HOME >> MEDICINE >> NEWS
Spinifex secures $3.25m investment to develop pain therapy

A pain drug development company spun out of The University of Queensland has received a $3.25 million investment commitment to develop its innovative new pain therapy.

Spinifex Pharmaceuticals, an emerging biotechnology company specialising in the development of therapeutics for the treatment of neuropathic pain, has attracted investment from a syndicate including Symbiosis Group Limited, Melbourne-based GBS Venture Partners Limited and Uniseed.

Spinifex Pharmaceutical Managing Director, Dr Michael Thurn said he was delighted by the investment commitment which will help to accelerate their drug development program.

"We've several promising small molecules currently under evaluation and we plan to be in a position to start a formal toxicology program on one of those molecules in 2006," said Dr Thurn.

"The two main causes of neuropathic pain are through diabetes, affecting an estimated 45 per cent of diabetics, and through complications arising from infection with herpes zoster [shingles], known as post-herpetic neuralgia.

"We see a significant world-wide market for our pain therapy, and this investment will progress our efforts in delivering a novel solution."

Spinifex's core technology relates to the discovery (made by University of Queensland researchers led by Professor Maree Smith) of a novel pathway for the treatment of neuropathic pain. Professor Smith's group successfully validated this pathway using small molecules in well-defined animal models of neuropathic pain.

Managing Director of investment company Symbiosis, Dr Mark Harvey, said Spinifex was an attractive investment, led by a strong team with extensive experience in the international and local biotechnology industry

He said the neuropathic pain market targeted by Spinifex's technology was currently valued at US$3 billion.

"With a solid intellectual property position and several 'drug-like' molecules already in hand we expe
'"/>

Contact: Dr Michael Thurn
61-7-3842-3153
Research Australia
26-Jul-2005


Page: 1 2

Related medicine news :

1. University of Rochester spin-off secures $2 million in funding
2. Medical College of Wisconsin secures key contract from US HRSA
3. Molecular Profiling Institute secures $7.5 million in Series B funding
4. Menzies secures $1.8m in funding for the NT
5. ASU secures $3.9 million to study spinal cord injuries and neurological disorders
6. Damon Runyon renews its $2.25 million investment to support young clinical cancer investigators
7. New PBS investment as PBS slows
8. Industry welcomes massive Victorian investment in medical research
9. European Science Foundation warns nanomedicine benefits will be lost without major investment
10. Medicares investment in quality improvement may not be paying off
11. Baby DVDs, videos may hinder, not help, infants language development

Post Your Comments:
*Name:
*Comment:
*Email:


(Date:8/19/2017)... ... August 18, 2017 , ... ... at creating a transparent, verifiable database to help the cannabis industry move towards ... Paragon hopes to deliver a faster technology with lower fees. Paragon will build ...
(Date:8/19/2017)... ... August 19, 2017 , ... Praeclarus Press has ... These illustrations show the diversity of the breastfeeding mothers, using bright colors ... of sizes. These illustrations are also available on tote bags, notepads, smartphone cases, ...
(Date:8/19/2017)... ... August 19, 2017 , ... “Congratulations! It's A Boy! ... children to both their parents and God. “Congratulations! It's A Boy! God’s Gift: A ... a couple from Long Island, New York. , Published by Christian Faith Publishing, Dale ...
(Date:8/18/2017)... York, New York (PRWEB) , ... ... ... International Courier, LLC, d/b/a Quick International, LLC (“Quick”), a highly specialized asset-light ... announced it has entered into a definitive agreement to purchase Unitrans International ...
(Date:8/18/2017)... ... August 18, 2017 , ... ... devices. Through an educational webinar, they will present the line of epMotion automated ... learn how easy you can automate everyday pipetting tasks. , Ideal for scientists ...
Breaking Medicine News(10 mins):
(Date:8/7/2017)... , Aug. 7, 2017  Endo International plc (NASDAQ: ... agreements to resolve virtually all known U.S. mesh product ... to resolve the known remaining U.S. claims at reasonable ... beginning in the fourth quarter of 2017 and continuing ... its second quarter 2017 results, the Company intends to ...
(Date:8/2/2017)... Calif. , Aug. 2, 2017 ... Continental Who,s Who as a Pinnacle Lifetime Professional ... the Key Account Manager at Turing Pharmaceuticals, AG. ... negotiations, troubleshooting and relationship building.                ... has more than 25 years of experience as ...
(Date:8/1/2017)... 2017   CerSci Therapeutics , a non-opioid drug ... , has received notice from the National Institute on ... (NIH) that it has been awarded a Direct-to-Phase II ... in 2017 with an additional $1,000,000 to follow in ... application of their lead non-opioid drug candidate CT-044 to ...
Breaking Medicine Technology:
Cached News: