Cancer start-up receives US$16m funding
QUE Oncology, a clinical-stage biotechnology company established by The University of Queensland and Emory University (Atlanta, USA), has received US$16 (AU$20.99) million in series A investment.
The investment from the Brandon Capital-managed Medical Research Commercialisation Fund (MRCF) and Uniseed will enable the company to further develop novel cancer supportive care and anticancer therapies.
QUE’s Q-122 is a new non-hormonal therapy for the treatment of hot flushes in women undergoing endocrine therapy for breast cancers. QUE was founded in 2013 in a collaboration between UQ’s main commercialisation company, UniQuest, and Emory University around intellectual property licensed from UQ and Emory University, with both parties providing seed investment and support.
“UQ and Emory share many research synergies, particularly in the development of treatments for cancer, and we are proud that we have been able to work together to facilitate this landmark investment,” said UQ Vice-Chancellor and President Professor Peter Høj.
UniQuest CEO Dr Dean Moss said the series A investment was a significant endorsement of the prospects of the company and its programs. “QUE recently completed a successful phase 1b clinical trial of Q-122 where, in some cases, participants reported a 100% reduction in hot flash incidents,” Dr Moss said.
“This investment will support the company as it continues to navigate the clinical trial and regulatory processes required to bring this life-changing treatment to the market. QUE is also progressing three preclinical projects licensed from UQ researchers Professor Maree Smith, Dr Trent Woodruff, Professor Greg Monteith and Professor Sarah Roberts-Thomson, and collaborator Professor William Denny from the University of Auckland, in the areas of breast cancer, melanoma and cancer pain.
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