BioSpace Collaborative

Academic/Biomedical Research
News & Jobs
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

PROFILES
Company Profiles

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Research Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
Get Our Industry eNewsletter FREE email:    
   

Pathway Therapeutics Limited Release: New Zealand First To Benefit From New Trans-Tasman Funding Entity


12/3/2008 2:56:12 PM

Pathway Therapeutics, a New Zealand drug development company, is the first recipient of funding from the Trans Tasman Commercialisation Fund (TTCF).

TTCF is an AUD$30million dollar investment fund designed to help the early-stage commercialisation of intellectual property developed at The University of Auckland and four Australian universities.

“TTCF has made an early stage equity investment of NZ$500,000 in Pathway because it can see the potential health and economic benefits for New Zealanders if this work results in a new cancer treatment,” says Craig Reilly, the Auckland based Investment Manager for TTCF.

Pathway’s current drug development programme focuses on novel therapies developed by research groups led by University of Auckland Professors Bill Denny and Peter Shepherd who are world leaders in the field of cancer therapeutics and cell signalling.

Their work is based on inhibitors of PI3 kinase, an enzyme involved in controlling cell growth and migration, and of particular interest as a potential cancer therapeutic target.

Pathway’s development as a company was supported by Auckland UniServices, the commercialisation arm of The University of Auckland. It was launched in August 2008 having already secured AUD$9.5 million in Series A finance through a syndicate jointly led by CM Capital Investments and GBS Venture Partners of Australia. With the TTCF investment, Pathway has secured a total of AUD10 million to take it’s early stage program to clinical stage over the next few years.

“TTCF is working with two significant offshore-based investors demonstrating that Pathway is an attractive investment, even at this high risk stage, and in an unsteady financial market,” says Mr Reilly.

Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 

//-->