UQ biotech company wins $63m grant
University of Queensland biotech company Inflazome has landed an investment of $63 million to conduct a new round of clinical trials.
University of Queensland biotech company Inflazome has landed an investment of $63 million to conduct a new round of clinical trials.
Inflazome, launched in 2016, uses research from the University of Queensland and Trinity College Dublin that discovered a molecule that inhibits an inflammatory response associated with Alzheimer’s, Parkinson’s, inflammatory bowel disease, gout, osteoarthritis, liver, kidney and cardiovascular diseases.
UQ vice-chancellor Peter Hoj said the $63m investment — a series B round — was the highest follow-on capital raised by any of the university’s start-up companies. He said it brought the total capital raised by UQ’s start-up portfolio to more than $700m.
The company’s intellectual property was licensed by UQ’s commercialisation company UniQuest. Matt Cooper, from UQ’s Institute for Molecular Bioscience, is chief executive.
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