Australian life sciences and technology venture capital firm, OneVentures, is pleased to announce it will lead a $15 million funding round to advance the development of a promising new treatment for peanut allergy in children, from the Murdoch Childrens Research Institute (MCRI), Australia’s largest child health research institute.
Unlike other peanut allergy treatments in development, this new therapy will allow children with peanut allergy to incorporate peanut and peanut products as a regular part of their diet. The novel action, discovered and developed by MCRI’s Professor Mimi Tang, is in the combination of the two components; peanut allergen together with a specific probiotic which has been shown, in clinical trials, to induce “tolerance” to peanut. This approach has the potential to be used to treat other common food allergies, such as allergies to milk, egg, shellfish and other nuts.
Through the OneVentures Innovation and Growth Fund II, OneVentures will invest $8 million in Probiotic Therapies for Allergy (ProTA), the company established to commercialise the technology in peanut allergy, and explore other indications. The treatment is already attracting the attention of global pharmaceutical companies, and late stage negotiations are underway to secure an additional $7 million from strategic investors and partners of OneVentures.
“Australian research is leading the way with a much needed cure for peanut and other food allergies. This deal embodies exactly what the government’s innovation agenda is about - providing the capital, skills and international expertise to help translate promising Australian developments into commercial products, that address large global needs,” said Dr Paul Kelly, Managing Partner of OneVentures, and head of the LifeSciences team.
“OneVentures will play an active role in bringing ProTA’s treatment to market, and assist with the management of clinical development and navigating the regulatory pathway, and bringing international partners to the table, as it has done with previous investments, including Hatchtech,” Dr Kelly continued.
Food allergy is a significant and growing problem: Food allergy affects approximately 250 million people worldwide. Food allergies have increased 350 per cent over the past 20 years, and peanut allergy has increased at the greatest rate.
Approximately 6 million people across US and Europe are allergic to peanuts, and hospital admissions due to food anaphylaxis continue to increase. Peanut allergy is particularly worrying because it is the most common cause of fatality due to food induced anaphylaxis.
“As one of Australia’s largest medical research institutes, Murdoch Childrens has a rich history of scientific discoveries that have changed the lives and improved the health of children worldwide. This investment will play an important role in progressing development of this promising new treatment for peanut allergy and is a strong indication of the quality of research at Murdoch Childrens,” said Dr James Dromey, General Manager – Business Development & Strategy at MCRI.
In a study completed by MCRI in January 2015, 62 peanut allergic children were either given a dose of a probiotic, Lactobacillus rhamnosus, together with peanut protein in increasing amounts, or a placebo over 18 months to assess whether children would become tolerant to peanut.
82 per cent of children who received the probiotic-peanut therapy were able to tolerate up to 16 peanuts after the treatment had finished compared with four per cent of children who received placebo. A further multi-centre study is underway, across three Australian sites, to see if the therapy can produce a longer term tolerance of up to 12 weeks.
“Based on the results we have seen to date, if nine children were given probiotic and peanut therapy, seven would benefit. This is a very promising result, and we look forward to seeing further evidence from the current trial and progressing the development of this approach so that all children with peanut allergy can access this treatment,” said A/Professor Mimi Tang, lead researcher on this project at MCRI.
Unlike other peanut allergy treatments in development, this new therapy will allow children with peanut allergy to incorporate peanut and peanut products as a regular part of their diet. The novel action, discovered and developed by MCRI’s Professor Mimi Tang, is in the combination of the two components; peanut allergen together with a specific probiotic which has been shown, in clinical trials, to induce “tolerance” to peanut. This approach has the potential to be used to treat other common food allergies, such as allergies to milk, egg, shellfish and other nuts.
Through the OneVentures Innovation and Growth Fund II, OneVentures will invest $8 million in Probiotic Therapies for Allergy (ProTA), the company established to commercialise the technology in peanut allergy, and explore other indications. The treatment is already attracting the attention of global pharmaceutical companies, and late stage negotiations are underway to secure an additional $7 million from strategic investors and partners of OneVentures.
“Australian research is leading the way with a much needed cure for peanut and other food allergies. This deal embodies exactly what the government’s innovation agenda is about - providing the capital, skills and international expertise to help translate promising Australian developments into commercial products, that address large global needs,” said Dr Paul Kelly, Managing Partner of OneVentures, and head of the LifeSciences team.
“OneVentures will play an active role in bringing ProTA’s treatment to market, and assist with the management of clinical development and navigating the regulatory pathway, and bringing international partners to the table, as it has done with previous investments, including Hatchtech,” Dr Kelly continued.
Food allergy is a significant and growing problem: Food allergy affects approximately 250 million people worldwide. Food allergies have increased 350 per cent over the past 20 years, and peanut allergy has increased at the greatest rate.
Approximately 6 million people across US and Europe are allergic to peanuts, and hospital admissions due to food anaphylaxis continue to increase. Peanut allergy is particularly worrying because it is the most common cause of fatality due to food induced anaphylaxis.
“As one of Australia’s largest medical research institutes, Murdoch Childrens has a rich history of scientific discoveries that have changed the lives and improved the health of children worldwide. This investment will play an important role in progressing development of this promising new treatment for peanut allergy and is a strong indication of the quality of research at Murdoch Childrens,” said Dr James Dromey, General Manager – Business Development & Strategy at MCRI.
In a study completed by MCRI in January 2015, 62 peanut allergic children were either given a dose of a probiotic, Lactobacillus rhamnosus, together with peanut protein in increasing amounts, or a placebo over 18 months to assess whether children would become tolerant to peanut.
82 per cent of children who received the probiotic-peanut therapy were able to tolerate up to 16 peanuts after the treatment had finished compared with four per cent of children who received placebo. A further multi-centre study is underway, across three Australian sites, to see if the therapy can produce a longer term tolerance of up to 12 weeks.
“Based on the results we have seen to date, if nine children were given probiotic and peanut therapy, seven would benefit. This is a very promising result, and we look forward to seeing further evidence from the current trial and progressing the development of this approach so that all children with peanut allergy can access this treatment,” said A/Professor Mimi Tang, lead researcher on this project at MCRI.
