Phylogica Limited (ASX: PYC) announced today that it had entered into an agreement with Dynamic Microbials Limited (Dynamic), a company based in Perth, to license anti-microbial applications of its proprietary Phylomer! technology.
Based on the results of a technical evaluation, funded by Dynamic, at the Telethon Institute for Child Health Research over the past six months, Phylogica will grant a licence to Dynamic to develop anti-microbial drugs. The initial technical evaluation involved the generation of potent Phylomer! peptides against Acinetobacter Baumanii, a medically important bacteria that is the cause of a number of nosocomial (hospital acquired) infections which has shown antibiotic resistance in an increasing number of cases. Initial proof of concept research identified 10 peptides with significant antibacterial activity.
Dynamic will have exclusive rights to develop anti-microbial drugs for human applications in defined fields (anti-microbial, anti-protozoan and anti-fungal), and non-exclusive rights for human anti-viral applications. In return for licensing these rights, Phylogica will receive a strategic equity position in Dynamic, together with a royalty on direct sales of products and a percentage of commercialisation income.
For further information, please contact: Media Daniella Goldberg +61 2 9237 2803 dgoldberg@bcg.com.au
Phylogica Stewart Washer Chief Executive Officer + 618 9423 8800 / 0418 288 212 stewartw@phylogica.com
Phylogica Ltd (ASX: PYC) (www.phylogica.com) is a drug discovery company utilizing its proprietary Phylomer® technology to develop revolutionary new drugs for stroke, burns injury, and other anti-inflammatory diseases including rheumatoid arthritis and diabetes. The Company is preparing to commercialise its lead drugs through licensing deals. Phylogica was founded by the Telethon Institute for Child Health Research in Perth (www.ichr.uwa.edu.au) and the Fox Chase Cancer Center in Philadelphia, United States (www.fccc.edu).
