FOUNDER SPOTLIGHT
RAYMOND SCHINAZI, PHD, DSC
Founder and Former Chairman, Pharmasset, Inc. /
Professor of Pediatrics and Chemistry, Emory University, Emory Center for AIDS Research
“The development of Pharmasset is an excellent example of translational research, and of research that begins in a university and results in the development of promising therapeutics and a successful company.”
FAST FACTS
FOUNDER(S):
Dr. Dennis Liotta
Dr. Raymond Schinazi
INNOVATION(S):
Biotechnology/Pharmaceuticals
EMPLOYEES:
68
HEADQUARTERS:
Princeton, NJ
FOUNDED:
1998
REVENUE:
$1.9 million FY08
TSC MEMBER INSTITUTION(S):
Emory University
FUNDING AGENCY(S):
National Institutes of Health
STATUS:
Public
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PHARMASSET, INC.
WHERE INNOVATION IS VIRAL
ABOUT THE COMPANY:
Pharmasset, Inc. is a clinical-stage pharmaceutical company that develops and commercializes novel antiviral therapeutic drugs. Pharmasset was founded by Dr. Raymond Schinazi and Dr. Dennis Liotta, faculty members at Emory University. Emory has multiple license agreements with Pharmasset.
Pharmasset’s current focus is on the development of oral therapeutics for the treatment of hepatitis C virus (HCV). HCV is a leading cause of chronic liver disease and liver transplants. The World Health Organization estimates that nearly 180 million people worldwide, or approximately 3% of the world’s population, are infected with HCV.
As a result of the limited benefits and serious side effects of existing therapies, the leadership at Pharmasset believes there are significant opportunities for new antiviral therapies to fight HCV. Pharmasset currently has three products that are in various phases of clinical trials. The company has established strategic partnerships with Roche, one of the world’s leading research-focused healthcare groups in the field of pharmaceuticals and diagnostics, and Bukwang Pharmaceutical Company, a publicly-traded Korean pharmaceutical, oral hygiene, and cosmetics company.
UNIVERSITY-BASED RESEARCH CONNECTION:
Pharmasset was founded by Dr. Raymond Schinazi and Dr. Dennis Liotta, world-renowned scientists and drug discovery experts at Emory University. Emory has multiple license agreements with Pharmasset.
ROLE OF FEDERAL RESEARCH FUNDING:
The technology development was supported by grants from the National Institutes of Health.
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PHARMASSET, INC.