WA-based PharmAust Ltd's wholly owned subsidiary Epichem Pty Ltd, in collaboration with Murdoch University and Centre for Drug Candidate Optimisation, have received $240,000 in funding.
WA-based PharmAust Ltd's wholly owned subsidiary Epichem Pty Ltd, in collaboration with Murdoch University and Centre for Drug Candidate Optimisation, have received $240,000 in funding.
The three collaborating partners will share the funds which will enable Epichem's current anti-parasitic lead compounds to progress to a number of potential drug candidates for the treatment of trypanosome infections.
The funding was offered by the Swiss-based Drugs for Neglected Diseases initiative and will be offered for a second year if project milestones are met.
Below is the announcement:
PHARMAUST AWARDED FUNDING TO CONTINUE THE FIGHT TO HELP THE
DEVELOPING WORLD
PharmAust Limited (ASX: PAA) is pleased to announce that wholly owned
subsidiary Epichem Pty Ltd ("Epichem"), in collaboration with Murdoch University
and the Centre for Drug Candidate Optimisation ("CDCO"), have been offered
funding from Drugs for Neglected Diseases initiative ("DNDi")
The DNDi office (www.dndi.org)
is based in Geneva, Switzerland, but its reach is
global. It is a catalyst for drug research and development for neglected diseases,
bringing together resources from public sector institutions and the pharmaceutical
industry around the world.
Total project funding is for 150,000 (approximately AUS$240,000) for the first year
with the potential for a similar amount in the second year if project milestones are
achieved.
Any outcomes from the project related to the treatment of parasitic diseases of
humans in the developing world will be licensed to DNDi free of charge but
Epichem, Murdoch University and the CDCO retain rights to commercially exploit
any outcomes for drugs used in the developed world or veterinary drugs.
It is envisaged that the funds, which will be shared between the three collaborating
partners, will enable Epichem's current anti-parasitic lead compounds to be
progressed to a number of potential drug candidates for the treatment of
trypanosome infections.
The funding is for a project entitled "Novel, orally available drug candidates for
trypanosome infections".
Trypanosome infections are parasitic diseases
responsible for considerable suffering and death in both man and livestock
throughout many parts of the world. They include African Sleeping Sickness and
Chagas disease, which is found across South America. Chagas disease causes
death in more than 30% of cases.
The Managing Director of PharmAust Dr Paul D'Sylva confirmed the significance
of this grant,
"Most neglected diseases, almost exclusively affect people in developing countries
and some drugs exist, but most are antiquated (some are 70 years old), toxic and
becoming less effective because of resistance"
" New R&D is urgently needed to offer neglected patients a wider range of safe and
effective treatments and it is indeed a great honour to be recognized as being able
to assist an organization of the caliber of DNDi who's founding partners included
Médecins Sans Frontières, the Oswaldo Cruz Foundation, and Institut Pasteur
among others "
"The addition of the CDCO will greatly assist in taking research to the next stage
through the ongoing Epichem and Murdoch University collaboration whilst also
being an excellent opportunity for PharmAust to possibly make a difference on a
global scale to many people, especially those in poorer regions "
Work on the project is expected to commence in early 2006 once formalities are
complete and the funds released.
