Helmedix, a Melbourne, Australia-based early stage biopharmaceutical company developing novel therapies for autoimmune and inflammatory diseases, received AU$1.25m in funding.
The backer was the Australia’s Medical Research Commercialisation Fund (MRCF), which is managed by vc firm Brandon Capital.
The company intends to use the capital to progress lead optimization and pre-clinical development of its immune modulating peptides over the next two years. Subject to meeting milestones, Helmedix will seek further investment or industry partnerships to move the helminth-derived peptides through clinical development as a treatment for autoimmune and inflammatory diseases.
Based on intellectual property from the University of Technology Sydney (UTS)’s ithree institute, and led by Stephen Thompson, Director and Partner at Brandon Capital, Helmedix will develop therapeutic peptide drugs for the prevention and treatment of autoimmune diseases, such as rheumatoid arthritis, colitis, psoriasis and multiple sclerosis.