PhorMed
Utilizing gene therapy to target cancer and mutated cells
Analytics
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
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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