RegeneMed, Inc. Attracting Investment from Up to Four Angel Groups

The pharmaceutical industry spends as much as $3 billion per year on testing and procedures to determine drug safety and efficacy. Since clinical drug tests involving humans usually cannot (for good and understandable reasons) occur until near the end of the development process, a considerable portion of that $3 billion goes to drug candidates that will eventually fail FDA testing because they turn out to be toxic or ineffective in human tissue tests. "If drug companies had a way to determine earlier which developmental drugs were going to fail, says Dawn Applegate, Ph.D., President and CEO of RegeneMed, Inc., La Jolla CA, "they could avoid spending millions of dollars and multiple person-years in the testing and development of compounds that are destined to dead-end. At RegeneMed we are developing engineered human tissue platforms to address this critical need in the life science and drug discovery world. " Applegate and RegeneMed’s co-founder and Chief Science Officer, Dr. Brian Naughton, inventor of the company’s core technology, have between them more than forty years of deep industry and scientific expertise. Dr. Naughton was the co-founder of Advanced Tissue Sciences, Inc. (ATS) a company that went into bankruptcy after being under-capitalized when the dot.com bubble burst. Upon the ATS bankruptcy, the company’s patents and products were split along partner lines. RegeneMed owns or licenses 35 broad and revolutionary patents in the U.S. and more than 140 worldwide which cover the non-implant use for all tissues (e.g. drug testing, biosensors, diagnostics, and medical devices) and implant use for all but skin, cartilage and cardiovascular products. Within their patents RegeneMed has proven technologies that have already generated three FDA-approved products, which were developed from the same intellectual property but are not currently owned by RegeneMed. "We expect to release our first product to market in less than two years," Applegate says. "We project breakeven a year after that, and forecast $70 million in revenue in year five." RegeneMed and its partner companies have received $8 million in NIH Small Business Innovation Research Grants (SBIR) from the National Institutes of Health (NIH)."

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Gillian Parrillo
The Sacramento Executive