EQiTX increases equity in ZingoTX
Thursday, 28 July, 2005
Melbourne-based biotech managed investment group EQiTX (ASX:EQX) has increased its ownership in pain management company ZingoTX to 54 per cent with an equity instalment of AUD$300,000, bringing its total investment in ZingoTX to $1.9 million.
ZingoTX is developing synthetic Capsarol molecules -- hybrid structures derived from capsaicin and gingerols which target the TRPV1 receptor -- initially for the treatment of neuropathic (nerve) pain and inflammation.
The company initiated a preclinical toxicology and pharmacokinetic program on its lead compound in June and a phase Ia clinical trial is planned to begin in the second half of 2006.
ZingoTX was formed in February 2003 as a joint venture between EQiTX, TP Health and the University of Sydney and the company owns the intellectual property associated with the pain management compounds, having been assigned the rights to the US granted patent.
EQiTX has the option to invest a total of $2.36 million in ZingoTX, over a 36-month period, to own 58 per cent of ZingoTX.
Oxytocin analogue treats chronic abdominal pain
Researchers have developed a new class of oral painkillers to suppress chronic abdominal pain,...
'Low-risk' antibiotic linked to rise of dangerous superbug
A new study has challenged the long-held belief that rifaximin — commonly prescribed to...
Robotic hand helps cultivate baby corals for reef restoration
The soft robotic hand could revolutionise the delicate, labour-intensive process of cultivating...
