Shellfish gene helps Brisbane biotech
Wednesday, 27 February, 2002
Brisbane biotech business Xenome Ltd is moving closer to human trials with a pain-killing molecule derived from the venom of a marine shellfish.
The public, unlisted company has announced the start of pre-clinical 12 to 18-month trials for the lead molecule in its development program.
The peptide molecule, derived from cone shell venom, could prove more effective than morphine for the long-term treatment of patients suffering chronic pain, Xenome claimed.
It represents a new class of molecule which acts in a different way than others derived from cone shells which have already been in human clinical trials, the company said.
The molecule has proved effective in treating neuropathic and inflammatory pain in animals, said Xenome co-founder and research head Dr Roger Drinkwater.
The company is now seeking to confirm the molecule's efficacy and will conduct metabolic processing studies as a part of its pre-clinical test program.
These will be followed by more formal toxicity studies as a prelude to testing in humans.
The new molecule could have broad application in the treatment of certain chronic pain conditions, Drinkwater said in a statement released to the Australian Stock Exchange.
"Currently the primary drugs used are the opiate analgesics, such as morphine, which are often not well tolerated by patients who require long- term treatment."
Xenome CEO Dr Tony Evans described the new class of molecules as a ground-breaking discovery that could generate important drug candidates.
Xenome is a two-year-old spin-off from the University of Queensland which focuses on creating new drugs based on the venom of Australian animals.
In November the company found $4.5 million in second-round funding which Evans said should see Xenome through the new molecule's pre-clinical trials.
The funds included $1 million from investment company Medica Holdings and $3.5 million from Biotech Capital Limited, an ASX-listed pooled development fund based in Sydney. The other major shareholder in Xenome is UniQuest Pty Ltd /a>, the commercialisation arm of the University of Queensland.
Also underpinning Xenome's current development program is a $1.65 million AusIndustry START grant.
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