MIF blocking drugs being developed by Cortical

One of Australia's newest start-up companies has spun out of Monash University with a focus on finding therapeutics targeting the macrophage inhibitory factor (MIF).

Cortical, created to commercialise technology from Monash's Department of Medicine and the Victorian College of Pharmacy, is developing small molecule drugs to block MIF, a cytokine protein implicated in inflammatory diseases including arthritis, colitis and multiple sclerosis, as well as cancer.

Backed by $AUD2 million from GBS Venture Partners and Start-Up Australia Ventures, through the Federal Government's Pre-Seed and Innovation Investment Funds respectively, the company is expecting a second tranche of funding to be concluded imminently. The company has also received a $250,000 BIF grant in the most recent round.

According to Associate Prof Eric Morand, who along with Dr Magdy Iskander co-founded the company, existing anti-cytokine drugs such as Enbrel and Remicade are expensive and have to be administered by injection.

In contrast, Morand said that Cortical's approach is to use small molecules, which are cheaper and can be formulated for oral administration.

"Cortical's research covers products that have the exciting potential to be orally active cytokine antagonists. An enormous global market already exists for treating these diseases," said Morand.

"There are other ways to target these diseases but they can have serious side effects, many are given by injection and they involve considerable cost. Our research opens up a new potential therapy that could streamline treatment with a convenient tablet."

Morand has taken time out from his clinical and teaching activities to become the CEO of Cortical. He has been joined by Dr Errol Malta, formerly Director of Scientific Affairs at Amgen Australia, as chairman.

The company is currently in discussions with a potential international development partner with the aim of setting up a collaboration to further advance the project.

Right now the company is poised select its lead candidates for preclinical development. "We have compounds from a range of chemical classes from which to choose our lead candidate to take into preclinical studies," said Morand.