Leading the Way in Life Science Technologies

GEN Exclusives

More »

GEN News Highlights

More »
Feb 9, 2009

Australian Start-Up Raises $3M

  • Fibrotech Therapeutics, a University of Melbourne spin-out, secured $3 million in investment funding to advance development of its lead fibrosis drug, FT011, to completion of Phase Ib trials.

    The company is developing drug candidates to treat the fibrosis prevalent in chronic conditions such as kidney disease, heart failure, pulmonary fibrosis, and arthritis. Its compounds are analogs of tranilast (Rizaben®), an antifibrotic agent that is off patent.

    Fibrotech Therapeutics was formed by Darren Kelly of the department of medicine, University of Melbourne and St. Vincent’s Hospital, with the support of Melbourne Ventures, the technology transfer company for the University of Melbourne.

    The funding is a Series A funding round from the Medical Research Commercialisation Fund, BBF1 IIF (both managed by Brandon Capital Partners) and Uniseed.



Related content

Be sure to take the GEN Poll

Scientifically Studying Ecstasy

MDMA (commonly known as the empathogen “ecstasy”) is classified as a Schedule 1 drug, which is reserved for compounds with no accepted medical use and a high abuse potential. Two researchers from Stanford, however, call for a rigorous scientific exploration of MDMA's effects to identify precisely how the drug works, the data from which could be used to develop therapeutic compounds.

Do you agree that ecstasy should be studied for its potential therapeutic benefits?

More »