Pilot Therapeutics, a spin-out of Wake Forest University that once was the subject of a fierce bidding war between North and South Carolina, has relaunched with a new name – Gene Smart.
The company, founded by Floyd Chilton, a former director of molecular medicine at Wake Forest, is focused on nutrition and wellness with an emphasis on gene expression. Chilton directs the Center for Botanical Lipids.
Pilot won $10 million in tax incentives from South Carolina to move its operations from the Triad to the Charleston area in 2002. However, the company encountered financial difficulties and closed its S.C. operations in 2004.
The new Gene Smart includes three business units: therapeutics, ingredients and wellness.
Its therapeutics under development include over-the-counter products, foods and beverages as well as foods designed to prevent and treat inflammation.
"This relaunch is an important milestone that sets the stage for the future of our company," Chilton said in a statement.