PhorMed
Utilizing Gene Repair to Treat Diseases
Century City, CA
Biotechnology
PhorMed is a biopharmaceutical company leading the charge in the field of genomic medicine. We are working to utilize gene therapy to treat diseases, allowing the body to begin healing itself, and give new hope to patients suffering from diseases like AML, Hodgkin’s Lymphoma, Parkinson’s disease, and viruses.
$1,455,302
raised
2,710
Investors
$39M
Valuation
$1.00
Price per Share
$250.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$5M
Offering Max
Reg CF
Offering
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; our technology targets the disease not just the symptoms
Exciting technology with the potential to treat multiple diseases means expanding opportunities for new markets and the potential for growth
The combined potential market is $8B+ per year
Many common life-threatening diseases require dangerous treatments that have long-lasting side-effects or few options
Patients suffering from Acute Myeloid Leukemia (AML), Hodgkin’s Lymphoma (HL), Parkinson’s disease (PD), and COVID-19 are faced with either the reality of no realistic treatment options or for some diseases like cancer, potentially harmful and painful treatments with long-lasting side-effects.
We believe our early-stage drug shows unparalleled promise in the treatment of 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, COVID-19 and other projected diseases. Our technology, RP-323 works to “repair” the damaged cellular processes at the molecular level.
Unfortunately, these deadly diseases are wide-spread
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.
The COVID-19 market is still to be determined.
Our drug has been proven to be safe in early studies
The Safety Study has been completed establishing the validity and effectiveness of our drug. We are allocating Research & Development funds and are actively proceeding with next steps and clinical trials for all indications.
Our goal is to complete Phase II in all of our clinical trials.
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. Our technology focuses on the root cause, aiming to fix the cellular damage on a molecular level.
The drug will be administered through intravenous infusion (I.V drip), as an out-patient treatment, unless otherwise suggested by the physician.
Our financial directives are value-driven creating multiple potential exit strategies for our investors
PhorMed will be open to a variety of exit strategies including but not limited to a go-public transaction, partnering with a Pharmaceutical or Biotech company through a distribution deal, or through a merger or acquisition.
All options will be considered based on the best outcome for our investors and the company, and the timing of these potential options is yet to be determined.
Our treatments are non-toxic and have very few side effects
Current treatment options for some diseases have long-lasting and potentially devastating side effects because those treatments can damage or kill healthy cells.
Treatment recipients are not required to remain in the hospital thanks to the limited side effects and unobtrusive nature of the drug. We believe our treatment will be a safer, non-toxic alternative for a variety of applications including cancer, viruses and neurological disorders.
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. We believe these major steps would 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 believe our drug can drastically improve the quality of life for our patients
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 potential partnerships and a number of other possible exit strategies, we are confident in our ability to fulfill the market's need for new and safe treatment options.
THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD-LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
Offering Summary
Company | : | Phormed Inc |
Corporate Address | : | 1999 Avenue Of The Stars, Suite 1100, Century City, CA 90067 |
Offering Minimum | : | $10,000.00 |
Offering Maximum | : | $5,000,000.00 |
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 | : | 5,000,000 |
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
$340,922.00
USD
$350.00
USD
Cash And Cash Equivalents
$109,844.00
USD
$350.00
USD
Accounts Receivable
$0.00
USD
$0.00
USD
Short Term Debt
$363,294.00
USD
$34,083.00
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
-$948,160.00
USD
-$72,700.00
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
about 1 month 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
OFFERING MAX INCREASED TO $5 MILLION
about 1 month ago
PhorMed
OFFERING MAX INCREASED TO $5 MILLION
PhorMed is excited to announce that after working through the SEC requirements we are now successfully back on track with our crowdfunding efforts. We have increased our raise to $5 Million! We would like to thank all our existing investors and all those who continued to invest on the waitlist.
To all our Waitlist investors, please make sure you respond to StartEngine emails to confirm your purchase of shares, in order to ensure that you secure your investment.
Thank you for your support,
Stuart Greene
VP of Marketing and Business Development
MCCOY MORETZ, M.D.
about 1 month ago
PhorMed
MCCOY MORETZ, M.D.
It is with great sadness that we announce the passing of “Dr. Mac,” McCoy Moritz, M.D., who died unexpectedly after a brief illness. The entire PhorMed family mourns his loss and extends our deepest sympathies to his family. Dr. Moritz was a brilliant and compassionate physician and medical researcher who brought great dedication to his stewardship of PhorMed as its Chief Executive Officer (CEO) and Chief Medical Officer (CMO).
Ben Chang, President, Chief Financial Officer (CFO), Chairman and Co-Founder, will step in as interim CEO and continues to oversee the day-to-day management of the company. A graduate of East Carolina University with a degree in Economics and International Finance, Ben has over 26 years of pharmaceutical and executive experience. He is also co-inventor of the PhorMed Anti-Virus/COVID-19 patent.
Dr. Sean O’Connell will step up from his seat on the PhorMed Scientific and Medical Advisory Board to serve as Chief Medical Officer (CMO).
Dr. 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 closely with Dr. Richard Chang, conducting a variety of studies on the action of TPA on promyeloid bone marrow cells.
A seasoned healthcare professional with over 65 peer-reviewed publications, Dr. 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. Dr. 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.
“Dr. Mac contributed immensely to the establishment and growth of PhorMed,” said Ben Chang. “His knowledge, drive, and friendship will be profoundly missed. On behalf of the entire PhorMed family, I would like to reiterate our commitment to seeing his visions realized.”
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:
PhorMed provided audited financials and increased their maximum funding goal.
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 Material Change in Offering
about 2 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:
PhorMed updated the Directors and Officers, provided updated financials, and extended the duration of their 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
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 Material Change in Offering
5 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:
Phormed is extending its 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
6 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
6 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
7 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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