AsianScientist (Oct. 18, 2013) – The University of Melbourne has signed an agreement with Procypra Therapeutics LLC, a US-based company, to develop a class of drugs for treating neurological diseases such as Parkinson’s disease.
Three professors, who led a research project at the University of Melbourne and the Florey Institute of Neuroscience and Mental Health, found that a class of synthetic compounds called copper bis (thiosemicarbazones) can potentially treat Parkinson’s disease and other neurodegenerative diseases such as motor neuron disease.
Professor Frances Separovic, Head of the School of Chemistry at the University of Melbourne, welcomed Procypra adopting the University’s multidisciplinary approach to develop a treatment for the disease.
“This agreement reflects the desire for innovative research at the University of Melbourne to be translated into impact and recognizes the importance of working with academic collaborators, like the Florey Institute of Neuroscience and Mental Health and industry partners to achieve this goal,” she said.
Under the arrangement, the University will receive payments from the sale of products by Procypra. The Company anticipates that first-in-human clinical trials will commence within three years.
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Source: University of Melbourne.
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