What Bloomberg Got Wrong About Phigenix

On September 29, 2017, Bloombeg BNA News published an article written by Dana A. Elfin, which state "Atlanta-based Phigenix is a nonpracticing entity (NPE), which means it buys up patents and makes money from selling licenses for them. "  This assessment is incorrect and mischaracterizes Phigenix and its corporate mission.  Phigenix was formed in 2007 by Dr. Carlton Donald as a "spin-off" biotech company from the Medical University of South Carolina, where Dr. Donald was a clinical researcher, to further develop novel therapeutic compounds and companion diagnostics that he invented.  Several publicly available resources describe Phigenix's research efforts in the area of Personalized Medicine.  The Bloombeg article can be read here: https://www.bna.com/phigenix-seeks-undo-n73014470365/.