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
Research Australia

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:
TAG: Spinifex secures investment develop pain therapy

(Date:10/8/2015)... , ... October 08, 2015 , ... ... 632-9525 ext. 130 , Oakland Zoo Hosts Weekend of Happy Halloween Themed Activities ... experience called, Family Sundown SPOOKfari . The program is designed include outdoor ...
(Date:10/8/2015)... ... October 08, 2015 , ... ... for the fifth consecutive year. The Philadelphia 100® has been the hallmark of ... the Wharton Small Business Development Center, The Entrepreneurs' Forum of Greater Philadelphia and ...
(Date:10/8/2015)... ... 08, 2015 , ... Daniel S. Herman, Director and Informatics ... by the Healthcare Information and Management Systems Society (LFHIMSS) for his long-term service ... Board of Directors advances members to this status who have been thought leaders ...
(Date:10/8/2015)... ... October 08, 2015 , ... Western ... launched Advanced Training Programs through VirtualU@WesternU, a distance learning Continuing Education and ... VirtualU@WesternU offer an entirely new generation of live patient, hands-on learning for ...
(Date:10/8/2015)... ... , ... HIMSS will dig deep into one of the most pressing issues ... , to be held at the Westin Copley Place in Boston on November 5-6, ... Bates, CIO and SVP of Brigham and Women’s Hospital, as keynote speakers, the solutions-driven ...
Breaking Medicine News(10 mins):
(Date:10/8/2015)... 8, 2015  Ardelyx, Inc. (NASDAQ: ARDX ... and cardio-renal diseases, today announced that clinical data ... be presented at the 2015 American College of ... measures of sustained response in IBS-C patients enrolled ... Phase 2 trial. The meeting will be held ...
(Date:10/8/2015)... " Biomedical Refrigerators and Freezers ... Forecast 2014 - 2022 " , the biomedical refrigerators ... 2013 and is anticipated to expand at a CAGR of ... in 2022. --> " Biomedical Refrigerators and ... and Forecast 2014 - 2022 " , the biomedical ...
(Date:10/8/2015)... 2015 http://www.researchandmarkets.com/research/vwlc5m/global_api_market ) ... API Market Outlook 2020" report to their ... the addition of the "Global API Market ... --> Research and Markets ( http://www.researchandmarkets.com/research/vwlc5m/global_api_market ) ... API Market Outlook 2020" report to their ...
Breaking Medicine Technology:
Cached News: