Pharmaxis (ASX:PXS) has been awarded a combined $776,646 from the Australian Research Council for two of its projects focusing on fibrotic research being conducted at the University of Sydney.
Pharmaxis is involved in research, development and commercialisation of therapeutic products for chronic respiratory disorder and has three drug programs that are at the preclinical stage and target fibrosis and inflammatory diseases.
A grant of $405,646 has been made to a team headed by Prof. Carol Pollock, who is investigating the utility of Pharmaxis compound PXS-4728A in treating renal fibrosis, while a separate project on developing advanced inhalation technology to deliver Pharmaxis' compounds to underlying fibrotic cells in the lungs has been granted $370,000.
The funding will be spread through three years and will be matched by Pharmaxis.
The ARC grants are part of the Linkage Projects scheme, which provide funding to eligible organisations to support R&D projects that are collaborative between higher education researchers and other innovation centres.
The company also has products that are already commercial. Its product Aridol for the assessment of asthma is sold in key international markets while its product Bronchitol for cystic fibrosis has been launched in Europe and Australia.
Its development pipeline of products includes Bronchitol for bronchiectasis, ASM8 for asthma and preclinical assets in inflammatory and fibrotic diseases.
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