Putting Patients First: How to Do Your Part… A Small Company’s Perspective

Contributed by OrthoGenRx.

2020 has brought the world to a standstill as we all feel the impact of COVID-19 both on a health and economic level. As the pandemic unfolds, we’ll determine how to react, pivot, and innovate. Many of us have concluded that this time and space has yielded a unique opportunity to make the world a better place. As ”stay healthy and stay safe” has become our daily mantra, we realize more than ever the vital role each individual play’s in our world and community.

Identifying tangible ways to better manage our businesses and daily lives while making a difference in our community can be challenging. However, even the smallest of steps can make an impact, collectively they add up and make a big difference.

OrthogenRx, a commercial stage emerging medical device company with roots in Eastern Pennsylvania would like to commend the ever-growing list of individuals and organizations in our collective PACT ecosystem who are driving change and doing what they can to help during the pandemic – essential services, healthcare professionals, etc.

No matter what innovation surfaces from telemedicine, diagnostics, prescription delivery, to new drugs, vaccines and medical devices, patients will always be the top priority. How to ensure people receive the care they need with the challenges of our new reality is certainly a question on many people’s minds. Telemedicine and centralized diagnostic centers are already part of the new reality with a huge surge in adoption over the past few months. While not a total solution, with people locked down at home, it has become a great way of accessing healthcare, although there will continue to be facets of healthcare that require in-person appointment with their healthcare professional.  This includes those who are in need of administration of medical device products like those distributed by OrthogenRx.

OrthogenRx is a small company but its employees frequently ask, as individuals or collectively, what can they do to contribute and make a difference.  Recently, on a virtual team meeting, OrthogenRx put up the: Who, Where and Why as a focus of brainstorming related to COVID-19.  With a focus to gather ideas and possible solutions to help make a difference in the face of the Corona virus.

Who?

Anyone working on the front lines and providing a service: Nurses, doctors, mail carriers, grocery clerks, etc.

Most know someone on the front lines doing amazing work (healthcare workers) or help to make our lives easier these days (Amazon).  A simple note of thanks or acknowledgement is all most need to know they are appreciated. A small gift such as a pre-paid gas card would certainly make anyone’s day.  The OrthogenRx team are identifying such individuals within their ‘family’, reaching out directly and acknowledging them in some way.  Maybe others within our ecosystem are or can do the same and we can collectively have an impact.  We as individuals and as a company must take action.

Where?

Your Community

Anyone can donate to any of the dozens of community charities who are focused on the target population that has been so dramatically impacted.  Priorities were identified such as assisting with food distribution, clothing, and housing access within your community.

The lower socioeconomic group has been hardest hit by the pandemic and food and nutrition is an immediate need.  So maybe you have time to help work at a local Food Pantry or at a local Food Bank, and/or maybe make a financial contribution.  Some of the local Food Banks include: Philabundance Community (www.philabundance.org); Food Bank of New Jersey (www.cfbnj.org); Mercer Street Friends Food Bank (www.mercerstreetfriends.org/food-bank).

“Historically, our company has always been philanthropic to reputable charitable organizations, with either regional or national reach.  OrthogenRx plans to continue and increase this effort during the pandemic. In addition, we have asked all of our employees at OrthogenRx to donate to a charity of choice in their local community targeting those impacted by the pandemic, and the Company will match it”, said Michael Daley, PhD. Founder and Co-CEO at OrthogenRx.

The Team also identified the continuing, simple, and effective measures we all should all continue to practice when directly interacting with any community organization: social distancing, frequent hand washing and wearing a mask.  Everyone is encouraged to respect the mandated local or state guidelines, or those imposed by the local place of business you may be visiting.  While social distancing is critical to slow the spread of the virus, it is also important not to isolate those we care about, or opportunities to get involved with community volunteering. The team at OrthogenRx also concluded that routinely reaching out to our network of family and friends.  We can all do this, and it can make a difference.  Listen and be sensitive to the emotional toll that can be realized during this pandemic by individuals.  Whether it is a phone call, email, or text – ‘distant socializing’ is healthy and shows you care.

Why:

It is simply the right thing to do

COVID-19 is a three-pronged crisis: physical health, mental health and economic. There is no quick fix and even after the threat of the disease is over, we will all have to adapt to the new ‘normal’.  In May the unemployment rate rose to 28.5 million – more than three times the number of jobs lost during the 2008 financial crisis – and is approaching 20%, a record high for the U.S., including the Great Depression.  Most of these individuals in addition to losing their income may also have lost healthcare coverage which can further exacerbate their financial crisis.

Pre-pandemic the OrthogenRx Team had already been working diligently to launch two programs to enhance patient access to their products. The pandemic increased the programs importance and OrthogenRx accelerated its efforts to launch them.  The programs assist patients that do not have health insurance or do not have the financial resources to pay for OrthogenRx products.

“Our focus on optimizing patient care through greater access, combined with a strategic pricing model, will continue to serve our patients. We are proud to supply these offerings through innovation and dedication to execution excellence.” Dr. Daley stated.

We all can do our part from small acts of kindness or if in a position to do more, consider providing financial assistance or other needed services. How are you helping in your community?

Let us know at [email protected].  Let’s continue this conversation on social channels. After all, we are all in this together:  Stay safe… Stay diligent… Stay healthy!

#stayhealthy #staysafe

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Member of the Month: OrthogenRX, Inc

OrthogenRx, Inc. continues to build on its commercial success with the announcement on November 13, 2017 that the FDA approved (P160057) their Class III Medical Device, TriVisc™.  TriVisc™ will compete, along with the Company’s first product, GenVisc® 850, in the $1.1B U.S. market composed of intra-articular injections of hyaluronic acid for the treatment of osteoarthritis knee pain in patients who have failed to respond adequately to conservative non-pharmacologic therapy and simple analgesics, e.g., acetaminophen.  TriVisc™ directions for use is for three-weekly injections, and will compete in an addressable $450MM market. 

OrthogenRx transformed itself from a start-up to a commercial company in just 2 yrs.  The Company is cash-flow positive in 2016, just 3 years from initial funding, and has a rich pipeline of follow-on products in development.  It is led by a seasoned management team with decades of experience in product development and commercialization.  OrthogenRx’s unique platform and regulatory approval blueprint for its pipeline of products in development and licensing strategies are projected to approach $200MM in revenue by the end of 2020.

Learn more about this PACT member.

Member Spotlight: OrthogenRx, Inc.

OrthogenRx, Inc. a resident of the PA Biotechnology Center in Doylestown has transformed itself from initial Seed funding in January 2014 to commercial launch of its first product in May 2016, GenVisc 850, used in the treatment of osteoarthritis knee pain. In December 2016 the Company reported it was cash-flow positive, and is on track to achieve over $17MM in sales in 2017 in its first full year of sales. The Company is led by an experienced management team with decades of experience in product development, commercialization, sales, marketing, and reimbursement, and now has 20 full-time employees. OrthogenRx was founded by Bucks County resident Michael Daley PhD and was initially funded by a syndicate of Angels and Ben Franklin Technology Partners, including $187,500 in investment from the Venture Capital for Bucks County, VC4BC. OrthogenRx’s unique platform and regulatory approval blueprint afford the company an accelerated go-to-market strategy at a significant reduction in cost and time. The Company also has a rich pipeline of 4 additional products in development which could add up to $200MM in topline revenues by 2021.

Click here to learn more on OrthogenRx, Inc.