MRCF invests $1.25m in Helmedix to develop autoimmune therapies

Early-stage biopharma Helmedix has received $1.25m of start-up funding from the Medical Research Commercialisation Fund to develop therapies targeting autoimmune diseases.

Early-stage biopharmaceutical company Helmedix has received $1.25 million in start-up funding from the Medical Research Commercialisation Fund to develop its therapies for autoimmune diseases.

Helmedix is drawing on peptides derived from rather icky helminth parasitic worms to develop treatments for diseases such as rheumatoid arthritis, colitis, psoriasis and multiple sclerosis.

The technology comes from University of Technology’s ithree institute research led by Dr Shelia Donnelly.

Donnelly and her team have identified a number of peptides from helminth parasites that appear to modulate the immune system, suppressing the inflammatory response.

These peptides have already shown therapeutic potential in mouse models of type 1 diabetes and have potential application in a wider variety of autoimmune disorders.

The MRCF funding will contribute to lead optimisation and preclinical development of the peptides over the next two years.

Helmedix will also seek further investment or industry partnerships, subject to meeting milestones, in order to move the peptides into clinical development.

“Helmedix is a great example of the type of early-stage opportunity that the MRCF is set up to support,” said Stephen Thompson, Director of Helmedix and Partner at Brandon Capital, which manages the MRCF.

“Its discoveries have broad potential to impact a number of autoimmune diseases and we look forward to working with the team to progress the technology further towards commercial development.”

This is the first investment by MRCF in technology from the ithree institute. Commercialisation of ithree’s technology is managed by UTS’s commercialisation partner UniQuest, which led the effort to attract investment by MRCF into Helmedix.