The University of Queensland’s capabilities in drug discovery and development are set to be strengthened by a new partnership between and global biotech company Molecule to Medicine (MTM).
The collaboration will align UniQuest’s with MTM to foster the formation of new biotech companies in Brisbane and translate academic research into new medicines.
UniQuest CEO Dr Dean Moss said the collaboration will benefit UQ and the Brisbane biotech start-up space.
“MTM is renowned for bringing together the right people, funding and innovative technologies to create successful biotech companies with the capability to advance new therapies for patients that need them,” Dr Moss said.
“This partnership brings potential treatments a step closer to the clinic, with investment from the UniQuest Extension Fund.”
The fund has invested $1 million in new biotech start-up Lucia Bio, spun-out from UQ’s to develop a potential best-in-class anti-inflammatory treatment.
Lucia Bio is the first new entity to be established as part of MTM’s expansion into Australia.
Dr Moss said the company will initially focus on the potential to treat neuroinflammation in people suffering from degenerative diseases such as Alzheimer’s disease, Parkinson’s disease and motor neurone disease.
“This is an example of the fund delivering on its mandate to foster new technologies from UQ and enable the creation of a new biotech company here in Brisbane,” he said.
MTM chairperson Dr Tom McCarthy said the company had a strong track record of biotech company creation in the UK, and will establish a presence in Brisbane.
“The quality of UQ’s research is recognised internationally and we are keen to build on our relationship with UniQuest by collaborating to advance innovative discoveries and help bridge the translational gap,” Dr McCarthy said.
MTM CEO Kirsty McCarthy said the company was dedicated to building globally connected drug R&D ecosystems that leverage international networks, funding streams and cutting-edge science.
“The culture at MTM fosters innovation to create and scale biotech companies designed to maximise the translation of cutting-edge research into successful clinical development programs,” Ms McCarthy said.
The partnership builds on UniQuest’s long-standing relationship with MTM co-founder Dr McCarthy, who was CEO and president of UQ start-up Spinifex Pharmaceuticals when it was acquired by Novartis for US$200 million in 2015.
Image above left: (L-R) Uniquest/QEDDI’s Dr Brian Dymock, Dr Angela Ko, Dr Dean Moss & Dr Grant Stuchbury with MTM’s Kirsty McCarthy & Dr Tom McCarthy.
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Brooke Baskin
