New Australian cancer drug advances towards human trials

Queensland biotech QBiotics announced at the weekend it is seeking to raise $10 million to fund Phase 1 human trials of its EBC-46 anti-cancerdrug.

The drug was discovered in the seeds of the blushwood rainforest tree, growing only on North Queensland, and has been shown to be effective in treating solid cancer tumours in over 100 animals including cats, dogs and horses, without side effects.

QBiotics CEO Dr Victoria Gordon said that the move towards human clinical trials was an important milestone for the company.

“EBC-46 has shown real world proof of concept in animal trials and the time is right to raise the necessary capital to commence human development,” she said.

EBC works differently from most current chemotherapy agents and is not toxic to cells, working instead like a signalling molecule which turns on the body’s immune system to attack the tumor, the company said. The drug will be targetted especially at skin, head, neck, breast and prostate cancers.

QBiotics said it expects to drug to generate strong revenues in both the human and animal cancer markets once it is developed, especially in the U.S where the company is focussing on gaining FDA approval.

QBiotics is a public unlisted company and stresses that the current offer is not an IPO, rather it is an offer information statement. Further details can be found at: http://www.qbiotics.com/.