There are more and more biomedicine companies being founded every year all across the world. Not all of them are profitable or even make it through the first few years before having to close down. On the other hand, there are a few publicly listed biomedicine companies that are consistently performing well, launching several breakthrough products that are used to treat abnormal or “incurable” conditions. According to Saar Pilosof, these exceptional companies are Novartis, OvaScience, and Corvas.
Novartis is headquartered in Switzerland and was founded in 1996. Among the many accomplishments of this company is the development of the drug Afinitor, which is used to treat benign tumors resulting from a rare genetic disorder. In addition, the company has developed drugs used to treat Fragile X Syndrome, a disorder that results in mental retardation and in some cases, autism.
OvaScince is another publicly listed biomedicine company that was founded in the United States in 2011. OvaSciencce is involved in finding treatments for infertility and uses patented technology licensed from Massachusetts General Hospital. The stock price for OvaScience stocks is currently just at a little over $1, at $1.44 per share. However, the 1-year estimated price target is several times higher, at $8 per share.
Corvas is headquartered in the United States and is involved in the creation and development of treatments for cardiovascular diseases, cancer, and others. The company was acquired by Dendreon Corporation in the year 2005. One of the company’s leading cancer treatments is the drug, Provenge. This drug is especially useful in the treatment of early stage prostate cancer.