Biotech startup Ankere Therapeutics has raised $10 million in Seed capital to develop new therapies targeting inflammatory diseases, especially in the lungs.
The funding round was co-led by IP Group and Brandon Capital, through Brandon BioCatalyst, and will support the company through its pre-clinical development and into clinical trials.
Ankere, which has operations in both Melbourne and Adelaide, aims to develop new therapies for inflammatory lung disease, based on its proprietary small molecule chemistry.
The startup is building its solutions based on research by its co-founders, Associate Professor Bernard Flynn of Monash University’s Institute of Pharmaceutical Sciences and Professor Stuart Pitson of University of South Australia’s Centre for Cancer Biology,
Prof Pitson is a world leader in inflammatory cell signalling and Ankere’s Chief Scientific Officer.
“Ankere is an example of how a strong partnership between researchers with a shared area of focus has the potential to address the most pressing health concerns,” he said.
“The combination of research, expertise and capital at Ankere, will support the project to advance its highly promising discovery which has the potential to lead to new therapies targeting inflammation.”
A/Prof Flynn is the startup’s CEO and research director.
“We are excited to be developing disease modifying therapies that have the potential to have a real global impact,” he said.
Brandon Capital partner Dr Melissa McBurnie is on the Ankere board. She said her firm is aligned with IP Group in its focus on the life sciences and backing the best biomedical innovations.
“Collaboration is at the heart of the Brandon BioCatalyst model, we know that new therapies require different expert collaborators along the development path from the lab all the way through to patients in the clinic,” she said.
Dr Siro Perez, Head of Life Sciences at IP Group Australia us also an Ankere director and said the biotech demonstrates what’s possible when leading researchers come together.
“We are delighted to be working with the Ankere team and Brandon Capital to support this breakthrough research that has the potential to improve the lives of millions of people with chronic inflammatory conditions around the world,” he said.
“We are looking forward to sharing Ankere’s progress as they advance towards the clinic.”
Ankere is an Arrernte word meaning spinifex wax, which is used in traditional medicines.