Updated on 14 February 2013
Helmedix, an early-stage biopharma company based on the intellectual property of the University of Technology Sydney's ithree institute, is launched with funding from Australia's Medical Research Commercialization Fund (MRCF)
Singapore: Helmedix, an early stage biopharma company developing novel therapies for autoimmune and inflammatory diseases, has been launched on February 14, 2013. The firm received start-up financing from Australia's Medical Research Commercialization Fund (MRCF).
Based on intellectual property from the University of Technology Sydney's ithree institute, Helmedix will develop therapeutic peptide drugs for the prevention and treatment of autoimmune diseases.
The ithree institute's research team led by Dr Sheila Donnelly has identified a number of immune modulating peptides derived from helminth parasites, one-of-which is effective in suppressing the inflammatory response of the host and has shown therapeutic potential in a mouse model of type 1 diabetes. The immune modulating activity of these peptides indicates potential broader application in a variety other autoimmune diseases.
The MRCF has committed $1.29 million (A$1.25 million) to progress lead optimization and pre-clinical development of the immune modulating peptides over the next two years. Subject to meeting milestones, Helmedix will seek further investment or industry partnerships to move the helminth-derived peptides through clinical development as a treatment for autoimmune and inflammatory diseases. This is the first investment by MRCF in technology emerging from the ithree institute. The institute was launched in 2010 and joined the MRCF in 2011. Commercialization of ithree's technology is managed by UTS's commercialisation partner UniQuest, who led the effort to attract investment by MRCF into Helmedix.
Commenting on the new company, Mr Stephen Thompson, director of Helmedix and partner at Brandon Capital, the venture capital firm that manages the MRCF, said "Helmedix is a great example of the type of early stage opportunity that the MRCF is set up to support. Its discoveries have broad potential to impact a number of autoimmune diseases and we look forward to working with the team to progress the technology further towards commercial development."