PHILADELPHIA--(October 5, 2011) – A new early-stage drug discovery company has taken up residence at the University City Science Center. Mitergy, LLC has joined 27 other startup companies engaged in the Science Center’s Port Business incubation program. They will occupy space in the office and lab facility at 3711 Market Street in Philadelphia.
Mitergy develops therapeutics for diseases associated with progressive cell death. Diseases related to inappropriate cell loss include stroke, progressive heart failure and neurodegenerative diseases such as Parkinson's, Alzheimer's and Amyotropic Lateral Sclerosis (ALS), or Lou Gehrig's Disease. Mitergy’s drug candidates protect cells by preventing the destruction of mitochondria, the microscopic particles that supply cells with energy. Mitergy’s novel therapeutics may also lead to a new generation of chemotherapies for certain types of cancer.
“The proximity to area research institutions was a major factor in choosing to establish offices at the Science Center,” says Paul Anziano, Mitergy President and Chief Scientific Officer and co-Founder. “Not only will it make it easier for Mitergy to form collaborations with research institutions in the area, but simply being located in a neighborhood known for innovation an entrepreneurial spirit made the Science Center a natural choice.”
About the Science Center
The University City Science Center accelerates technology commercialization, regional economic development, and the market availability of life-enhancing scientific breakthroughs by bringing together innovations, scientists, entrepreneurs, funding, laboratory facilities, and business services. Established in 1963 and headquartered in Philadelphia, PA, the Science Center was the first, and remains the largest, urban research park in the United States. Graduate organizations and current residents of the University City Science Center’s Port business incubators have created more than 15,000 jobs that remain in the Greater Philadelphia region today and contribute more than $9 billion to the regional economy annually. For more information about the Science Center, go to www.sciencecenter.org.
The Port business incubator offers start-up companies more than just physical resources. It also surrounds emerging ventures with the other ingredients required to grow and be successful. The Port offers its residents access to free programming including Lunch for Hungry Minds scientific presentations and Smart Talk’s business building advice. The Science Center’s Scientific Advisory Committee connects Port companies with a vast array of clinical and technical expertise and facilities. Current committee members include the senior research administrators (or equivalent) from academic, healthcare and research institutions, as well as from leading local companies in the life sciences and other industry sectors.
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