AlgoRx Pharmaceuticals was founded in 2001 as a VC-backed company focused on developing and commercializing a diversified portfolio of pharmaceutical product candidates to address a large and under-served market in pain. AlgoRx acquired Powderject Technologies in 2002 and merged with Corgentech in 2005 to form Anesiva, which continued development of the pain assets. The two lead products were Zingo, a painless intradermal injection system for powdered lidocaine to reduce pain from venous procedures, and ALGRX 4975, pure trans-capsaicin for injection to treat pain emanating from a local source such as postsurgical pain, post-trauma neuropathic pain, and musculoskeletal pain, including osteoarthritis and tendonitis. Zingo was approved by the FDA in 2007. ALGRX 4975 is currently being developed by Centrexion Therapeutics as CNTX-4975 for moderate-to-severe osteoarthritis pain and Morton's neuroma.