Queensland's Xenome files IND for painkiller
Thursday, 22 April, 2004
Xenome -- 25 per cent owned by Medica Holdings (ASX:MCA) -- has filed an investigational new drug (IND) application with the US Food and Drug Administration for its Xen2174 cancer painkiller, which is derived from cone shell venom.
In animal models, Xen2174 has proved a more potent painkiller than morphine. It is a synthetic peptide which inhibits the transport of noradrenaline, a nerve transmitter which amplifies messages between nerve cells, blocking pain transmission. The cone shell venom on which Xen2174 is based is native to Queensland's Great Barrier Reef.
If the IND application is successful, Xenome plans to begin Phase I clinical trials in both Australia and the US in June to test the safety and tolerability of Xen2174.
Xenome's CEO Dr Tony Evans said that the IND filing would trigger a second milestone payment of $2 million from the Queensland BioCapital Fund, bringing the total funds QBF has invested in Xenome to $6 million.
Other Xenome investors include listed investment company Biotech Capital (ASX:BTC) and University of Queensland commercialisation vehicle, UniQuest.
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