Congressman Cohen Announces $600,000 Grant for Memphis Biotech Company

The grant will permit MDI president and lead scientist, Dr. William Purcell, to continue his research on the wound-healing properties of a synthesized chemical compound that he developed called the “9-cis Retinoid Acid Derivative.” The compound has been used effectively to treat common skin conditions such as acne and psoriasis, but has also shown promise in fighting skin cancer.

“I am very pleased that the Department of Health and Human Services has recognized the good work being undertaken at MDI,” said Congressman Cohen. “Memphis is quickly growing into one of the nation’s epicenters for biotechnology and bioresearch with St. Jude, The University of Tennessee Health Science Center and a new $4 billion biocontainment facility on the way. Dr. Purcell used to work at UT, and I hope that others will follow his path and stay in Memphis should they decide to move into the private sector. With more enterprising, independent-minded scientists like Dr. Purcell in town, Memphis’ reputation as a biotech hub will continue to grow.”

William P. Purcell, Ph.D. founded MDI in 1975. MDI is primarily involved in the discovery and out-licensing of new pharmaceutical compounds. Their work has focused on pharmaceutical compounds in the fields of oncology, dermatology, female sexual dysfunction and obesity. Dr. Purcell is the sole shareholder of MDI and serves as its President and Chief Executive Officer. For more information on MDI and Dr. Purcell, please visit www.moleculardesign.com.

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Contact:
Marilyn Dillihay, Press Secretary, 202-225-3265
Charlie Gerber, Communications Assistant, 202-225-3265