EMBARGOED UNTIL 1:00PM AEST Wednesday 9 APRIL 2003
A new international research collaboration signed today will have significant implications in the development of therapeutics for human medicine.
The agreement between New Zealand biotechnology company EndocrinZ and The University of Queensland`s Institute for Molecular Bioscience represents significant value and enables researchers to chase promising research leads in human drug development.
CEO of IMBcom, the commercialisation company of IMB, Dr Peter Isdale said the agreement underlined the huge potential of IMB research in the areas of human health and development of new therapeutics.
"This exciting collaboration illustrates the benefits of forging relationships with the biotechnology industry both in Australia and abroad," Dr Isdale said.
"IMBcom negotiated an agreement with EndocrinZ that will see both organisations sharing the benefits of any marketed outcomes."
"This is a great example of how focussing on great research leads to commercialisation opportunities, the philosophy underpinning both IMB and IMBcom."
EndocrinZ CEO Mr David Clarke said the collaboration between the two parties gave EndocrinZ access to acknowledged research leaders while providing scientists with commercialisation opportunities for their work.
"We believe this collaboration will be extremely beneficial for both parties as well as providing new therapeutic outcomes in the fight against human disease," Mr Clarke said.
EndocrinZ was established in 2002 and is seeking cures for human diseases like diabetes and growth disorders. Last year international pharmaceutical giant Pharmacia invested several million dollars in the firm which has close ties with Auckland University.
UQ Vice Chancellor Professor John Hay said the IMB was one of Australia`s leading research institutes and had contributed to UQ becoming one of the top three research universities in the nation.
"The links between research and a knowledge-based future economy are indisputable and it is extremely gratifying to see IMB making significant contributions in this area while also improving and prolonging human life."
Media for more information contact Russell Griggs (07 3365 1805)
