Medical cannabis biotech Botanix just did a deal with the University of Queensland
Health & Biotech
Health & Biotech
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Biotech Botanix Pharma will work with the University of Queensland’s Institute for Molecular Bioscience to develop a skin infection treatment based on medical cannabis.
Coupled with an AusIndustry Innovation Connection Grant program, the deal will accelerate the development of BTX 1801, an antimicrobial with the potential to treat serious skin infections resistant to antibiotics.
The stock (ASX:BOT) gained 5 per cent to 10.5c after the announcement but cooled back to 10c.
In the US, more than three million patients are hospitalised each year with serious skin infections.
Pre-clinical testing indicated Botanix’s treatment achieves close to 100 per cent bacteria killing effect of antibiotic resistant strains of the most common skin infection bacteria.
“Antibiotic resistance is a significant global concern and we are excited about the potential prospects of BTX 1801 in this field,” says Dr Mark Blaskovich, program co-ordinator at the Institute for Molecular Bioscience.
“The partnership is also testament to the university engaging with industry to embed research discovery into the problem-solving process, so together we can bring solutions to market more quickly and with greater impact.”
The Perth-based company is also developing acne and other dermatitis products.
Botanix in February raised $15 million in equity from more than 15 new institutional investors to develop an acne treatment.
Early studies show Botanix’s treatment for acne, BTX 1503, “very effective” at reducing inflammation.