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Spinifex Closes AU$18.25M(~US$19M) Expanded Series B Round
Date:8/23/2011

MELBOURNE, Australia, August 23, 2011 /PRNewswire/ --


Additional Funds to Broaden Phase  2 Program for New Pain Drug

  • AU$6.25M (~US$6.5M) investment by GBS Venture Partners, Brandon Capital, Uniseed and UniQuest completes round
  • Two additional Phase 2 studies will run in parallel with planned clinical trial in postherpetic neuralgia patients

Spinifex Pharmaceuticals, an Australian pain drug development company, today announced it has secured a further AU$6.25 million of venture capital investment from GBS Venture Partners Limited, Brandon Capital Partners Pty Limited, Uniseed Management Pty Limited and UniQuest Pty Limited to fund the development of its pain management drug, EMA401.

This expanded Series B funding builds on a previously announced AU$12 million investment from the same syndicate and will be used in part to expand the Phase 2 clinical trial program for EMA401 to a further two indications, specifically;

  • The treatment of pain and hypersensitivity in peripheral nerve injury patients.
  • The treatment of pain and hypersensitivity in cancer chemotherapy patients.

These new clinical trials are a translation into clinical research of the results from Spinifex's ongoing collaboration with Prof. Praveen Anand (Professor of Clinical Neurology at Imperial College London's Hammersmith Hospital) and his research laboratory.

The studies will run alongside a soon to be initiated Phase 2 clinical trial of EMA401 in postherpetic neuralgia, a painful condition that develops in some patients following herpes zoster (shingles) and where existing therapy does not relieve pain in all individuals.

EMA401 is an angiotensin II type 2 (AT2) receptor antagonist. The discovery that this class of molecules offers an innovat
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SOURCE Spinifex Pharmaceuticals
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