Launching a four-year research program to develop diabetes and obesity treatments, PreveCeutical Medical Inc. of Vancouver, British Columbia recently signed an agreement with UniQuest Pty Ltd. of the University of Queensland in Australia.
PreveCeutical and UniQuest collaborated previously on two projects. This newest venture will be overseen by PreveCeutical’s Chief Research Officer Dr. Harendra Parekh in cooperation with colleagues Grant Ramm of QIMR Berghofer Medical Research Institute and Murdoch University’s Dr. Rakesh Veedu.
Focusing on dual-gene therapy and using existing proprietary bionanotechnology, the undertaking will grant PreveCeutical all rights and include a global licensing option, compensating UniQuest in return for major developments and sales royalties.
“This really is a great example of cross-disciplinary collaboration, with leading researchers possessing complementary skills from three Australian institutions -- the University of Queensland, QIMR Berghofer Medical Research Institute and Murdoch University -- coming together with the common goal of addressing one of the most challenging epidemics facing humankind this century: diabetes and obesity,” Parekh said.
UniQuest specializes in commercializing intellectual property and research results. It serves as the University of Queensland's primary mercantile vehicle for such discoveries, currently yielding over $3 billion annually for the university.
The University of Queensland significant global contributions include superconductor technology for MRI’s as well as Gardasil, the cervical cancer vaccine.