Major boost for rheumatoid arthritis drug development

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Public release date: 26-Oct-2005

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Contact: Chester

61-409-988-530

Research Australia

Major boost for rheumatoid arthritis drug development

The first spin-out company from Perth's Telethon Institute for Child

Health Research has achieved national recognition with a prestigious

AusIndustry grant worth $2.27 million.

The funding to Phylogica reflects the exciting potential of the new

drug technology being developed by the company, which was listed on

the Australian Stock Exchange in March.

Institute Director, Professor Fiona Stanley, said the grant reflects

the quality and novelty of the science behind the new drug delivery

platform. " This is a great endorsement of the scientific excellence

that underpins Phylogica, " Professor Stanley said.

" Our aim is always to see our research translated into real benefits

to the community and the grant will certainly accelerate the path to

commercialisation. "

Phylogica's Phylomer® technology is an alternative to conventional

antibody-based therapies and can be manufactured at a much lower

cost. The AusIndustry funding will be used to progress promising

drugs for Rheumatoid Arthritis to clinical trial.

Phylomers® are stable fragments of naturally-occurring proteins with

the ability to bind tightly to target proteins and inactivate them as

a result. Phylomers® can be selected for activity against specific

disease target proteins.

" While Rheumatoid Arthritis will be the first disease area targeted,

we're hopeful that the Phylomer® technology will provide new

therapies for a wide range of diseases including asthma and type two

diabetes, " Professor Stanley said.

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Media contact:

Chester

+61 409 988 530 (mobile)

Telethon Institute for Child Health Research

www.ichr.uwa.edu.au

http://www.eurekalert.org/pub_releases/2005-10/ra-mbf102605.php