Cryptopharma nets $1.5m Start grant
Tuesday, 07 September, 2004
University of Melbourne spin-off Cryptopharma has been awarded a AUD$1.5 million R&D Start grant to support its respiratory therapeutics program.
CEO and co-founder Assoc Prof Alistair Stewart said the funding would support preclinical development including proof of concept studies and toxicology. "Cryptopharma aims to be at the stage of filing an IND for Phase I clinical trials by the end of the grant," Stewart said.
The company has a number of unique molecules with demonstrated activity in mouse models of asthma and pulmonary fibrosis, and is working to improve its lead candidates. Further proof of concept is expected to come from in vitro studies using a variety of human cell lines.
"We're exploring structure-activity relationships amongst our compounds and anticipate that in 8-12 months we'll have a candidate selected for toxicology studies," Stewart said.
Earlier this year, a consortium of investors including GBS Venture Partners, Biocomm and Uniseed invested $2 million into the company.
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