PHARMAGENESIS, INC. ANNOUNCES PALO ALTO HEADQUARTERS

PALO ALTO, Calif. – Dec, 2000 – Pharmagenesis, Inc., an Orchid group venture company, announces its Palo Alto, Calif. headquarters.  The laboratories and offices act as central operations for the company, the heart of Orchid group’s research and development activities.

Pharmagenesis mission is to develop new pharmaceuticals based on the bioactive substances found in Traditional Chinese Medicine (TCM), aimed at both the Eastern and Western markets. 

The company believes that by focusing research on TCM, there is a significant likelihood of finding new effective therapeutic products with excellent safety.  Pharmagenesis will screen Chinese pharmacopoeia, select drug candidates for further research and develop selected candidates for Western markets.  In addition, Pharmagenesis will develop importation of selected Western drugs in China through the company’s Beijing operations.

“Silicon Valley gives the company access to top research and pharmaceutical scientists as well as close proximity to many pharmaceutical corporations,” Nicolas Druz, chairman of the board and CEO, Pharmagenesis, said.  “Palo Alto also acts as an easy port of debarkation for our Asia operations.”

Pharmagenesis has selected the organ systems responsible for immune responses and generation of blood cells as its initial research focus.

The company’s offices and laboratory facilities occupy 10,000 square feet.  Currently there are more than 30 scientists and administrative staff in the Palo Alto location.  Of that total, ten are Ph.D.’s and/or M.D.’s.

About Pharmagenesis

Palo Alto-based Pharmagenesis, Inc. develops novel pharmaceutical and nutra-ceuticals derived from herbal remedies employed in traditional Chinese medicine, a tradition that spans over 4,000 years of use.  Established in 1991, the privately held company is focused on treatments for cancer therapy-related bone-marrow suppression and for the management of transplant rejection.  Through its operations in Beijing, Suzhou and Taipei, these and other products are being commercialized in the high-growth markets of China and Taiwan.

 

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