Wayne’s life sciences company, Medgenics, is charting a new course in its development, and has changed its name to Aevi Genomic Medicine to reflect the new direction, writes John George for the Philadelphia Business Journal.

The company is now focusing on targeted genomic medicine through collaboration with the Children’s Hospital of Philadelphia. This is a significant shift from its original focus of commercializing gene therapy technology development out of Israel. The company also has a new NASDAQ Global Markets ticker (GNMX).

Under its new name, Aevi hopes to improve the lives of children and adults facing pediatric-onset, life-altering diseases. Its most advanced new drug candidate is a potential treatment for patients predisposed to a severe form of attention deficit hyperactive disorder linked to up to 280 concurrent gene mutations.

“The past year has been a period of transformational change for the company,” said Michael F. Cola, president and CEO of Aevi Genomic Medicine. “The name change reflects the company’s shift in strategy, our new business model, and focus on genomic medicine.”

Read more about the transformation in the Philadelphia Business Journal here, and check out previous VISTA Today coverage of Medgenics here.