Founded in 2008, Zyngenia, Inc., is a privately held biotherapeutics company focused on the development of the next-generation of antibody-derived drugs. Zyngenia’s exciting and potentially game changing science – which aims to create therapies for patients who have unmet medical needs in cancer and autoimmune diseases – makes the company one of a very small number of Maryland businesses that have received a substantial amount of investment interest over the past couple of years.
Zyngenia’s founders turned to RCM&D shortly after the company’s inception to find a partner that could provide a full suite of services, including property and casualty insurance, benefits, directors and officers insurance, 401K, workers’ compensation, and long and short-term disability. Having top-notch benefits, insurance and retirement plans helps Zyngenia to better attract and retain scientists in an extremely competitive market.
“RCM&D is really proactive and provided us competitive rates – in fact, they were able to lower our price for directors and officers insurance by 25 percent,” said Joseph Amprey, Zyngenia’s chief business officer. “They are ready, willing and able to do what is needed. When we started the company, there were a lot of things we didn’t know, so they walked us through it and helped make sure we had the most optimal plans for protecting the company.”
As Zyngenia continues to grow, so will its relationship with RCM&D. The company plans to enter human clinical trials in its next phase of development, bringing with it a whole new set of risks specific to the life sciences industry.
“RCM&D has worked with a lot of companies that are our size and in the same space,” said Amprey. “They know the type of protections we need and are familiar with the limits that are best for companies like ours, and they know how to negotiate to get more favorable rates for those types of plans."