Australian cancer drugs get a shot in the arm

Cancer Therapeutics (CTx) has commenced operations as one of the largest public/private partnerships of its type in the world.

Supported by AU$148 million in funding over seven years, including AU$37.6 million from the Australian Commonwealth Government, the company will address Australia's gap between academic cancer research base and drug development capabilities.

The company is now seeking projects of the theme "big ideas about small molecules' from research organisations in Australia. One of the first projects started is to discover and develop compounds directed at BNO69, Adelaide-based Bionomics Limited's proprietary cancer target.

The company will create a dedicated drug discovery capability and drive the discovery, development and commercialisation of new compounds from research organisations and small biotechnology companies across Australia.

The company is hoped to expedite the discovery and early development of new therapies that might otherwise languish from a lack of supporting funds, resources and expertise.

"CTx will provide an integrated and coherent pathway for drug discovery, commercialisation and clinical development," said Dr Julian Clark, Melbourne-based CEO of CTx.

"Currently, the standard model of drug development can present a frustrating conundrum for medical researchers. The discovery of a new compound, which may well possess the qualities to be transformed into a new drug, requires further substantial investment to properly demonstrate its potential. At this point, research organisations operating on tight budgets and with limited development experience and/or capabilities feel that further investment is beyond their grasp.

"In addition, pharmaceutical companies are reluctant to take on the development of compounds at a very early stage because their likelihood of success has not been established. Consequently, a promising compound often fails to reach even the early clinical testing phase".

"That's where CTx comes in," said chief scientific officer, Dr Ian Street. "We have a unique combination of skills, ranging from independent, expert scientific assessment and validation through to drug development, commercialisation and clinical application. "CTx is now establishing its drug discovery operations in key locations throughout Australia and has already identified a number of exciting projects to initiate its development programs."