself, and give new hope to patients suffering from diseases like AML, Hodgkin’s Lymphoma and Parkinson’s, among others.
$467,599
raised
1,017
Investors
33
Days Left
$1.00
Price per Share
$39M
Valuation
Equity
Offering Type
$250.00
Min. Investment
Bonus Rewards
Get rewarded for investing more into PhorMed
$250+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
$500+
Investment
5% Bonus Shares
Invest $500+ and receive 5% bonus shares & access to our Investor Club which allows you to vote on drug names, receive special investor updates, and attend Q&A sessions
$1,500+
Investment
10% Bonus Shares
Invest $1,500+ and receive 10% bonus shares & access to our Investor Club.
$5,000+
Investment
15% Bonus Shares
Invest $5,000+ and receive 15% bonus shares & access to our Investor Club.
$10,000+
Investment
20% Bonus Shares
Invest $10,000+ and receive 20% bonus shares, an in-person meeting with the leadership team**, and access to our Investor Club.
Reasons to Invest
Current first-line treatment options have severe side-effects and can be toxic
Exciting technology with the potential to treat multiple diseases means expanding opportunities for new markets and the potential for growth
The potential market is $8B+ per year
“Our drug has the chance to forever alter the way these diseases are treated”
Many common life-threatening diseases like cancer require dangerous treatments that have long lasting side-effects
Patients suffering from Acute Myeloid Leukemia (AML), Hodgkin’s Lymphoma (HL), and Parkinson’s Disease (PD) are all faced with the reality of either no realistic treatment options or potentially harmful and painful treatments like chemotherapy or radiation.
We believe our early-stage drug shows immense promise in the treatment of these diseases
We are in the midst of clinical trials with our proprietary drug that will potentially be able to treat patients diagnosed with AML, HL, PD, and other projected diseases.
PhorMed's lead technology, RP-323, is a gene repair therapy
Unfortunately, these deadly diseases are ubiquitous
The world market for drugs treating HL is projected to post a compound annual growth rate (CAGR) of 16% over the next four years. The same projections expect the market to reach $1.4B by 2024.
The CAGR of the AML market is expected to be around 14% over the next five years, and is expected to top $1.5B by 2024.
The PD therapeutics world market was valued at over $2B in 2016 and is expected to rise with a CAGR of 10.9% from 2017 to 2025.
Combined, the total annual market for three of our drug’s potential uses could reach close to $8B by 2025.
Our drug has been proven to be safe in early studies
Phase I Clinical Trial and safety study has been completed and has established the validity and effectiveness of our drug. We are satisfied that unlike the current treatment options, our drug’s side effects are non-threatening and short-lasting.
Next Clinical Trial is underway for AML, and protocols from our clinical site are currently under review.
Patients receive the drug via IV infusion
The drug is administered through intravenous infusion, with patients treated in 3-5 cycles. Each cycle is approximately one month in duration, with five treatments per week, followed by a two week rest period.
Treatment recipients are not required to remain in the hospital thanks to the limited side effects and unobtrusive nature of the drug.
Our financial directives are value driven creating multiple potential exit strategies for our investors
The company intends to create a number of exits, by licensing distribution rights, creating partnerships with pharmaceutical companies, and through an IPO.
Potential partnerships can be made for each indication within our pipeline creating separate and distinctive pathways to the market.
We focus on treating the disease rather than the symptoms
RP-323 utilizes gene repair therapy to target damaged or mutated cells, and repair a broad range of cell types. Most importantly the FDA has set a low threshold for us requiring only 35 patients and >20% efficacy. This allows us a greater chance of approval, less money to develop, and faster to market.
We are driven to fulfill unmet medical needs
Phase II Clinical Trials are targeted for completion in the next 2.5 years. During the same period, the goal is to complete multiple licensing deals with pharmaceutical and/or biotech companies. These major steps will precipitate expansion of our pipeline and the potential placement of multiple products in the marketplace.
We anticipate that in the next 3-4 years our company will be able to take advantage of the growing market and help fulfill unmet medical needs.
We are experienced professionals with both industry and practical knowledge
Our CEO, McCoy Moretz, M.D., has been an Officer and Founder of multiple biopharmaceutical companies, has extensive experience as a keynote speaker across the world and has multiple publications, patents, and awards to his name.
Our Chief Scientific Officer and Inventor Professor Richard L. Chang has authored 122 peer-reviewed journal publications, filed multiple patents in the field of the treatment of cancer, infectious disease, hematology, and neurological disorder. He has over 50 years of research experience and was a Director of Research at Rutgers University.
Our other co-founders and advisory team are all similarly well-experienced in biopharmaceutical entrepreneurship in addition to extensive academic knowledge.
