Orthologic Corp. (OLGC)

Orthologic Corp., a development stage biotechnology company, engages in the development and commercialization of synthetic peptides and other molecules for patients with under-served conditions. The company’s product includes Chrysalin, or TP508, a 23-amino acid synthetic peptide, which is under pre-clinical testing for cartilage defect repair, cardiovascular repair, dental bone repair, and tendon repair. It also offers AZX100, a synthetic pre-clinical 24-amino acid peptide that consists of muscle relaxation and anti-fibrotic features. AZX100 is also evaluated for medical and commercial applications, such as prevention of dermal scarring and pulmonary fibrosis, as well as for the treatment of asthma and vascular intimal hyperplasia. The company was founded in 1987. It was formerly known as IatroMed, Inc. and changed its name to Orthologic Corp. in 1991. Orthologic Corp. is based in Tempe, Arizona.

For the six months ended 30 June 2006, Orthologic Corporation reported no revenues. Net loss increased 90% to $23M. Revenues reflect the discontinuation of Bone Device business. Higher loss reflects the presence of purchased in-process research & development costs, higher general & adminstrative expenses due to an increase in non cash stock based compensation. OLGC is a biotechnology company developing novel synthetic peptides Chrysalin.