Dr Tom McCarthy

Queensland biotech tops up $1 million Seed round with another $2m

Queensland drug developer Lucia Bio added $2 million to its seed round from UniQuest Extension Fund and Uniseed-managed funds, bringing its overall raise to $3 million ahead of a planned Series A.

UQ biotech innovation partnership forges a second startup

UniQuest and Molecule to Medicine have formed Curlew Bio to develop anti-inflammatory drugs, backed by $1 million from UniQuest's Extension Fund; the article also recalls Novartis's 2015 purchase of Spinifex Pharmaceuticals.

Pathios Therapeutics Announces Dosing of First Patient in Phase 1/2 Clinical Study of GPR65 Inhibitor, PTT-4256 in Patients with Advanced Solid Cancers

Pathios Therapeutics has begun treating patients in an Australian Phase 1/2 trial of its GPR65 inhibitor PTT-4256 for advanced solid tumours. Backers to date include Canaan, Brandon Capital and Bristol Myers Squibb.

Pathios Therapeutics Announces Dosing of First Patient in Phase 1/2 Clinical Study of GPR65 Inhibitor, PTT-4256 in Patients with Advanced Solid Cancers

Pathios Therapeutics has dosed the first patient in a Phase 1/2 trial of its GPR65 inhibitor PTT-4256, run by its Australian team; the company also cites US$58M raised to date.

Fifteen ANZ startups that raised $81 million this week

Round-up reporting Neara's $45 million Series C, Alimetry's US$18 million Series A2, Earthodic's US$4 million seed, and Antler's latest residency intake of startups each receiving $225,000 for 12% stakes.

Also Startup Daily

Pathios Therapeutics Raises $25M in First Close of Series B Financing to Advance First-in-Class Immunotherapy Approach into Clinic

Cancer immunotherapy biotech Pathios Therapeutics has completed the initial tranche of a Series B round, bringing in Bristol Myers Squibb as a new strategic backer alongside prior backers Canaan and Brandon Capital.

Australian pain drug innovation company Spinifex Pharmaceuticals sold to Novartis for US$200m plus milestone payments

GBS Ventures reports Novartis has agreed to acquire chronic-pain drug developer Spinifex Pharmaceuticals for US$200 million upfront plus milestones, recalling the company's 2005, 2008 and 2014 venture rounds and its Australian investors.

Also GBS Ventures·novartis.com·clinicalleader.com·Startup Daily·Startup Daily·anthillonline.com·@AuManufacturing·materresearch.org.au·Business News Australia

Spinifex Pharmaceuticals to be Acquired by Novartis - PR Newswire

Chronic-pain drug developer Spinifex Pharmaceuticals has agreed to be bought by Novartis for US$200 million upfront plus undisclosed milestones, centred on its lead candidate EMA401.

Also news-medical.net·bionity.com

Spinifex Pharmaceuticals Appoints Neuroscience Expert Dr Ronald Marcus as Chief Medical Officer

Pain-drug developer Spinifex Pharmaceuticals hires Dr Ronald Marcus as chief medical officer; CEO Tom McCarthy cites a recent $45 million raise backing further phase 2 trials of EMA401.

EP Vantage Interview – Spinifex seeking to heal the pain with new approach

Profile of Australian biotech Spinifex Pharmaceuticals and its neuropathic pain drug EMA401, covering phase II trials, the science behind its AT2 approach, and its venture backers as it weighs a future series C.