Cryptome acquires option for anti-inflammatory

Melbourne-based Cryptome (ASX:CRP) has joined the ranks of Australian biotech companies sourcing potential products from overseas, with the acquisition of an option for an exclusive licence over a novel class of protein-derived anti-inflammatory compounds from the University of Virginia.

The lead compound in the class, CR014, has been shown in vitro to prevent 'vascular leak' -- the leakage of fluid through blood vessel walls, a process implicated in the inflammatory response, and in a number of conditions including Adult Respiratory Distress Syndrome (ARDS), multiple sclerosis, trauma, strokes and heart attacks.

In vivo studies in a mouse model of ARDS have also shown that CR014 is efficacious at preventing ARDS.

Cryptome's acting CEO Prof Mathew Vadas said the option to license the compounds was a terrific opportunity for Cryptome. "It fits well into the types of molecules we are developing," he said, "and it adds to Cryptome's pre-clinical pipeline."

The company expects to begin working on CR014 under a materials transfer agreement in the near future, and Vadas said it was likely that the company would exercise its option to obtain the exclusive US licence for the product sooner rather than later.