Emerging Australian Neuroscience Company Snoretox Wins $1 million in Medical Research Future Fund (MRFF) funding and a pathway towards a further $50 million of funding over the next five years.
In a world-first in the development of treatments for lax muscle tone and neuromuscular control affecting sufferers of sleep apnoea, sphincter and pelvic floor weakness, Multiple Sclerosis (MS), Motor Neuron Disease (MND), Myopathy and more, an Australian-based team of researchers has developed tetanus toxin-based products and secured a significant grant and funding pipeline access to further develop the treatments and prepare for availability in Australian and international markets.
The Company has also been awarded the “Barrier to Innovation Waiver” for innovation and proof of concept for efficacy by the US Food and Drug Administration (US FDA) Centre for Veterinary Medicine (CVM).
Dr Dennis Feeney, Chair of Venture Technology Group (VTG) and foundation Board of Directors member of Snoretox biotechnology company is pleased to advise that the Australian Commonwealth Minister for Health has announced the award of a Medical Research Future Fund (MRFF) 2021 Frontier Health and Medical Research Initiative Grant of 1 Million dollars over the next 12 months, and a pathway to apply for a further $50 Million over the next five years to fund Phase II and Phase III trials of Snoretox’s breakthrough products of modified tetanus toxins.
The MRFF is a multi-billion-dollar fund set up by the Australian Commonwealth Government to promote medical research and translation of technologies into the clinic, with the Frontier Fund designed to assist biotechnology companies and other organisations take their products to the market.
Snoretox’s modified tetanus toxin antibodies are in development at RMIT University in the laboratories of Professor Peter Smooker with further support by the Australian Research Council. The modified tetanus toxin antibodies are intended to address improvement in conditions affected by lax muscle tone and neuromuscular control in humans and animals.
“I am pleased to serve as a foundation Director of the Snoretox Board”, Dr Feeney said. “Snoretox has an international opportunity and is well supported by an outstanding network of collaborative partners to deliver the objectives of the MRFF Frontier Health and Medical Research Initiative – exploration of bold concepts that could have a global impact; supporting Australian researchers to collaborate and pursue big ideas that can revolutionise health care; potentially create new industries and make discoveries of great potential and global impact.”
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