There is a tremendous unrealized demand for foreskin regeneration around the world, particularly in countries such as the United States where the circumcision rate is high. Since our founding in 2010, Foregen has received the support and appreciation of men from around the world who come from varied ethnic, social, religious and economic backgrounds. These men have one thing in common: a deep, personal interest, and an enormous passion in seeing foreskin regeneration become a reality. The countless emails we have received demonstrate this passion and support for our project and leaves us with no doubt that we will bring foreskin regeneration to fruition...
There is a tremendous unrealized demand for foreskin regeneration around the world, particularly in countries such as the United States where the circumcision rate is high. Since our founding in 2010, Foregen has received the support and appreciation of men from around the world who come from varied ethnic, social, religious and economic backgrounds. These men have one thing in common: a deep, personal interest, and an enormous passion in seeing foreskin regeneration become a reality. The countless emails we have received demonstrate this passion and support for our project and leaves us with no doubt that we will bring foreskin regeneration to fruition.
Unfortunately, the medical community at-large does not acknowledge that there is a strong demand for foreskin regeneration. It is often viewed as unnecessary and frivolous, or worse, as a social taboo. Many, including health professionals, do not understand the needs and desires of the men who want to regenerate their foreskin, nor the physiological and psychological factors at play. This lack of enthusiasm and understanding that we have received from the medical community has been very frustrating. Throughout the past three years, we have obtained numerous research proposals from reputable research organizations. However, each has been deemed unsatisfactory in that it lacks the vision to accomplish the desired end result: a complete anatomically correct and fully functional foreskin.
Since foreskin regeneration is something that is extremely important to so many people, we canâ't let the apathy of the medical establishment deter us. A significant percentage of circumcised men around the world have a desire to regenerate their foreskin, many of whom are not being heard by the medical community today. Therefore, Foregen has decided to take the lead in conducting the pioneering research – with or without the help of the medical community.
This new role that Foregen will play offers many advantages including much greater freedom in choosing the direction of and making decisions regarding the research. As a result, we can finally move the project forward and conduct the research in a way that our scientists deem satisfactory to achieve our goal of foreskin regeneration. While this is a good thing in view of our ultimate objective, it unavoidably creates a delay in the short-term. The DEA (Drug Enforcement Agency) requires registration for many different materials, chemicals, and reagents that are necessary for conducting the needed laboratory work. In the past, we could rely on outside labs or organizations to provide the necessary permits and registrations for us. However, now that Foregen will itself conduct the research, we must obtain our own DEA permits and any state licenses for the restricted items that we need. This temporary delay in undertaking the research was deemed necessary for the completion of the project. It is very clear that after three years of unsatisfactory proposals that we must take the lead and do everything ourselves if we ever want to see the project reach completion. Despite the short-term delay, our goal will be reached sooner because we will be acting independently with full control over the project. We will no longer have to consider partnering with any organizations who may not share the passion and dedication we have for achieving this goal.
This decision necessitates a fundamental transition for Foregen. When Foregen was founded, we were a non-profit which served to raise funds and organize collaboration between researchers to facilitate making foreskin regeneration a reality. We were dependent upon others to actually carry out all of the research. Now, Foregen has decided to cast off this dependency. This transition is very clearly a necessary step for all of us to achieve our goal of foreskin regeneration, but it will inevitably change the structure and the organization as we currently know it.
In December 2012, we announced our preliminary plans to create a for-profit company to support the work of Foregen. Our goal of finding the quickest and most effective way to fully regenerate the foreskin has not and will not change. By necessity, this means raising a lot more capital much more quickly than we have to date. Furthermore, given the ambivalence of the medical community, we need to lead the project in all aspects ourselves. A for-profit company is the best way to achieve these things, and thus the idea of creating a for-profit Foregen is still in place. We are currently meeting with corporate lawyers to determine the best way to establish a for-profit entity. Two options are under investigation:
1) Create an entirely new for-profit entity, leaving Foregen as a non-profit entity but with a new president. In this scenario, the non-profit Foregen will be re-defined with regard to its mission-statement so as to legally eliminate any conflicts of interest with the for-profit entity. As such, it would likely be solely responsible for public awareness. It is important to note that it would be acting independently from the for-profit, and that the new president and new officers of Foregen the non-profit would decide its course. The for-profit entity would then take on the mantle of funding and conducting the research required for foreskin regeneration.
2) Transition the current non-profit Foregen into a benefit limited liability corporation (LLC). In simple terms, a benefit corporation is a special kind of for-profit organization which is obligated by law to demonstrate that it is working to provide a general benefit to society and not solely profit maximization for its shareholders. This represents a means by which we can obtain funding more rapidly, while still remaining true to the ideals and goals set forth for the original non-profit. A benefit corporation may be an especially good fit for Foregen, as we have always envisioned this project as one with a larger mission for society as a whole. As we have explained in the past, we believe that a for-profit organization will attract investment capital in ways that the non-profit organization could not. We worked hard to achieve our non-profit status (as our long-time supporters know), and our intention is not to cast aside our efforts of the past three years but rather to find the quickest and most effective possible route to affordable foreskin regeneration.
Whatever path we follow, it will take into consideration the advice of our legal counsel along with the many supporters who have donated to Foregen thus far. We want this to be a fully transparent transition with our intentions visible for all to see. Naturally, there will be questions regarding the donations already received by the non-profit organization. We are currently investigating the best way to protect the interests of those who have already financially supported us from legal, ethical, and substantive stand-points.
Once the plans for a for-profit are finalized and a new corporation is officially established, our progress will be much more rapid. We will seek investments, set up our own laboratory, and our scientists will move forward with the independence and freedom that has been lacking so far. We look forward to sharing more updates with you when our transition has been finalized. Thank you for supporting us and our project over the past three years and your continued support as we make this transition.