The business model will target reformulating existing and approved drugs allowing the repurposing of existing therapeutic agents.
Associate Professor Clive Prestidge, Technical Officer of Ceridia and Director of Nanomedicine at South Australia’s Ian Wark Research Institute, said: “It’s personally rewarding to see discoveries made in the lab moved into commercial development with the ultimate aim of commercial benefit. Ceridia also embodies the ambition of the Wark to translate its discoveries into commercial and practical benefit, and I am extremely pleased by our rapid progress in these areas.” Prestidge is a world-leading expert in Nanomedicine and Bio and Polymer interfaces.
Dr Ian Boddy, Acting CEO of Paraco, said “Ceridia’s technology offers a drug delivery platform able to control and manage persistent and highly detrimental diseases caused by parasites. Paraco, through its parent AgResearch, has access to world class expertise in anthelmintic resistance, ruminant immunology and molecular biology. We believe that partnering with Ceridia will create a win-win for all.”
Dr Gregor Rozenberg, CEO of Ceridia said “We are delighted to have signed yet another commercial agreement with an international company backed by a world class research institute partner. We very much look forward to working with Paraco to improve a number of therapeutics and treatments. We know our unique technology has significant advantages over existing technologies and it is pleasing to see it gaining traction in different market places.”
For more information contact:
Dr Gregor Rozenberg, CEOCeridia Pty Ltd61 412 911 firstname.lastname@example.org (email@example.com)
Dr Ian Boddy, CEOParaco Technology Ltd 64 29 274 firstname.lastname@example.org
Information for editors
About Ceridia Pty Ltd
Ceridia is a privately-owned new company of the University of South Australia that has been incubated by ITEK, the commercialisation arm of the UniSA. Ceridia partners with Pharma and Biotech companies using its innovative reformulation platform, LipoCeramics, to improve existing and novel drugs.
Ceridia is commercialising a novel method of reformulating oil-soluble compounds. A silica-lipid nano-encapsulation platform technology, LipoCeramics, has been developed and protected by patents worldwide. This technology enables the pharmaceutical and biotechnology industry to improve efficacy, bio-availability and stability of drugs and help reduce their time to market. It also offers a means of improving existing drugs to be better therapeutics. The technology is clinically proven to be completely safe, uses no synthetic, toxic or corrosive solvent. www.ceridia.com.au
About Paraco Technology Limited (Paraco)
Paraco is an animal health drug discovery and development company that identifies and develops new molecules and formulations that combat a range of major animal health pests. To date Paraco has focused on finding new lead molecules for application in the anthelmintics market, as this is the largest single animal health market by value. Paraco has two programmes that are focused on addressing the market need for new anthelmintics products by innovative early stage product development and partnerships with multinational companies.
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