Pharmaxis Awarded $1m Australian Government Funding to Progress Duchenne Muscular Dystrophy Drug into the Clinic
Release Date: 03/09/2020 8:25am
Pharmaceutical research company Pharmaxis Ltd today announced it has been awarded $1 million funding from the Biomedical Translation Bridge (BTB) program to significantly advance work on the company’s drug discovery for the treatment of the devastating genetic disorder Duchenne Muscular Dystrophy (DMD).
Pharmaxis was selected following a highly competitive review conducted by an independent expert evaluation committee as part of the BTB program, which is administered by MTPConnect. The Australian government matched funding will allow the company to take another one of its pipeline of amine oxidase inhibitors (PXS-4699) through to the commencement of human clinical trials. A planned comprehensive program of pre-clinical studies will build on the pioneering work already conducted on Pharmaxis compounds by independent international researchers focused on Duchenne Muscular Dystrophy. PXS-4699 is a dual amine oxidase inhibitor which is expected to protect muscle and reduce inflammation as well as organ fibrosis in DMD. It is hoped this could result in better daily functioning for patients, improved quality of life and longer life expectancy.
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