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Report No. : |
337130 |
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Report Date : |
27.08.2015 |
IDENTIFICATION DETAILS
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Name : |
TOLERO PHARMACEUTICALS, INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
27.06.2011 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject is a biopharmaceutical company, discovers and develops novel
therapeutics to treat cancer and other human diseases. |
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No. of Employees : |
6 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
UNITED STATES - ECONOMIC
OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $54,800. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at Purchasing Power Parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.
In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.
Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.
The onrush of technology has been a driving factor in the gradual development of a "two-tier" labor market in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.
Imported oil accounts for nearly 55% of US consumption and oil has a major impact on the overall health of the economy. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008.
The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the United States into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009 the US Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012, the federal government reduced the growth of spending and the deficit shrank to 7.6% of GDP.
Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2014, the direct costs of the wars totaled more than $1.5 trillion, according to US Government figures. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.
In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that was designed to extend coverage to an additional 32 million American citizens by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on health care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010.
In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight.
In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short term rates near zero until unemployment dropped below 6.5% or inflation rose above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and reduce them further as conditions warranted; the Fed ended the purchases during the summer of 2014. In 2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by mid-2015, the lowest rate of joblessness since before the global recession began in 2008; inflation stood at 1.7%, and public debt as a share of GDP continued to decline, following several years of increase.
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Source
: CIA |
Company name: TOLERO PHARMACEUTICALS, INC.
Address: 2975 Executive Parkway,
Suite 320, Lehi, UT 84043 - USA
Telephone: +1
801-285-6003
Fax: +1 801-285-7401
Website: www.toleropharmaceuticals.com
Corporate ID#: 5003002
State: Delaware
Judicial form: Corporation – Profit
Date incorporated: 06-27-2011
Stock: -
Value: -
Name of manager: David
J. BEARSS
Business:
Tolero Pharmaceuticals, Inc., a biopharmaceutical company, discovers and
develops novel therapeutics to treat cancer and other human diseases in the
United States.
The company develops Alvocidib, a cyclin-dependent kinase small molecule
inhibitor; and TP-0413 that targets a signaling pathway complicated in the
regulation of serum iron levels for individuals suffering with chronic
inflammatory diseases, such as cancer and rheumatoid arthritis.
It also develops TP-0903, an anti-cancer and dual-targeted agent that
inhibits two signaling pathways for pancreatic cancer cell growth and survival,
and for the maintenance of the tumor stromal cells; and TP-3654 PIM inhibitor
signaling pathway that allows tumor cells to respond to normal cell death
signals, and shows to induce apoptosis in experimental systems for prostate
cancer, acute myeloid leukemia, and lymphoma models.
The company was founded in 2011 and is based in Lehi, Utah.
Office of the Foreign
Assets Control (OFAC):
The company is not listed on the OFAC list.
The Specially Designated Nationals (SDN) List is a publication of OFAC
which lists individuals and organizations with whom United States citizens and
permanent residents are prohibited from doing business.
No name of foreign suppliers available.
EIN: -
Staff: 6
Operations & branches:
At the headquarters, we
find a research center and office, on lease.
Shareholders:
This is a private Company.
Management:
David J. BEARSS, Ph.D. is the Founded Tolero Pharmaceuticals, Inc. in
2011 and serves as its Chief Executive Officer. Dr. Bearss has been Biology
Consultant at SuperGen Inc. (AKA Astex Pharmaceuticals, Inc.) since September
2009.
Dr. Bearss served as Chief Scientific Officer of SuperGen Inc. from
November 2008 to September 2009 and served as its Vice President from April
2006 to September 2009. Dr. Bearss served as Chief Scientist of SuperGen Inc.
and oversaw the drug discovery and development. He was a Consultant in the development
of the pipelines of several biotechnology companies.
Dr. Bearss served as Co-Director of the Center for Investigational
Therapeutics at the Huntsman Cancer Institute and an Associate Professor in the
Department of Oncological Sciences at the University of Utah.
Dr. Bearss was the Founder of Montigen Pharmaceuticals in 2003 and
served as its Chief Scientific Officer and Scientific Leader until 2006. He is
an expert in targeted small-molecule drug development and the use of genetic
model systems in drug discovery and development. Dr. Bearss is an expert in the
development and use of genetically modified animals to model human disease. Dr.
Bearss serves as a Member of the Scientific Advisory Board of SuperGen Inc. Dr.
Bearss served as Faculty of the University of Arizona as an Assistant Professor
in the Department of Molecular and Cellular Biology and a Member of the Arizona
Cancer Center, where he developed several novel chemical entities targeted
against drug targets validated in his lab. Dr. Bearss worked at Institute of
Drug Development. He has published more than 50 manuscripts and book chapters,
has over 20 patents issued or pending and has won several awards for his
scientific achievements.
Dr. Bearss was a Fellow at the Cancer Therapy and Research Center (CTRC)
in San Antonio, Texas since 1999.
Dr. Bearss received his PhD in Cell and Molecular\Structural Biology
from the University of Texas Health Sciences Center where he studied the
contribution of genetic alterations to the properties of cancer cells,
including how they specifically affect treatment response.
Dr. Bearss holds a B.S. degree from Brigham Young University.
Dallin M. ANDERSON founded Tolero Pharmaceuticals, Inc. in 2011 and
serves as Chairman and President.
Mr. Anderson served as Chief Executive Officer of Code Genetics, a
developer of genetic based solutions for enhancing human health and wellness.
In 2003, Mr. Anderson founded Montigen Pharmaceuticals, Inc., a
privately held drug discovery and development company focused in oncology,
where he served as Chairman, President, and Chief Executive Officer. In 2006,
Mr. Anderson sold Montigen Pharmaceuticals to SuperGen (Nasdaq: SUPG), and
founded Code Genetics. Prior to Montigen, Mr. Anderson worked as a strategy
consultant at McKinsey & Company, and in finance at Intel Corporation.
Additionally, Mr. Anderson is the co-founder and past Executive Director
of an international new media political content and activism portal, and has
been instrumental in helping to form, manage, and advise several start-up
companies. Mr. Anderson was honored as a finalist for the 2006 Ernst &
Young "Entrepreneur of the Year" award for the Utah/Colorado region.
He is a five-time inductee into the vSpring "v100 Entrepreneurs" and
was honored as one of Utah Business Magazine's "Top 40 under 40".
Mr. Anderson received an AAS in Finance from Brigham Young
University-Idaho where he served as Student Body President and graduated with
Highest Honors, and a BS in Accounting from Brigham Young University where he
again served as Student body President and graduated with University Honors.
Mr. Anderson received an MBA from Harvard Business School.
David W. SAMPSON is the CFO
Subsidiaries and
partnership:
None
In United States, privately
held corporations are not required to publish any financials.
On a direct call, nobody
was available to answer our questions.
We sent a fax but no answer
received.
However, sales estimate for
year 2014 is in the range of USD 900,000=
Banks: Chase Bank
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts
summary (UCC):
None