MOUNT PLEASANT,South Carolina-based GenPhar, a biopharmaceutical company that develops, manufactures and markets products that include vaccine platforms, an HIV drug resistance test and molecular therapy for solid tumors, has closed on an $8 million round of funding from 60 institutional investors.
The company did not disclose how it intends to use the funding, which reportedly was provided by Wall Street investors. The privately held company is not required to release details of its finances.
Dr. John Dong and Dr. Danher Wang are the company founders. Dong is the chief scientific officer and Wang is the director of research. Both have 20 years experience in research and development.
GenPhar has built relationships with the National Institute of Health and the United States Army Medical Research Institute of Infectious Diseases and plans to continue pre-clinical trials of new vaccines in guinea pigs and monkeys. The vaccine platform works by transporting fragments of an infectious disease into the body, thereby initiating a response from the immune system.
GenPhar executives recently were escorted to Washington, D.C. by former Bank of America Corp. chief Hugh McColl where they were introduced to legislators and other government officials.
McColl’s investment firm, Charlotte-based McColl Partners, jump started GenPhar with a $2.5 million infusion in 1999. McColl told American Banker magazine last October that the company was turning a profit.
For more information, visit www.genphar