Queensland life sciences company QBiotics Limited is aiming to once again attract the attention of biotech investors as it seeks to raise $10M to further fund its human cancer trials and progress the R&D of a potential new wound healing product.
Palin Communications is assisting with the media relations.
Based in Yungaburra near Cairns, QBiotics has already identified an active medical compound (EBC-46) from a plant unique to the North Queensland’s rainforest called blushwood. The compound has demonstrated remarkable anti-tumor properties in clinical treatment of cancer in companion animals. QBiotics is now in the process of raising $10 million to fund human anti-cancer trials with this drug and to implement a research program to further evaluate the wound healing potential of a new compound derived from the same plant called WH-1.
QBiotics CEO Dr Victoria Gordon says the company continues to be excited about pursuing the multi-billion dollar human anti-cancer market now that the efficacy of the drug had been proven with a wide range of animal tumors. But the company’s work in wound healing has now opened up a whole new range of possibilities.
Dr Victoria Gordon says EBC-46 shows great anti-tumour results with companion pets
“Some of the wound healing we’ve witnessed so far in pilot studies with pet dogs has been remarkable. These animals had chronic non-healing wounds that weren’t responding to current standard-of-care treatments before being treated with our new compound,” said Dr Gordon. “Based on these extremely encouraging results we are now moving to more fully evaluate the prospect of developing this drug as a treatment for both chronic and acute wounds. Wound healing is a large market ($14 billion annually in the USA alone) where there is significant demand for new and effective products for application in both human and veterinary medicine,” said Dr Gordon.
“Both our anticancer and our wound healing products are very different types of drugs to those currently available for treating these indications. Essentially, they let the patient’s body do the work. They act as signalling molecules which turn on the body’s own immune system to attack the tumour or accelerate the natural wound healing process. These drugs also have the advantage of being easy to administer and cause minimal trauma,” says Dr Gordon.
The research programs will be run in Australia. The capital raising is being managed by their Corporate Finance Manager Reuben Buchanan.
“QBiotics is likely to see a significant increase in value for shareholders if EBC-46 moves successfully through the various phases of human clinical development. And now there is another very exciting element to the story with our work in wound healing,” said Buchanan
QBiotics is issuing a Prospectus for this capital raising, which allows both retail and sophisticated investors to participate. QBiotics will remain an unlisted public company for the time being.
“Raising $10m via a Prospectus for a life science company usually coincides with an ASX listing”, says Buchanan. “But the board of QBiotics feels that remaining unlisted better suits our current stage of development. We already have over $8m in pre-registered interest so we are confident that we can raise the funds required over the next month”.
Investors can apply for shares and download the prospectus at this site: www.qbiotics.com/invest