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:
TAG: Spinifex secures investment develop pain therapy

(Date:12/19/2014)... December 19, 2014 If you have ... difficulty breathing, you probably wished you had an arsenal ... COPD, cystic fibrosis, and other breathing disorders. Currently, the ... and avoiding triggers, but other common treatments do exist. ... conference in San Antonio, TX, 34 asthma educators responded ...
(Date:12/19/2014)... This is a professional and in-depth ... industry with a focus on the Chinese market. The ... the Gliquidone manufacturers and is a valuable source of ... the industry. , Firstly, the report provides a basic ... manufacturing technology. Then, the report explores the international and ...
(Date:12/19/2014)... A new study suggests a possible link between certain ... night sweats -- and higher rates of hip fractures ... menopause, affecting about 60 percent of women. The hormonal ... they then face a higher risk of weakened bones ... moderate or severe menopausal symptoms are more likely to ...
(Date:12/19/2014)... (HealthDay News) -- Traveling through the same U.S. airport ... three others within a four-hour time span, illustrating just ... shows. "The exposures in this report were not ... international terminal, highlighting the fact that measles is highly ... infectious disease specialist at the U.S. Centers for Disease ...
(Date:12/17/2014)... 2014 Dr. Myo Nwe is the co-author ... of the Futureā€ and co-founder of the Ace Medical Weight ... Nwe takes a broad look at the industry of weight ... scientific scrutiny. On film and in television shows, however, she ... the social aspects and played for basic laughs, which she ...
Breaking Medicine News(10 mins):Health News:Harmonica Techs, Inventors of the Pulmonica®, Unveil New Findings on Complementary Treatments for Asthma 2Health News:Harmonica Techs, Inventors of the Pulmonica®, Unveil New Findings on Complementary Treatments for Asthma 3Health News:Gliquidone Industry Global and China Analysis for 2019, Now Available at ReportsnReports.com 2Health News:Gliquidone Industry Global and China Analysis for 2019, Now Available at ReportsnReports.com 3Health News:Gliquidone Industry Global and China Analysis for 2019, Now Available at ReportsnReports.com 4Health News:Gliquidone Industry Global and China Analysis for 2019, Now Available at ReportsnReports.com 5Health News:Gliquidone Industry Global and China Analysis for 2019, Now Available at ReportsnReports.com 6Health News:Severe Hot Flashes During Menopause May Raise Hip Fracture Risk Later: Study 2Health News:Arriving Now at Gate 42: Measles 2Health News:Arriving Now at Gate 42: Measles 3Health News:Obesity Should Not Be a Hollywood Punchline, Weight Loss Doc Says 2
(Date:12/19/2014)... 18, 2014 Radiology information ... is used to store, manipulate, and distribute patient ... patient tracking and scheduling system, result reporting, and ... with HIS and other databases improves the hospital ... patient scheduling, patient list management, radiology department workflow ...
(Date:12/19/2014)... BURLINGTON, Mass. , Dec. 18, 2014  Decision ... the United States will increase ... Growth will be primarily driven by expansion in the ... direct energy devices will be increasingly adopted due to ... launched. Other key findings from Decision Resources ...
(Date:12/19/2014)... , Dec. 18, 2014 Since last ... the site now known as the leading online black ... seen explosive growth in its offering of drugs and ... Alliance show the takedowns did succeed in lowering the ... last review of the markets in August. But some ...
Breaking Medicine Technology:The Global Radiology Information Systems Market is Expected to Grow at a CAGR of 7.5% from 2014 to 2019 2The Global Radiology Information Systems Market is Expected to Grow at a CAGR of 7.5% from 2014 to 2019 3U.S. Laparoscopic Device Market Will Reach Over $4.3 Billion by 2023 2U.S. Laparoscopic Device Market Will Reach Over $4.3 Billion by 2023 3Post Silk Road - Another Online Drug Den Now Dominates the DarkNet 2Post Silk Road - Another Online Drug Den Now Dominates the DarkNet 3
Cached News: