Tranzyme Pharma Ranked Number 54 Fastest Growing Company in North America on Deloitte’s 2011 Technology Fast 500(TM)
RESEARCH TRIANGLE PARK, NC – October 20, 2011 –Tranzyme Pharma today announced it ranked No. 54 on Deloitte’s Technology Fast 500™, ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Tranzyme Pharma grew 2,239% percent during this period.
“We are very pleased to be recognized by Deloitte as one of the fastest growing companies in North America,” said Vipin Garg, Ph.D., President and CEO, Tranzyme Pharma. “The licensing fees we received from our strategic partners, Norgine B.V., and Bristol-Meyers Squibb reflect the growth of our topline and support our development activities.”
“Tranzyme Pharma, like all 2011 Technology Fast 500™ companies, has excelled in fostering innovation and channeling it into spectacular growth against the backdrop of one of the most challenging economies in history,” said Eric Openshaw, vice chairman and U.S. technology, media and telecommunications leader, Deloitte LLP. “Deloitte recognizes Tranzyme Pharma for its remarkable accomplishment.”
“We are pleased to honor Tranzyme Pharma as a 2011 Technology Fast 500 company,” said Mark Jensen, managing partner, technology and venture capital services, Deloitte & Touche LLP. “As one of the fastest growing tech companies in North America, Tranzyme Pharma has demonstrated excellence in technological innovation, entrepreneurship and rapid growth.”
Overall, 2011 Technology Fast 500™ companies achieved revenue growth ranging from 134 percent to 70,211 percent from 2006 to 2010, with an average growth of 1,736 percent.
About Deloitte’s 2011 Technology Fast 500™
Technology Fast 500, which was conducted by Deloitte & Touche LLP, a subsidiary of Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2006 to 2010.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About Tranzyme Pharma
Tranzyme Pharma is a late-stage biopharmaceutical company focused on discovering, developing and commercializing novel, mechanism-based therapeutics for the treatment of upper gastrointestinal (GI) motility disorders. While approximately 20 percent of adults worldwide are affected by these persistent and recurring conditions which disrupt the normal movement of food throughout the GI tract, currently there are a limited number of safe and effective treatment options. Tranzyme is developing an intravenous drug, ulimorelin, for patients in acute (hospital-based) settings, as well as an oral drug (TZP-102) for chronic conditions. Ulimorelin is currently in Phase 3 clinical trials and TZP-102 is entering Phase 2b. Together these product candidates target a significant underserved market. By leveraging its proprietary drug discovery technology, Tranzyme is committed to pursuing first-in-class medicines to address areas of significant unmet medical needs.
Further information about Tranzyme Pharma can be found on the Company’s web site at www.tranzyme.com.