Molecule to Medicine (MTM) specialises in co-creating and scaling biotech companies, announces a collaboration with UniQuest to build the first company in the newly established Brisbane pod, specialising in inflammatory disease.

This represents a global expansion of MTM, building on the success of the model from its origins in Oxford, UK.

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Molecule to Medicine (MTM) today announces its expansion into Australia through a collaboration that will bring together MTM’s translational and clinical development expertise to complement the drug discovery capability at UniQuest’s Queensland Emory Drug Discovery Initiative (QEDDI). The newly established MTM pod in Brisbane will focus on building companies in the inflammatory disease space. Lucia Bio is the first company to join the Brisbane pod, spun-out from research at University of Queensland.

Lucia Bio will explore the potential to treat neuroinflammation to bring meaningful benefit to people suffering from degenerative diseases, such as Alzheimer’s disease, Parkinson’s disease and ALS (amyotrophic lateral sclerosis, also referred to as motor neuron disease or Lou Gehring disease). Lucia Bio has secured a seed investment through UniQuest’s Extension Fund.

MTM Chairperson, Dr Tom McCarthy, said the company will establish a presence in Brisbane based on its unique blueprint for biotech company creation, which has a strong track record in the UK. “The quality of UQ’s research is recognised internationally, and we are keen to build on our relationship with UniQuest by collaborating to advance innovative discoveries and help bridge the translational gap,” Dr McCarthy said.

Kirsty McCarthy, MTM CEO, added: “Our model is based on a globally connected, efficient drug R&D ecosystem that leverages MTM's collective intelligence, international networks, funding streams and cutting-edge science within our people-focussed ecosystem. The culture at MTM fosters innovation to create and scale biotech companies that are designed to maximise the translation of cutting-edge research into successful clinical development programs”.

UniQuest CEO Dr Dean Moss said the global collaboration will bring benefits to UQ and the Brisbane biotech start-up space, “MTM is renowned for bringing together the right people, funding and innovative technologies to create successful biotech companies with the capability to advance new therapies towards the patients that need them.” The partnership between MTM and UniQuest is built on a long-standing relationship between the two entities.  MTM co-founder, Dr Tom McCarthy was CEO and President of UQ spin-out Spinifex Pharmaceuticals, a company that developed a first-in-class treatment for chronic pain. Tom was at the helm when Spinifex was acquired by Novartis in 2015 for US$200 million.  

‍About MTM

MTM is a global biotech pioneer celebrated for its uniquely collaborative culture. Run by entrepreneurs for entrepreneurs, it specialises in co-creating and scaling companies within its global ecosystem. To date, MTM has co-created four companies in the UK: Grey Wolf Therapeutics, Pathios Therapeutics and ThirtyFiveBio in the Oxford pod and Melio Bio in the London pod.

About QEDDI

UniQuest’s commercial drug discovery group, QEDDI, was established with an industry-experienced team to advance UQ’s promising drug targets towards the clinic with a focus on commercial viability. The approach behind Lucia Bio is one of several novel drug discovery programs in the QEDDI pipeline addressing critical unmet medical needs in the areas of oncology, neurodegeneration and inflammation. Working in partnership with MTM, QEDDI will accelerate the development of these programs, bringing life-changing treatment options to patients faster.

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https://www.linkedin.com/company/lucia-bio

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