A small Radnor biotech firm working on drugs and polymers that can attack bacteria got some attention from Scientific American.
PolyMedix Inc. said the polymer it is working on is not a coating, like silver. CEO Nicholas Landekic is quoted in the article on the magazine's Web site as saying that its compounds become part of the surface of bedding, carpeting, countertops and towels.
But the article also says that the company is concentrating on its antibiotic to market rather the antibacterial polymer.
Polymedix said last Friday that it received clearance to begin human testing in Canada for its compound, PMX-30063.
What the article did not say was that Polymedix is a penny stock. Its shares closed today at $1.02, up a penny.
It's a very small company with 13 employees that has piled up $28.7 million in an accumulated deficit since its start in 2002. Not unusual for a biotech firm, but it's clear PolyMedix will need to find a corporate partner who can help finance its research and development.
PMX-30063 is a long way from Food and Drug Administration approval.