For many emerging companies, the ideal exit is a big-money major-corporate buyout, giving principals and investors a whopping return. Unfortunately, it’s not the most common outcome. Getting the right mix of technology, application, market demand, management, and financing is definitely the exception, not the rule. But FluoroPharma Medical, based in Boston, may be the one company that’s on the right side of the equation.
FluoroPharma is a provider of medical diagnostic imaging agents used with positron emission tomography (PET). The advantage of PET, versus other types of diagnostic imaging, is its unique ability to assess molecular metabolism, allowing doctors to see not only the body, but exactly how it’s functioning at the cellular and molecular level. It also allows major drug developers to create highly targeted pharmaceuticals, one of the hottest fields in drug development. PET is a critical and unmatched technology, but it depends entirely upon having the right diagnostic imaging agents, chemicals that can be used with PET technology to highlight and track the most subtle bodily processes.
Today, there is a huge and largely unmet demand for such biomarker agents. With the right biomarkers, doors open to all sorts of personalized drug development, making companies with the right biomarker technologies extremely valuable. In December of 2010, when Eli Lilly acquired Avid Radiopharmaceuticals, and its Alzheimer’s related imaging agent technology, they paid $800 million, giving investors a very big Christmas gift. Perhaps more significantly, however, is the fact that Lilly was just one of several bidders.
In the case of FluoroPharma, there are already three important PET imaging agent products in the portfolio, all related to the huge cardiovascular market. CardioPET, BFPET, and VasoPET can be used for identifying subtle processes that can point to heart disease and stroke, still the biggest killers on the planet, and other agents are in the FluoroPharma pipeline.
For more information, see the company website at www.FluoroPharma.com
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