Updated on 5 October 2012
Challenges and future plans
Major challenges of the firm have been associated with the technical aspects of bringing a new chemical entity through a comprehensive preclinical and clinical program. This has been addressed by seeking out expert individuals and organisations with experience in the relevant areas. The other key challenge has been commercial, associated with raising sufficient capital to enable the R&D program to be undertaken.
Dr Vern Bowles, CSO; Hatchtech, said that, "The issue of funding has been addressed by attracting sophisticated investors into the company and also through attracting additional funding as provided by the Commonwealth Government through the ARC and through various AusIndustry programs."
Future plans of Hatchtech are to realize the investment from the head lice business. The company plans to achieve this by using a number of mechanisms including a trade sale, a licensing arrangement of the technology to a third party, or building a sales and marketing enterprise. Moreover, Hatchtech is also interested in using its technology to explore other human parasites such as scabies and several other possible veterinary applications in the future.