We believe our drug can make the lives of patients astronomically better
We have an opportunity to forever change the options facing patients suffering from these awful diseases. With treatment from our drug we believe these patients will be able to take back their lives, and won’t be saddled with long-lasting side effects, or be required to live in the hospital for weeks on end.
The company anticipates a clear path toward an open and ever growing marketplace. Through partnerships and a number of other possible exit strategies, we are confident in our potential and our ability to fulfill the markets need for new and safe treatment options.
Offering Summary
Company | : | Phormed Inc |
Corporate Address | : | 9735 Wilshire Blvd., Suite 216, Beverly Hills, CA 90212 |
Offering Minimum | : | $10,000.00 |
Offering Maximum | : | $107,000.00 |
Minimum Investment Amount(per investor) | : | $250.00 |
Terms
Offering Type | : | Equity |
Security Name | : | Common Stock |
Minimum Number of Shares Offered | : | 10,000 |
Maximum Number of Shares Offered | : | 107,000 |
Price per Share | : | $1.00 |
Pre-Money Valuation | : | $39,000,000.00 |
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.
Time-Based Bonuses*:
- Invest within the 1st week and receive 20% bonus shares.
- Invest within the 2nd week and receive 15% bonus shares.
- Invest within the 3rd week and receive 10% bonus shares.
- Invest within the 4th week and receive 5% bonus shares.
- New Year's Bonus - Invest between Jan 1st, 2020 and Jan 3rd, 2020 and receive 15% bonus shares
Volume Based Bonuses and Perks*:
- Invest >$500, you will receive 5% bonus shares & access to our Investor Club which allows you to vote on drug names, receive special investor updates, and attend Q&A sessions
- If you invest >$1,500, you will receive 10% bonus shares & access to our Investor Club.
- If you invest >$5,000, you will receive 15% bonus shares & access to our Investor Club.
- If you invest >$10,000, you will receive 20% bonus shares, an in-person meeting with the leadership team**, and access to our Investor Club.
*Investors cannot qualify for both bonuses in any single investment. If an investor qualifies for two bonuses the higher of the two bonuses will be applied. All perks occur after the offering is completed.
**Travel Not Included
The 10% Bonus for StartEngine Shareholders
Phormed Inc will offer 10% additional bonus shares for all investments that are committed by StartEngine Crowdfunding Inc. shareholders who invested over $1,000 or made at least two investments in StartEngine's own offerings.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $1.00 / share, you will receive 110 Common Stock shares, meaning you'll own 110 shares for $100. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
Irregular Use of Proceeds
The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments.
Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$350.00
USD
$0.00
USD
Cash And Cash Equivalents
$350.00
USD
$0.00
USD
Accounts Receivable
$0.00
USD
$0.00
USD
Short Term Debt
$34,083.00
USD
$0.00
USD
Long Term Debt
$0.00
USD
$0.00
USD
Revenues And Sales
$0.00
USD
$0.00
USD
Costs Of Goods Sold
$0.00
USD
$0.00
USD
Taxes Paid
$0.00
USD
$0.00
USD
Net Income
-$33,734.00
USD
$0.00
USD
Risks
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
Updates
Notice of Funds Disbursement
23 days ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, PhorMed has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in PhorMed be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Notice of Material Change in Offering
about 1 month ago[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the PhorMed offering. Here's an excerpt describing the specifics of the change:
Extended length of campaign.
When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.
Notice of Funds Disbursement
about 2 months ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, PhorMed has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in PhorMed be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Notice of Funds Disbursement
2 months ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, PhorMed has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in PhorMed be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
PhorMed How It Works Video:
2 months agoOur drug, RP-323, is a gene repair therapy that has the ability to repair damaged or mutated cells.
Please watch our video to learn more.
Notice of Funds Disbursement
3 months ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, PhorMed has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in PhorMed be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Notice of Material Change in Offering
3 months ago[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the PhorMed offering. Here's an excerpt describing the specifics of the change:
Extended length of campaign.
When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.
Notice of Filing Status:
3 months agoOur filing status is now current with the Securities and Exchange Commission. On May 4, 2020 we filed our C-AR, annual report, fulfilling our reporting obligations for securities sold pursuant to Regulation CF.
Notice to our investors:
3 months agoWe will be unable to meet our April 29, 2020, annual report filing requirements for securities sold pursuant to Regulation CF as a result of the officer in charge had contracted COVID-19 and was unavailable to meet the deadline.. As such, we intend to rely on the temporary relief being provided by the Securities and Exchange Commission. We will continue to use our best efforts to comply with our ongoing reporting obligations.
Notice of Funds Disbursement
3 months ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, PhorMed has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in PhorMed be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
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