Progen Pharmaceuticals Limited (PGL) announced that it has entered into a Diabetes Collaboration Framework Deed with the Australian National University (ANU) and ANU Enterprise Pty Limited. ANU researchers have developed intellectual property for a new therapeutic approach for the treat ment of type 1 diabetes with potential application in type 2 diabetes. The collaboration strategically builds on the relationship between ANU and Progen to progress the commercialisation of the new therapy. ANU will commercialise the intellectual property by establishing a new company focused on the commercial development of new diabetes therapeutics. Progen will formally collaborate with the ANU, hold a small stake in the new company, consult with the ANU through an R&D Management Group and provide research and development services as and when required on a fee for service basis with the new company.
Prof. Parish, who leads the Cancer and Vascular Biology Group at the John Curtin School of Medical Research, said that: “Type 1 diabetes is an autoimmune disease in which the insulin-producing beta cells of pancreatic islets are destroyed. Our research has led to a new understanding of how pancreatic islet cells including beta cells are protected from metabolic stress and autoimmune attack in type 1 diabetes. It also has implications for understanding similar mechanisms in type 2 diabetes. Ba sed on this novel discovery we have established a therapeutic approach that attenuates the progression of type 1 diabetes.
Progen Pharmaceuticals Limited is a biotechnology company committed to the discovery, development and commercialization of small molecule pharmaceuticals primarily for the treatment of cancer. Progen’s core focus is development of its anti-angiogenesis and anti-metastatic oncology products pipeline.