Griffith University’s Institute for Glycomics has partnered with Hong Kong listed China Grand Pharma’s newly established Australian company Grand Medical Ltd to develop a new drug for Human Parainfluenza Virus.
Human parainfluenza virus (hPIV) commonly causes upper and lower respiratory illnesses in infants, young children, the elderly, and people with weakened immune systems, including transplant patients, however anyone can get infected. Respiratory tract infections remain the deadliest communicable diseases worldwide, causing more than 3.2 million deaths in 2015 alone.
Currently there is no therapeutic available to specifically treat hPIV infection, with the potential for the Institute’s new drug to be a global block-buster.
Biggest deal of its kind for an Australian University
“This multimillion-dollar agreement represents Australia’s largest preclinical stage university engagement with Pharma to discover a novel antiviral drug and reflects our strong scientific team and IP portfolio”.
Dr Chris Davis, General Manager, Institute for Glycomics
The deal comprises significant upfront Research & Development and licence fees plus development and sales milestone fees with a tiered royalty on product sales.
China Grand Pharma has made major investments in several international companies including an Australian company Sirtex Medical Pty Ltd, German company Cardionovum GmbH and Canadian company Conavi Medical Inc.