Vanda Pharmaceuticals was founded in 2003 via a venture partnership between Care Capital and the Singapore Economic Development Board. The inspiration for the company evolved out of the pharmaceutical experience of Dr. Jerry Karabelas of Care Capital, former Executive Vice President at SmithKline Beecham, and former CEO of Worldwide Pharmaceuticals for Novartis and Dr. Mihael Polymeropoulos, CEO of Vanda Pharmaceuticals, who founded and headed the Pharmacogenetics Department at Novartis. Vanda Pharmaceuticals revitalizes and optimizes the development of therapeutics by applying genetic and genomic sciences. Vanda Pharmaceuticals's business concept combines the optimization of promising compounds, with a novel drug discovery model, and a division that provides pharmacogenetic and pharmacogenomic (PG) services to pharmaceutical and biotechnology companies, as well as research organizations. Vanda Pharmaceuticals is a US and Singapore-based company with its headquarters in Rockville, Maryland. This location hosts Clinical Development, Discovery, and Vanda Genomic Solutions (VGS). Vanda's Business Development division is based in Princeton, New Jersey. Preclinical activities, along with state-of-the-art genetic and genomic laboratories are established in the Singapore Biopolis.