Navigation Links
Spinifex Receives $1.5m in R&D Tax Incentive for Research Activities Related to the Discovery of Treatments for Pain
Date:3/27/2013

MELBOURNE, Australia, March 27, 2013 /PRNewswire/ --

Spinifex Pharmaceuticals, an Australian pain drug development company, today announces it has received an approximately AUS$1.5 million R&D tax incentives cash refund for research activities relating to the discovery of new drugs for the treatment and management of pain. The R&D Incentive Program is an annual scheme, jointly administered by AusIndustry and the Australian Taxation Office, which enables Spinifex to apply for it in subsequent years.

The funds will be reinvested in further clinical development of the Company's lead candidate, EMA401, an AT2 receptor antagonist for the treatment of chronic pain, including neuropathic pain. Spinifex reported positive results of its Phase 2 study of EMA401 in post-herpetic neuralgia (PHN) in Q3 of last year, and more recently initiated a Phase 2 proof-of-concept study in chemotherapy-induced peripheral neuropathy (CIPN).

The market for neuropathic pain treatments is expected to continue to increase and is projected to reach US$6.2 billion by 2017. Despite being a large and growing market, current therapy for chronic and neuropathic pain needs to be improved as a significant proportion of patients don't respond to current therapy and these treatments have dose-limiting side effects. As a result, EMA401 is being developed as a potential first-in-class oral treatment for chronic pain, including neuropathic pain, without central nervous system side effects.

Spinifex Pharmaceuticals CEO Tom McCarthy said: "This payment under the R&D tax incentive program is a good example of how Government initiatives can support innovative companies in the biotechnology industry and other sectors. These additional funds are welcome and we look forward to their contributing to our continued clinical development of EMA401 for the treatment of chronic and neuropathic pain indications. In addition to this payment, we continue to expand our non-clinical activities with the support of our existing investors."

As described above EMA401 is an AT2 receptor antagonist. The discovery that AT2 receptor antagonists offer an innovative approach to the treatment of neuropathic and inflammatory pain was originally made by Professor Maree Smith at The University of Queensland. Having acquired the technology, Spinifex has conducted a comprehensive pre-clinical and early clinical development program on EMA401. Spinifex continues to conduct research into the role of the AT2 receptor in nociceptive, inflammatory and neuropathic pain states and these fundamental studies support not only the EMA401 clinical program but also Spinifex's ongoing AT2 receptor antagonist drug discovery program.

Spinifex Pharmaceuticals

Spinifex Pharmaceuticals is an Australian biotechnology company developing new drug candidates for the treatment and management of pain.

Established in 2005 and based in Melbourne, Spinifex has applied its world-class drug development capabilities to advance product candidates. Its lead product EMA401 is under development as a potential first-in-class oral treatment for chronic pain, including neuropathic pain, without CNS side effects. Spinifex's Phase 2 program for EMA401 includes clinical trials in a number of neuropathic pain conditions. Spinifex investors are GBS Venture Partners, Brandon Capital Partners, Uniseed and UniQuest.

http://www.spinifexpharma.com.au

For more information please contact:

Company
Dr Tom McCarthy
CEO Spinifex Pharmaceuticals
Tel: +61(0)3-9938-1205
Email: tom.mccarthy@spinifexpharma.com.au

Media
Chris Gardner / Nina Enegren
Citigate Dewe Rogerson
Tel: +44(0)20-7638-9571
Email: nina.enegren@citigatedr.co.uk


'/>"/>
SOURCE Spinifex Pharmaceuticals
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. Iowa Educator Receives DuPont AgriSCIENCE Award for Teaching Excellence
2. APPLIED PHYSIOLOGY® Receives key US Patent Award for its Unique NAVIGATOR™ Technology
3. Physicians for Peace Receives Logo Embroidered Lab Coat Donation from Crooked Brook
4. DiaCarta Inc. Receives CE Mark for QuantiVirus® HPV E6/E7 mRNA Assay
5. Regeneron Pharmaceuticals’ Industrial Operations & Product Supply Site Receives International Recognition for Operational Excellence
6. Lyncean Technologies, Inc. receives $1.1M grant from DOE to develop the Compact Light Source
7. Boulder Canyon Natural Foods Receives Non-GMO Project Verified Seal For Its Kettle-Cooked Chips
8. Bentley Receives $1.3M to Advance the Integration of Science and Business
9. iBio, Inc. Receives Anticipated Notice from NYSE MKT that Company is Below Certain Continued Listing Standards
10. Zyomyx, Inc. Receives ISO 13485: 2003 Certification
11. New Science Fiction Novel Paints Terrifying Picture of Dystopian Future: Young Author Receives Glowing Reviews
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... ... December 01, 2016 , ... The Conference Forum has announced that the ... will take place on February 1-3, 2017 at the Roosevelt Hotel in New York ... program provides a unique 360-degree approach, which addresses the most up-to-date information regarding business ...
(Date:12/2/2016)... ... December 01, 2016 , ... ... client Nanowear on their recent FDA Class II 510(k) clearance for their flagship ... hurdle in commercializing remote cardiac monitoring devices that rely on cloth-based nanosensors. While ...
(Date:12/2/2016)... ... December 02, 2016 , ... Robots will storm the Prudential Center ... 3rd, 2016. The event, which is held on the United Nations International Day of ... Disabilities back into the workplace. Suitable Technologies is partnering with NTI to showcase how ...
(Date:12/2/2016)... The immunohistochemistry (IHC) market is projected to reach USD ... the forecast period of 2016 to 2021 dominated by immunohistochemistry (IHC) ... largest share of immunohistochemistry (IHC) market, by end user.   ... , , ... 225 pages, profiling 10 companies and supported with 181 tables and ...
Breaking Biology Technology:
(Date:6/22/2016)... , June 22, 2016  The American College of ... Trade Show Executive Magazine as one of the fastest-growing ... May 25-27 at the Bellagio in Las Vegas ... the highest percentage of growth in each of the following ... exhibiting companies and number of attendees. The 2015 ACMG Annual ...
(Date:6/22/2016)... , June 22, 2016 On Monday, ... call to industry to share solutions for the Biometric ... U.S. Customs and Border Protection (CBP), explains that CBP ... are departing the United States , ... and to defeat imposters. Logo - ...
(Date:6/20/2016)... DALLAS , June 20, 2016 ... criminal justice technology solutions for public safety, investigation, ... by the prisons involved, it has secured the ... Corrections (DOC) facilities for Managed Access Systems (MAS) ... (4) additional facilities to be installed by October, ...
Breaking Biology News(10 mins):