Pharmaxis (ASX:PXS) - CEO, Gary Phillips (right)
CEO, Gary Phillips (right)
Source: Pharmaxis
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  • Pharmaxis (PXS) receives drug development grants from the Australian government, funding two research teams to advance the company’s work
  • Associate Professor Thomas Cox from the Garvan Institute of Medical Research has been awarded with $827,500 to investigate a new treatment approach for pancreatic cancer
  • The first team will aim to validate biomarkers previously identified as a potential tool to determine which patients are most likely to benefit from the therapeutic approach
  • The second team, led by a collaboration of scholars, is awarded $590,264 to examine a serine protease inhibitor as a treatment for tissue repair and inflammatory skin diseases
  • Pharmaxis Ltd. (PXS) last traded at $0.12 per share before market open on January 6

Pharmaxis (PXS) receives drug development grants from the Australian government, funding two research teams to advance the company’s work.

Associate Professor Thomas Cox from the Garvan Institute of Medical Research has been awarded $827,500 to investigate a new treatment approach for pancreatic cancer.

This first team will conduct further preclinical studies of the experimental treatment in combination with chemotherapy. 

The team will also aim to validate biomarkers previously identified as a potential tool to determine which patients are most likely to benefit from the therapeutic approach.

PSX-5505 is currently being studied by Pharmaxis in phase 2 clinical trial of the bone cancer myelofibrosis, with an IND also granted to explore its potential in liver cancer.

“Our preclinical studies in experimental models have revealed that targeting lysyl oxidases can reduce fibrosis and improve the efficiency of chemotherapy, Mr Cox stated.

The second team includes Professor Fiona Wood and Associate Professor Mark Fear of UWA’s Burn Injury Research Unit partnered with Dr Mehra Haghi of the University of Technology Sydney and Pharmaxis.

This team has received $590,264 to examine a serine protease inhibitor as a potential treatment for tissue repair and inflammatory skin diseases.

Gary Phillips, CEO of Pharmaxis, said the company is delighted by the grants.

“Together, our work aims to support commercialisation of new treatment approaches for pancreatic cancer and various skin diseases, which we hope will deliver significant benefits for patients,” he said.

Pharmaxis (PXS) last traded at 12 cents per share before market open on January 6.

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