PhorMed

Growth Stage

Utilizing gene therapy to target cancer and mutated cells

Analytics

Raised to Date: Raised: $243,864

Aggregate Commitments $

Platform

StartEngine

Start Date

05/24/2022

Close Date

08/17/2022

Min. Goal

$10,000

Max. Goal

$2,150,494

Min. Investment

$500

Security Type

Equity - Common

Funding Type

RegCF

Series

Seed

Price Per Share

$1.00

Pre-Money Valuation

$51,647,023

Rolling Commitments $

Status
Funded
Reporting Date

08/31/2022

Days Remaining
Funded
% of Min. Goal

2,439%

% of Max. Goal

11%

Likelihood of Max
Funded
Avg. Daily Raise

$2,869

# of Investors

210

Momentum
Funded
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Location

Beverly Hills, California

Industry

Healthcare & Pharmaceuticals

Tech Sector

Biotech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

High

Business Type

Growth

PhorMed, with a valuation of $51.6 million, is raising funds on StartEngine. It is a biopharmaceutical company that is changing the face of genomic medicine. PhorMed uses gene therapy to target and treat cancer cells and mutated cells, and is developing a treatment for patients suffering from Hodgkin’s Lymphoma, Parkinson’s Disease, and Acute Myeloid Leukemia. PhorMed uses a leading technology, RP-323, as its gene repair therapy. The drug has completed Phase 1 of the clinical study and has generated positive outcomes. Ben Chang founded PhorMed in May 2019. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $2,150,494. The campaign proceeds will be used for growth and expansion.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-573,854

$-948,160

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$105,694

$109,844

Accounts Receivable

$0

$0

Total Assets

$183,724

$340,922

Short-Term Debt

$227,264

$363,294

Long-Term Debt

$0

$0

Total Liabilities

$227,264

$363,294

Financials as of: 05/24/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
PhorMed 08/17/2022 StartEngine $51,647,023 $243,864 Equity - Common Funded RegCF
PhorMed 03/25/2022 StartEngine $39,000,000 $2,450,528 Equity - Common Funded RegCF
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PhorMed on StartEngine 2022
$
Platform: StartEngine
Security Type: Equity - Common
Valuation: $51,647,023
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