Australia - UniQuest and Axiom Molecular sign radiopharma strategic alliance

UniQuest, The University of Queensland’s (UQ) main commercialisation company, has announced a A$4.3 million strategic alliance with Axiom Molecular Pty Ltd in radiopharmaceutical research, development and commercialisation.

The Centre for Advanced Imaging (CAI) at UQ will allow Axiom Molecular to use its facilities to produce Positron Emission Tomography (PET) radiopharmaceuticals for diagnosing cancer and brain disorders.

Axiom Molecular has also made an equity investment in MoleQular Pty Ltd, a start-up company formed with UniQuest, to research, develop and commercialise novel radiopharmaceuticals.

UniQuest Managing Director, David Henderson, the agreement was the first of its kind for both UQ and Axiom Molecular, a subsidiary of one of Asia-Pacific’s largest healthcare enterprises.

“It’s a multi-faceted agreement that will advance the scientific and commercial objectives of all stakeholders,” Mr Henderson said.

“Axiom Molecular will use CAI facilities to produce radiopharmaceuticals to international standards, predominantly 18-Fludeoxyglucose (FDG).

“CAI researchers will be able to use the laboratory area which Axiom Molecular enhances to a Good Manufacturing Practice (GMP) environment. This will enable the CAI with GMP capability for its own research as well as research collaborations with other Australian researchers and biotechnology companies.

“Axiom Molecular will also fund scholarships for Research Higher Degree students at UQ, which demonstrates a clear commitment to ongoing research in radiopharmaceuticals, one of the fastest growing nuclear medicine fields in the world.

“Radiopharmaceuticals are becoming increasingly important for early detection of diseases like cancer and for developing new treatments. The formation of MoleQular and the strategic alliance with Axiom Molecular reflects the commitment of UQ and the CAI to work closely with private industry to make world-class university research and infrastructure available for the benefit of society,” Mr Henderson said.

UniQuest will license a radiopharmaceutical technology, which was discovered by CAI researchers, to MoleQular Pty Ltd. The start-up will fund several radiopharmaceutical research and development projects at UQ.

MoleQular, with the benefit of Axiom Molecular’s expertise in the production, sales and distribution of commercial radiopharmaceuticals, will be responsible for commercialising the outcomes from the R&D projects. Joint teams will oversee and steer the development and commercialisation process.

Axiom Molecular’s Managing Director, Mathew Farag, said the strategic alliance with the CAI would deliver a major objective of Axiom Molecular’s larger strategy to supply radiopharmaceuticals to public and private hospitals throughout Australia and the Asia Pacific region.

“We quickly recognised the strengths in the capabilities and people within the CAI, and through business discussions with UniQuest, we came to see how we could realise additional value in our relationship with UQ,” Mr Farag said.

“The outcome is this innovative alliance with UniQuest, including our corporate venture investment in MoleQular, which has the potential to deliver a number of new technologies and products to the global radiopharmaceutical market.”

Director of the CAI, Professor David Reutens said his team was delighted to have Axiom Molecular as a long-term collaborative industry partner.

“I am also excited by the alliance because UQ is the lead institution of the National Imaging Facility,” he said.

“This agreement will provide researchers around the country with access to a radiopharmaceutical GMP capability to test new radiopharmaceuticals.

“This collaboration adds considerable value to the CAI which has received funding not only from UQ but also from Federal and Queensland Government.

“Strong industry collaborations mean that world-class CAI research has a better chance of being commercialised, contributing to personalised medicine around the world,” Professor Reutens said.

Strategic alliance summary

-       The total transaction value of the deal is A$4.3 million.

Axiom Molecular gains multi-year use of CAI facilities to produce Positron Emission Tomography (PET) radiopharmaceuticals for the diagnosis of cancer and brain disorders.

-       Axiom Molecular will enhance a laboratory in the CAI to a Good Manufacturing Practice (GMP) environment.

-       CAI researchers are able to use the GMP capability for its own research as well as research collaborations with other Australian researchers and biotechnology companies.

-       Axiom Molecular will fund a number of scholarships for Research Higher Degree students at UQ.

-       Axiom Molecular will make a corporate venture equity investment in MoleQular Pty Ltd, a start-up company formed with UniQuest, to research, develop and commercialise novel radiopharmaceuticals for the diagnosis of cancer and brain disorders.

-       UniQuest will license to MoleQular Pty Ltd a radiopharmaceutical technology which was discovered by CAI researchers at UQ and which is the subject of a patent application.

-       MoleQular will fund several radiopharmaceutical research and development projects at UQ including that already licensed from UniQuest in the founding agreement.

-       MoleQular, with the benefit of Axiom Molecular’s expertise in the production, sales and distribution of commercial radiopharmaceuticals, will be responsible for the commercialisation of the outcomes from the R&D projects. These projects will benefit from joint teams that will oversee and steer the development and commercialisation process.

About UniQuest Pty Limited

Established by The University of Queensland (UQ) in 1984, UniQuest is one of Australia’s leading research commercialisation companies, specialising in global technology transfer and facilitating access for all business sectors to world class university expertise, intellectual property and facilities. UniQuest has created over 70 companies, and since 2000

UniQuest and its start-ups have raised more than $450 million to take university technologies to market. UniQuest also provides access to an expansive and exclusive network of independent academics to tailor a consulting or project R&D solution to meet the diverse needs of industry and government, facilitating some 500 consulting, expert opinion, testing, and contract research services each year. UniQuest is a leading Australasian provider of international development assistance recognised for excellence in technical leadership, management and research.

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