Sydney, Australia 18 March 2016 – Clarity Pharmaceuticals, a radiopharmaceutical company focused on the treatment of serious disease, has been awarded the maximum amount of Accelerating Commercialisation grant funding. This grant is part of the Australian Government’s Entrepreneurs’ Programme and will be used to commercialise Clarity’s novel radiopharmaceutical for treating cancer, SARTATE™.
The grant, valued at $1,000,000, will fund a definitive clinical trial of SARTATE™, proving its value to the market. All of the product manufacture and trial results will also help in the development of SARTATE™ for childhood cancers, expanding the product’s market and potentially providing a safe and efficacious treatment for this important group of cancer patients.
Clarity licensed its “SAR” technology from the Australian Nuclear Science and Technology Organisation (ANSTO) and the University of Melbourne (UM). The SAR technology was initially validated and commercialised through a service business and then in 2011-12 Clarity developed its first product, SARTATE™, for pre-clinical testing. Clarity received grant support from Commercialisation Australia to develop a proof-of-concept clinical trial to test SARTATE™ in humans as a novel cancer diagnostic for neuroendocrine tumours (NETs) and successfully completed that trial in 2015.
The funding from the Accelerating Commercialisation grant will fund SARTATE™’s development as a cancer therapy. Success in the NETs trial will demonstrate the commercial potential of SARTATE™ as a product and create opportunities for the platform SAR technology to be used more broadly for other cancers, such as neuroblastoma and prostate cancer.
Clarity’s Chief Executive Officer, Dr Matthew Harris, commented “We are thrilled to receive the Accelerating Commercialisation Grant and are looking forward to commencing our clinical trial. This funding will enable Clarity to commercialise our lead therapy asset by working with the most prominent scientists and research organisations in the field. We are striving to treat cancer patients in a personalised way with cutting edge technology”.
Dr Alan Taylor, Clarity’s Executive Chairman, added: “This is an exceptional opportunity that will help Clarity develop products that better treat adult and child cancers and help Clarity to evolve as the next Australian success story in life sciences.”
“Grants like Accelerating Commercialisation are vital to unlocking Australia’s full R&D potential by promoting translational science, enhancing collaboration between academia and businesses and commercialising promising research into internationally competitive innovative solutions.”
About Clarity
Clarity Pharmaceuticals is a personalised medicine company focused on the treatment of serious disease. The Company is a leader in innovative radiopharmaceutical technology, developing targeted therapies and assisting in the drug development pipeline of novel therapies for companies globally.
www.claritypharmaceuticals.com
Media Contact
Dr Alan Taylor
Executive Chairman
Ph: +61 (0)413 871 165
E: ataylor@claritypharm.com
