14 October 2021 | News
Capital to be raised by investors in Australia, Asia, and USA to fund the manufacture and clinical trials of the COVID-19 Antiviral Triple Therapy (ATT)
Topelia Australia, a biotech company established to commercialize a novel ATT treatment for Australians in quarantine, has launched an investment program designed to keep the invention Australian owned - while rolling out treatment to the world.
The company is raising $25 million from investors in Australia, Asia, and the USA. ATT treatment alongside the current vaccination program to treat and vaccinate is expected to be an effective way to fight the virus.
"The novel Antiviral Triple Therapy, to be branded as Ziverdox, comprises TGA-approved medications prescribed for decades with exceptional safety profiles. COVID-19 will be with us for some time so even vaccinated people with breakthrough Covid-19 infections can benefit from ATT to prevent long-COVID associated lung, brain and organ damage" says Prof Thomas Borody.
Purpose of proposed Series A funding
The investment will finance:
- Preparation of a Literature-Based Submission to the TGA to gain approval;
- Clinical trials to prove efficacy of both treatment and prevention regimens;
- Sourcing of ATT components and manufacture of compliance enhancing packaging;
- Liaison with the TGA for marketing approval including TGA fees, consultant fees, scale-up of manufacturing and distribution costs;
- Following TGA approval, product launch costs for the ATT pack called Ziverdox.