On the Way to Writing Off Telomolecular
Well, this is disappointing, to say the least:
According to Senior Vice President, David Dollar, "This is a revolutionary face cream - a product so different and innovative, we believe it could generate enormous consumer interest."
So much for that company, you know, the one that was promising really interesting things in telomere and mitochondrial science not so long ago:
Telomolecular Corporation [recently] acquired a new technology from Stanford Leland Jr. University. The technology, called Mitofusin 1, allows for the repair of damaged mitochondrial DNA. Damage to mitochondrial DNA leads to forms of aging and a variety of diseases.
What do we get out of the far end of the pipe? Another useless "anti-aging" potion manufacturer - as through we had a deficit of those, not enough salespeople clogging up public understanding of what is plausible in longevity research. While recognizing that we all thrive only by paying our respects at the temple of Mammon, it is disheartening to see yet another organization taking the path of least resistance and least promise. It is a shame, a tragedy, that the oppressive state of medical regulation in the developed world makes this an almost expected outcome. It is far, far easier to make a living unmolested in the provision of bread and circuses than to build something new and valuable with a boot pressed to your neck.
Incentives matter - and the FDA refuses to approve anything that might actually repair some form of age-related damage. Any medical application that might actually be approved to treat an FDA-approved disease is forced through insanely expensive, unnecessary and overwrought trial processes - unless of course it is one of the many, many new medical technologies that is discarded as not cost-effective in the face of this huge barrier.
So it is we have an ocean of "anti-aging" nonsense, bread and circuses with only the most tenuous connection to science of interest, because government regulators have made that the best road to a profit. Ultimately, venture investors will, as for most people, demand profits over the warm feeling of altruism and frustrations of trying to do good that unelected, unaccountable government employees have decided should not be done.
The systems and organizations of medicine and medical research are nothing short of insane in their structure and actions; a sea of waste and walls to block those best placed and eager to turn dreams into reality. It is long overdue a revolution.
I couldn't agree with you more about how foolish and self-defeating our regulatory environment is. What will change the calculus is the day an anti-AGE compound is approved for use in Diabetes. The following day there will be established an off-label market worth multiple billions. Think of anti-AGE Rx as a "proof of concept" for SENS. Venture capital floodgates will open.
Don't be disappointed!!! Our core mission to develop cancer therapies and therapies for age related diseases has not changed. As you are aware, it is difficult to navigate the complexities of the FDA and SEC these days. We are using our technologies to produce novel new comsumer products that should sell very well. We plan to use these revenues to fund our research and fund the very expensive road through the FDA. We have made some good progress with our cancer therapies and telomere elongation therapies. Due to SEC concerns I can not comment in detail publicly, but I would estimate we will have some sort of public annoucment by the end of the year.
Best regards,
David Dollar
Senior Vice President
Telomolecular Corp.
Thanks for posting David.
We appreciate your efforts. It's important that businesses such as yours are allowed to go on being profitable in order to continue your research, and I think everybody understands that.
Furthermore, I view the cosmetic treatment of aging as a pretty important first step. Why? Because it will have results people can see. Skin rejuvination is going to play a big part in creating public awareness of potentially succesful antiaging technoloigies as it will convinve the general ublic that this is possible. It's very important.
And besides, looking young and healthy is a big part of being young and healthy - so why not?
Rancho Cordova firm accused of bilking investors out of $6.5 million
By Dale Kasler - dkasler@sacbee.com
Published 1:43 pm PDT Thursday, September 25, 2008
An obscure Rancho Cordova medical technology company today was accused of bilking investors nationwide out of $6.5 million by lying about the progress it was making in finding cures for cancer. The company agreed to settle the charges without admitting or denying any wrongdoing.
In a lawsuit filed in Sacramento federal court, the Securities and Exchange Commission said Telomolecular Corp. boasted to potential investors that was "on the verge of success as a biotechnology firm." That claim was untrue, the SEC said. The company instead was selling a cosmetic skin cream over the Internet and had done less than $100,000 in business in two years.
The company and two of its former officers, ex-Chief Executive Matthew A. Sarad and ex-investor relations director Jeremy D. Jobe, agreed to settle the case without admitting wrongdoing.
Sarad, who lives in Folsom, agreed to pay a $100,000 fine and avoid serving as an officer or director of a public company for five years. The company and Jobe agreed to avoid future violations of the securities laws.
Telomolecular's lawyer, Gerald Nieser, said the company has already cleaned up its act.
"The company has got all new management," he said. "Virtually no one is there now who was involved in the activities that the charges are based on."
He said he's not aware of any criminal investigation.
Nieser said the company is continuing to work on scientific breakthroughs.
"What they're doing is trying to come up with a plan to save some value for the investors," he said.
In a statement released by his lawyer, Sarad said he is "extremely proud of the cutting edge medical work I did while at Telomolecular and I think it is unfortunate than an enforcement action was viewed as necessary. In the current heightened regulatory environment company executives must be much more diligent about the words they (choose) to use to express their holdings and prospects to investors."
The company never sold stock to the public but told its investors that a public offering would occur within weeks, the SEC said.
Michael Dicke, an SEC lawyer, said the company used its cancer claims to lure investors. "Here's a company that's trying to cure cancer. ... Wouldn't it be great to invest in this company because they're doing great things?" he said.
Thomas Eme, another SEC lawyer, said money was raised from 300 investors in 25 states.
why keep on trying here in USA where you know very well the Bigpharm Cartels are in control,there those emerging markets where it will be easy to establish yourselves then create an opening to the US MARKET?