A biotech start-up backed by some of Australia's most prominent businessmen has won a US grant that will be used to run clinical trials for a drug candidate aiming to help curb the opioid crisis gripping the nation.
The family offices of ex-Macquarie big wigs Allan Moss and Michael Carapiet, former Toll Holdings CEO Paul Little and AustralianSuper director Jim Craig are among the 20-odd investors in Kinoxis Therapeutics – which is hopeful of developing pharmaceuticals to manage cravings for drugs through management of the brain’s oxytocin system.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
