QBF ups Glycoz investment
Friday, 14 January, 2005
Queensland BioCapital Funds has invested a further $1.9 million in antibiotic-developer Glycoz, bringing its total stake in the company to $2.4 million
Glycoz is developing carbohydrate-based antibiotics based on research by Professors Mark von Itzstein and Ross Coppel.
The funding, in conjunction with a $1.8 million R&D Start Grant, will be used to take the company's lead compound through pre-clinical drug development.
QBF -- a $100 million closed end venture capital fund -- is a wholly-owned subsidiary of the Queensland Investment Corporation. It recently increased its holding in Brisbane unlisted biotech Xenome, taking up shares sold by Biotech Capital (ASX:BTC) and Cytopia (ASX:CTY).
In December, QIC's Neill Colledge replaced Kathryn Radford as CEO of QBF.
Cancer drug enters clinical trials based on a false mechanism
A cancer drug currently being tested in patients appears to have entered clinical trials based on...
Russia insists there is "no plague case" following lab worker death
Russian health authorities say there is no evidence that pneumonic plague played a part in the...
Scientists 'reprogram' tumour-supporting immune cells
The approach, by an Australian team, uses lipid nanoparticles to target a type of immune cell...
