TransTech Pharma, a drug development firm based in High Point, received the 2007 North Carolina Biotechnology Economic Development Award on Monday.
The award was presented at the Biotechnology Industry Organization conference in Boston.
“TransTech Pharma and its related company, PharmaCore, bring significant economic and societal value to the Piedmont Triad region and to North Carolina through the creation of high-paying jobs, the attraction of research funding, and the development of potential new drugs to treat chronic diseases,” said Jim Fain, secretary of the N.C. Department of Commerce, in a statement. “A strong leadership, financial, and research team, led by Founder, Chairman, President and CEO Adnan M. M. Mjalli, has brought TransTech Pharma to significant accomplishment. The company’s sustained entrepreneurial success serves as a model for ventures in North Carolina and beyond.”
TransTech employs 80 people. The company is focused on drugs for use in cardiovascular, oncology, central nervous system, diabetes and obesity treatment. The firm has developed proprietary drug development technology called TTP Translational Technology that includes genomic and other biological data.
Drug development partners include Pfizer, Novo Nordisk, Merck & Co., Cephalon and Siga Technologies.