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New Company Starts, Bridging the Development Gap in the Discovery of Cancer Drugs
Date:8/27/2007

stage medicinal chemistry. The scarcity of intellectual and financial capital for this essential part of the drug discovery process between the lab bench and the clinical drug development process is Australia's great funding gap.

"CTx will provide an integrated and coherent pathway for drug discovery, commercialisation and clinical development. Currently, the standard model of drug development can present a frustrating conundrum for medical researchers. The discovery of a new compound, which may well possess the qualities to be transformed into a new drug, requires further substantial investment to properly demonstrate its potential. At this point, research organisations operating on tight budgets and with limited development experience and/or capabilities feel that further investment is beyond their grasp. In addition, pharmaceutical companies are reluctant to take on the development of compounds at a very early stage because their likelihood of success has not been established. Consequently, a promising compound often fails to reach even the early clinical testing phase."

Dr Ian Street, Chief Scientific Officer of CTx, adds, "That's where CTx comes in. We have a unique combination of skills, ranging from independent, expert scientific assessment and validation through to drug development, commercialisation and clinical application. CTx is now establishing its drug discovery operations in key locations throughout Australia and has already identified a number of exciting projects to initiate its development programs."

For more information

Cancer Therapeutics CRC Pty Ltd CEO

Dr Julian Clark Tel: +61-3-9345-2612

e-mail: jclark@wehi.edu.au

Notes to editors:

CTx has created a world-class translational research organisation headquartered at The Walter and Eliza Hall Institute's Biotechnology Centre at Bundoora, in north-eastern Melbourne, Victoria and brings together Australia's fo
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SOURCE Cancer Therapeutics CRC Pty Limited
Copyright©2007 PR Newswire.
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