Peplin Biotech acquires omega-3 portfolio

Brisbane-based Peplin Biotech has acquired a portfolio of synthetic engineered polyunsaturated fatty acid compounds from researchers at Adelaide's Women's and Children's Hospital in a deal worth AUD$225,000 plus shares and options worth around $350,000.

The portfolio, developed by the hospital's Tony Ferrante and Alfred Poulos, includes 44 novel compounds and 41 patent filings, comprising seven patent families, and including five granted US patents covering molecular structures and their use as human therapeutics.

According to Peplin CEO Michael Aldridge, the compounds are selective and potent versions of natural omega-3 fatty acids -- compounds found in fish and other oils which have been strongly linked to health benefits.

But the natural omega-3 fatty acids are not protected by patents, and there are problems with delivering an effective dose without side effects, and so to date, they haven't been developed for therapeutic use.

In contrast, Aldridge said, the synthetic compounds are novel patent-protected single compound products active across a wide range of diseases.

"There is strong research supporting their potential as therapeutic candidates," he said.

"The plan is... we will evaluate them and decide which would be the most appropriate to take into commercial development."

Aldridge said he expected 1-3 compounds would be chosen for further development, in a research program that would involve Ferrante and other collaborators.

The agreement with the WCH includes provision of milestone payments payable as shares if the products are developed and commercialised by Peplin.