Helmedix Pty, a biotech spin out using technology first developed at the University of Technology, Sydney’s biotech research unit ithree institute, has launched with a $1.29m investment from Australia’s Medical Research Commercialisation Fund (MRCF).
The Australia-based spin-out will use the funding to develop therapeutic peptide drugs for preventing and treating immunological diseases which currently affect millions worldwide.
UTS’ research commercialisation partner UniQuest negotiated the licensing deal.
“Bringing together the MRCF and the ithree institute to launch Helmedix is an excellent example of university research and industry sector collaboration which will translate into benefits for the wider community,” said UniQuest acting chief executive officer Dean Moss.
He added: “This is the first major start-up investment UniQuest has facilitated for the ithree institute, and our second with the MRCF in the past 12 months.”
