Major boost for rheumatoid arthritis drug development
The first spin-out company from Perth's Telethon Institute for Child Health Research has achieved national recognition with a prestigious AusIndustry grant worth $2.27 million.
The funding to Phylogica reflects the exciting potential of the new drug technology being developed by the company, which was listed on the Australian Stock Exchange in March.
Institute Director, Professor Fiona Stanley, said the grant reflects the quality and novelty of the science behind the new drug delivery platform. "This is a great endorsement of the scientific excellence that underpins Phylogica," Professor Stanley said.
"Our aim is always to see our research translated into real benefits to the community and the grant will certainly accelerate the path to commercialisation."
Phylogica's Phylomer® technology is an alternative to conventional antibody-based therapies and can be manufactured at a much lower cost. The AusIndustry funding will be used to progress promising drugs for Rheumatoid Arthritis to clinical trial.
Phylomers® are stable fragments of naturally-occurring proteins with the ability to bind tightly to target proteins and inactivate them as a result. Phylomers® can be selected for activity against specific disease target proteins.
"While Rheumatoid Arthritis will be the first disease area targeted, we're hopeful that the Phylomer® technology will provide new therapies for a wide range of diseases including asthma and type two diabetes," Professor Stanley said.
Source: Eurekalert & othersLast reviewed: By John M. Grohol, Psy.D. on 21 Feb 2009
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