Servatus poised for major growth amid clinical trials and new production facility plans

A Coolum biomed company is primed for significant long-term growth with several groundbreaking clinical trials under way and major expansion plans in the works.

A Coolum Beach biomed company is aiming to crack open multibillion-dollar markets with several groundbreaking clinical trials including for the treatment of insomnia.

Servatus is poised for major expansion with several clinical trials under way and plans for a new manufacturing facility in the pipeline.

The firm is currently undertaking phase one trials of its treatments for insomnia, rheumatoid arthritis, pylori infection, ulcerative colitis, and phase two trials for chronic idiopathic constipation (IBS-C).

The business aims to develop over the counter prescription and non-prescription drugs from them which have global market values between $492m for IBS-C to more than $38bn for rheumatoid arthritis.

The trials come as the company plans to build a new production site later in the year which would enable them to increase output by four times their current rate.

Servatus partnered with a multinational pharmaceutical organisation to fund the upcoming state-of-the-art facility where both companies will make their products.

Dr Wayne Finlayson (centre) with Nicklin MP Robert Skelton, left, and treasurer Cameron Dick at Servatus.

Servatus CEO Dr Wayne Finlayson said this year marked a giant step forward for the company’s future expansion.

“We are coming to the culmination of our clinical trials, meaning we have to start targeting global markets and partnerships,” Dr Finlayson said.

“In all these clinical trials we need funding as well, so we need to keep up with our competitors overseas mainly in the US and Europe who work in these areas.

“We are also very close to switching on our production systems completely with the Australian Biotherapeutics project which will provide significant revenue for us.”

Servatus was co-founded by Mr Finlayson in 2012 and has experienced a sharp rise in growth over the past couple of years.

The Coolum company was awarded a $922,000 federal government grant in May, 2020 as part of a joint venture with biotechnology research company Australian Biotherapeutics to acquire advanced manufacturing technology to boost productivity for the national market.

Servatus' current facility in Coolum Beach established in 2020.

The business started its most recent trial for insomnia in March at Prince of Charles Hospital in Brisbane with 50 patients and will commence a sixth trial for another condition in June.

Along with therapeutics, Servatus also produces general consumer medications which target bloating and constipation among other health issues.

The company went from two staff in 2012 to about eight by 2016 and now has a team of more than 35.

In late-April this year, the company appointed Dr Uwe Buecheler from pharmaceutical giant Boehringer Ingelheim as a board member who will play a key role in driving Servatus’ international expansion plans.

Dr Finlayson said they were looking at a licensing model and partnerships with multinational pharmaceutical companies for the distribution of their drugs.

He said they are also considering listing on the ASX further down the track.

“We’re trying to develop safe and effective treatments for these conditions, but from a commercial point of view we’d like to partner with bigger pharmaceutical companies,” Dr Finlayson said

“In three to five years we’d be hoping to be near completion of clinical trials and can see us doubling in size by that time, we could have up to 100 staff then.”