World Class MS Research Center Opened

LATEST AUSTRALIAN BUSINESS NEWS

A state-of-the-art research facility housing some of Australia’s most promising multiple sclerosis R&D has been officially opened in Brisbane today.

The new headquarters of growing biopharmaceutical company CBio (an innovative Australian company turning quality academic research into promising therapeutic products) will accommodate an expanding research team developing world-leading treatments for autoimmune and inflammatory diseases.

In April 2005 CBio was one of eight Australian companies to receive funding as part of the government’s $150 million Pharmaceutical Partnerships Program. The company is set to commercialises its world-class R&D in Australia, and will be recruiting new staff for the task. CBio will use its government funding to support pre-clinical and clinical trials of its Cpn10 treatment for autoimmune and inflammatory diseases.

Cpn10 is expected to have fewer side effects than current drugs on the market and so has the potential to dramatically improve the quality of life for sufferers of diseases like multiple sclerosis and rheumatoid arthritis. The treatment, if proven successful, will build on Australia’s global reputation as world-class pharmaceutical innovator.

Despite the fact that Australia has less than 1 per cent of the world’s population, it is home to almost 3 per cent of the world’s health R&D.

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David

editor@agarcarlyon.com