Spun out of Queensland and Emory universities, the biotech developer has secured capital from Uniseed and the Medical Research Commercialisation Fund.
Que Oncology, a biotechnology producer based on research conducted at University of Queensland and Emory University, secured $16m in a series A round yesterday from backers including commercialisation firm Uniseed.
The Medical Research Commercialisation Fund also participated in the round. The fund, backed by Australia’s government and several domestic pension funds, focuses on the commercialisation and early-stage development of technologies emerging from Australian medical research institutes and affiliated research hospitals.
Founded in 2013, Que Oncology is working on a range of cancer treatments and supportive care. The spinout was established through University of Queensland’s tech transfer office UniQuest.
The money will support the further development of Que’s lead drug candidate Q-122 and the advancement of the preclinical pipeline.
Q-122 is a non-hormonal treatment aimed at hot flashes in women who are undergoing endocrine therapy for breast cancers.
The spinout’s preclinical pipeline includes projects licensed from Queensland researchers Maree Smith, Trent Woodruff, Greg Monteith and Sarah Roberts-Thomson, in collaboration with William Denny from University of Auckland. The pipeline is focused on areas including breast cancer, melanoma and cancer pain.
UniQuest and Emory University previously provided seed funding at the time of Que’s formation.
Dean Moss, chief executive of UniQuest, said: “Que recently completed a successful phase 1b clinical trial of Q-122 where, in some cases, participants reported a 100% reduction in hot flash incidents.
“This investment will support the company as it continues to navigate the clinical trial and regulatory processes required to bring this life-changing treatment to the market. It could make a real difference to many women around the world.”
