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Phylogica enters anti-microbial field |
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25 Aug 2007 |
Phylogica Limited announced today that it had entered into an agreement with Dynamic Microbials Limited (Dynamic) to license anti-microbial applications of its proprietary Phylomer technology
PERTH, Australia | August 24, 2007 | Phylogica Limited (ASX: PYC) announced today that it had entered into an agreement with Dynamic Microbials Limited (Dynamic), a company based in Perth, to license anti-microbial applications of its proprietary Phylomer technology.
Based on the results of a technical evaluation, funded by Dynamic, at theTelethon Institute for Child Health Research over the past six months, Phylogica will grant a licence to Dynamic to develop anti-microbial drugs. The initial technical evaluation involved the generation of potent Phylomer peptides against Acinetobacter Baumanii, a medically important bacteria that is the cause of a number of nosocomial (hospital acquired) infections which has shown antibiotic resistance in an increasing number of cases.
Initial proof of concept research identified 10 peptides with significant antibacterial activity.
Dynamic will have exclusive rights to develop anti-microbial drugs for human applications in defined fields (anti-microbial, anti-protozoan and anti-fungal), and non-exclusive rights for human anti-viral applications. In return for licensing these rights, Phylogica will receive a strategic equity position in Dynamic, together with a royalty on direct sales of products and a percentage
of commercialisation income.
About Phylogica Ltd
Phylogica (ASX: PYC)(www.phylogica.com) is a drug discovery company utilizing its proprietary Phylomer® technology to develop revolutionary new drugs for stroke, burns injury, and other anti-inflammatory diseases including rheumatoid arthritis and diabetes. The Company is preparing to commercialise its lead drugs through licensing deals. Phylogica was founded by the Telethon Institute for Child Health Research in Perth (www.ichr.uwa.edu.au) and the Fox Chase Cancer Center in Philadelphia, United States (www.fccc.edu).
About Phylomer® peptides
Phylomer® peptides are stable fragments of naturally-occurring proteins with the ability to bind tightly to target proteins and inactivate them as a result. Phylomer® peptides can be selected for activity against specific disease target proteins. The properties of Phylomer® peptides make them attractive as cost-effective alternatives to antibodies a proven multi-billion drug class. Phylogica's proprietary Phylomer® libraries are collections of millions of Phylomer® peptides that represent a source of drug leads which can be used for multiple diseases.
SOURCE: PHYLOGICA
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