Panaceutics seeks to transform personalized medicine and improve patient adherence
with the right drug, right dose & right combination
RESEARCH TRIANGLE PARK, NC– FEBRUARY 27, 2017 – Panaceutics, Inc., a personalized medicine and clinical nutrition company, today announced executives will present at the Center for Entrepreneurial Development (CED) Life Science Conference 2017 being held at the Raleigh Convention Center, February 28 – March 1, 2017. The presentation, set for Tuesday, February 28th at 2:50 pm (EST), will highlight the company’s latest developments, including its new production facilities, new investors, its acquisition of Triangle Compounding Pharmacy, nutritional market trial results and plans to undertake a Series B financing in 2017.
To date, the company has raised $5.7 million, in a Series A financing round. In December, Alexandria Venture Investments, the strategic venture capital arm of Alexandria Real Estate Equities, Inc., invested in the company. Their investment, combined with earlier funding from the North Carolina Biotechnology Center, Sanitarium Health & Well Being (Aus), MDO Ventures, The Launch Place Fund, Worth Harris and others, allowed the company to expand its pilot production operations in a new facility at the Alexandria Center, a first-of-its-kind campus located at 6 Davis Drive in the heart of Research Triangle Park.
According to Chief Executive Officer Edison Hudson, the new facility will house its headquarters, R&D, engineering and 2nd generation pilot production lines. When fully equipped next year, this facility could support up to 50,000 people per month with personalized therapies. This purpose-built cGMP facility will enable Panaceutics to expand to serve several B-2-B partners it has worked with over the past three years. Targeting long term adherence, Panaceutics robotic automation economically produces a 30-day supply in 3-4 minutes, in a convenient, easy to swallow delivery form combining individualized formulas of clinical nutrition of pharmacy-grade dietary supplements. The company uses a cloud based software to aid medical professionals to choose the right ingredients and dosage for an individual.
The company’s R&D goal is to expand its product line to include “pill free” suspensions of existing pharmaceuticals in its convenient, easy to swallow delivery form designed to improve long-term patient adherence. The company, in conjunction with several medical teams, has identified applications spanning cardiovascular disease, cancer, diabetes and other chronic diseases requiring complex combinatorial drug therapies that will benefit from its automated personalization of commonly prescribed pharmaceuticals delivered in its easy to swallow tasty format.
Hudson noted, “We are very grateful for the support of our investors for providing the funding to expand our ability to serve the significant B-2-B partners we have engaged. We feel this new base in the heart of Research Triangle will allow the company to achieve rapid revenue growth, and expand our product line. Our modular automation design and web based formulation will allow us to grow in 10,000 person per month increments as we can attract funding and more partners for personalization, a new and rapidly growing market.”
Web: www.panaceabiomatx.com
For more information, or schedule a one-on-one meeting, please contact:
Edison Hudson
Chief Executive Officer
Panacea BioMatx, Inc.
Tel. 919-797-9623
[email protected]
Panaceutics Inc. and Triangle Compounding Pharmacy Inc. are wholly owned subsidiaries of Panacea BioMatx, Inc, a Delaware corporation.
Please plan to meet with us at:
CED Life Sciences 2017 Conference
Location: Raleigh Convention Center at 500 S. Salisbury St, Raleigh, NC 27601
Directions and Parking: http://www.raleighconvention.com/directions