PharmAust to receive royalty

LOCAL listed pharmaceutical company PharmAust has announced that its wholly owned subsidiary, Epichem, in collaboration with an international pharmaceutical group and Murdoch University, has discovered several anti-parasitic drug compounds and will receive a royalty from any future commercialisation. As a result of the project, Murdoch has filed a provisional patent from which Epichem will receive a 12 per cent royalty on net revenues resulting from any commercial drugs developed from the intellectual property, the company said. The compounds that have been discovered have been found to have activity against a number of parasites for which there are currently no safe and effective treatments, according to PharmAust.

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