Xenome nets $3.2m grant

Queensland company Xenome has received a AUD$3.2 million R&D Start grant from the Federal government to accelerate the development of its lead chronic pain drug, Xen2174 into early clinical trials.

The unlisted company is in the process of completing the pre-clinical studies for the drug, and plans to file an IND application early next year. Phase I studies are expected to begin in the second quarter of 2004, according to head of research Dr Roger Drinkwater, with Phase IIa studies likely to commence before the end of next year if all goes to plan.

Xenome is also planning further proof of efficacy studies with Wake Forest University School of Medicine spinal pain researcher Prof Jim Eisenach, in a bid to extend the range of pain applications for which Xen2174 can be used.

Eisenach said the drug might avoid side-effects that limit the use of other analgesics acting on the noradrenergic pathway.

Matching funds required for the grant will come from the $6 million investment in the company made earlier this year by Queensland BioCapital Fund.