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| Praxis Biotechnology Limited | ||
|---|---|---|
| Former Name | Praxis Pharmaceuticals Ltd | |
| Type | Megacorporation | |
| Traded As | PRXS | |
| Industries | Biotechnology, Pharmacutical, Research and Development | |
| Founded | 1966 | |
| Founder(s) | Dr Jane Hargreves and Dr Alex Ericson | |
| HQ Location | Melbourne, Victoria, Australia | |
| Area(s) Served | Systemwide | |
| Key People | Dr Andrea Hargreves, Chief Executive Officer | |
| Net Worth (₵) | ₵43.7 trillion | |
| Equity (%) | 85% | |
| Number of Employees | 12,000+ | |
| Division(s) | Hargreves-Ericson Research Institute Praxis Manufaturing Praxis Sales | |
Praxis is one of the leading biotech and pharmaceutical companies, an Australian megacorporation that has patented - or purchased - a majority of the most innovative medicines in use today. It is responsible for pioneering the latest medicines capable of healing grave wounds and regularly develops drugs that might have been considered miracle potions even in the 21st century. It is one of the companies that contributed to the eradication of AIDS by 2035.
The company made several breakthroughs in the late 2090s to early 2100s with AI-powered organism simulations, capable of simulating the effects of drugs on lab animals without using real specimens. After their accuracy was confirmed by the UN government following hundreds of double-blind trials, the technology affords the company, and those who license it, billions in saved credits and years of saved time for their medicines in addition to placating animal activists.
The current Chief Executive Officer of Praxis is Dr Andrea Hargreves, appointed in 2110
The company is split into 3 divisions, the Hargreves-Ericson Research Institute is the primary research and development division. Praxis Manufacturing, which is the primary pharmaceutical manufacturing division, Praxis Sales is responsible for the sale and promotion of Praxis manufactured products.
History
1966 - 2000: Praxis Pharmaceuticals
Praxis Biotechnology Limited was founded on June 5th 1966 by Dr Jane Hargreves and Dr Alex Ericson as a Praxis Pharmaceuticals Limited. Praxis made a name for itself by the manufacture of chlorpromazine, an anti-psychotic medication marketed as Thorazine. Using the cash surplus generated by the manufacture and sale of Thorazine, the company established the Hargreves-Ericson Research Institute, the company's primary research and development division.
From there, the company sectorised, establishing Praxis Manufacturing Limited, the companies manufacturing arm.
In 1972 praxis discovered Tramadol, an opioid-based painkiller used for treating light to moderate pain, marketed as Ultram, along with the compound Allopuranasone, a modified glucocorticoid anti-inflammatory immunosuppressant marketed as Tetradon in Australia and as CTAPE in the rest of the world. In 1973 Praxis founded its sales and marketing wing as the pivoted from directly approaching hospitals and healthcare organisations to sending sales representatives to individual doctors and groupings within healthcare organisations. This pivot saw a 10-fold increase in revenue when compared to previous years.
In 1979, Praxis established the Praxis Medical Foundation, formed to provide medical services to people who would not otherwise be unable to afford them in less developed parts of the world, the Praxis Medical Foundation is most commonly known in the United States for it's Debt Repayment Assistance, which allowed the burden of medical debt to be eased.
In 1979 the Hargreves - Ericson Research Institute isolated Factor VIII and Factor XI from human blood, which paved the way for a move away from Cryoprecipitate in the treatment of Type A and B haemophilia, 1983 a way to synthesise Factor VII and XI concentrate was discovered and Praxis Pharmaceuticals was awarded the contract to provide synthetic Factor VIII and XI to state-run hospitals, in 1984 a cost-effective way to manufacture synthetic Factor VIII and XI was found, which allowed Praxis to dominate the market globally in the manufacture of cheap and affordable Haemophilia treatment, with much of the world pivoting to the Praxis manufactured product, marketed as Clotteral-1 and Clotteral-2, averting the contamination crisis that would've otherwise arose from using conventional blood donations.
In 1989 the Disability Research Wing of the Hargreves-Ericson Research Institute invented an early form of the Man-Machine Interface used for the accommodation of people with Motor Neurone Disease, allowing them to use their brain to communicate with a text-to-speech device and control their wheelchair. In 1992 the very same wing introduced telecoils into hearing aids, allowing hard-of-hearing people to use things like telephones and other compatible devices. In 2000 Praxis was renamed to "Praxis Biotechnology Limited" to embody its changing role in the medical industry.
2000- Present: Praxis Biotechnology
In 2010 Praxis was the first to combine Emtricitabine/tenofovir as a form of Pre-Exposure Prophylaxis, as a part of the global strategy for HIV/AIDS prevention. Also in 2010, Praxis doubled down on MMI technology, integrating it into its line of prosthetics, allowing them to be controlled directly by the brain. In 2030 Praxis Biotech unveiled an early prototype of what was then termed a "Prosthetic eye", which used the MMI to feed electrical signals to the brain, also in 2030 Praxis discovered a way to make Rejection-Resistaint Monoclonal Antibodies, by forgoing the use of animal antibody cells, and substituting them for human genetic material, Praxis tied this discovery into the treatment of HIV/AIDS, naming the compound Antigrelusvirumxcelsumomab, and marketing it as PoEP (short for Post Exposure Prophylaxis) which was capable of preventing infection and contributed to the eradication of HIV/AIDS.
In 2090 Praxis invented a method to eliminate animals from the testing regiment for new medicines and products by using AI-Powered organic simulations, capable of simulating the effects of drugs on specimens, without the use of lab animals. These were tested throughout the 2090s and ultimately gained regulatory approval in 2100, appeasing various environmental pressure groups that had up until that point implored Praxis to cease animal testing.