Milwaukee, WI (PRWEB) March 25, 2010
PhysioGenix (http://www.physiogenix.com) was announced a winner of Company to Watch for 2010. The award is made by the Wisconsin Entrepreneur Network (WEN) with support from the Wisconsin Department of Commerce and the Division of Entrepreneurship and Economic Development at the University of Wisconsin-Extension in association with the Edward Lowe Foundation to celebrate second-stage entrepreneurial companies. Chief Executive Officer Dr. Brian Curry stated, “We are deeply honored to be named as a company to watch in 2010.” Over the past two years the company has under went a major business and scientific reorganization, so the PhysioGenix team views the award as external validation of the progress that has been made. With the new PhysioGenix vision to improve the quality of life through biopharmaceutical solutions by providing preventative, curative and palliative interventions for chronic diseases; the company is excited by the future.
Like most companies to reach the point of becoming worthy of such an award, PhysioGenix first needed to overcome two major obstacles.
The pharmaceutical industry is very regionally concentrated on the West and East coast. Executive Vice President Greg Meier explains, “geography is becoming less of an issue in business because of the proliferation and leveraging of technology.” 80% of PhysioGenix’s clients are from the West coast and in the last two years the international business they have received has grown significantly. Dr. Curry says that, “At no point has distance been a hindrance on our business, in fact, every company that we do business with chooses to return for additional projects.”
“One of the strengths of being located in Milwaukee, Wisconsin compared to other areas in the nation is the access to a number of well trained scientists and the close proximity of numerous universities, specifically the Medical College of Wisconsin, Marquette University, and the University of Wisconsin-Milwaukee,” said Dr. Curry, “We have some of the best scientists and technical staff around.”
Beyond the hurdles of reorganization, PhysioGenix had to deal with the poor economy, which has had both a positive and negative effect on their industry. The weaker economy over the past year has forced pharmaceutical companies to reduce staff and increase outsourcing. However, as the market has grown, so has the competition. Fortunately, PhysioGenix has thrived in this new environment, leading to record sales in 2009, the highest the company has seen in its 10 years in business.
With the tremendous foresight in the past two years and the ambitious plans for the next year it is no wonder why PhysioGenix won an award for being ‘worth watching.’ PhysioGenix’s goal is to never rest on its laurels but instead continually strive to innovate, contain costs, and collaborate with industry leaders. To achieve this goal, Director of Operations Darin Evans says that PhysioGenix will be using new research models and expanding into medical device testing in 2010. Dr. Curry is excited by the prospect of 2010, “With our sales and marketing campaigns beginning to ramp up and the improving economy, 2010 looks to be even more successful than our record year last year.”
A world-leader in complex chronic disease research services and solutions. Our goal is to be the world-leader in research services for organizations conducting studies involving therapeutics and medical devices for complex chronic diseases. Through our in-house capabilities and partnerships with outside experts, we seek to deliver the most comprehensive suite of solutions in our fields of expertise.
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