PhorMed

PhorMed

Growth Stage

Unlocking Biotech Potential with Cellular Restoration

Unlocking Biotech Potential with Cellular Restoration

Overview

Raised to Date: Raised: $0

Total Commitments ($USD)

Platform

Wefunder

Start Date

10/26/2023

Close Date

07/30/2024

Min. Goal
$10,000
Max. Goal
$5,000,000
Min. Investment

$500

Security Type

Equity - Common

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.00

Pre-Money Valuation

$52,523,767

Rolling Commitments ($USD)

Status

Active

Reporting Date

05/17/2024

Days Remaining

73

% of Min. Goal

0%

% of Max. Goal

0%

Likelihood of Max
unlikely
Avg. Daily Raise

$0

Momentum
cold.svg
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Year Founded

2019

Industry

Healthcare & Pharmaceuticals

Tech Sector

Biotech

Distribution Model

B2B2C

Margin

Medium

Capital Intensity

High

Location

Beverly Hills, California

Business Type

Growth

PhorMed, with a valuation of $52.5 million, is raising funds on Wefunder. 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 with positive outcomes and is in Phase 2 now. Ben Chang founded PhorMed in May 2019. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $5 million. The campaign proceeds will be used for marketing, operations, research and development, general overhead expenses, and company employment.

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-750,289

$-1,477,413

Summary Balance Sheet

FY 2023 FY 2022

Cash

$303

$171,333

Accounts Receivable

$0

$0

Total Assets

$646,384

$746,059

Short-Term Debt

$1,392,000

$714,494

Long-Term Debt

$8,493

$0

Total Liabilities

$1,400,493

$714,494

Financials as of: 10/26/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
PhorMed 07/29/2024 Wefunder $52,523,767 $0 Equity - Common Active RegCF
PhorMed 08/16/2022 StartEngine $51,647,023 $243,864 Equity - Common Funded RegCF
PhorMed 03/24/2022 StartEngine $39,000,000 $2,450,528 Equity - Common Funded RegCF
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Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Valuation History

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Employee History

Funding data not publicly available

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PhorMed on Wefunder 2023
Platform: Wefunder
Security Type: Equity - Common
Valuation: $52,523,767
Price per Share: $1.00

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