Melbourne, Australia, 15 May 2022: Biomedical Translation Fund (BTF) to fund OccuRx to improve treatment for diabetic complications.
The BTF is assisting Australian businesses to develop breakthroughs in drugs, devices and therapies to improve the health of Australians.
Minister for Health and Aged Care, Greg Hunt, said almost $8 million will be provided to OccuRx towards its work developing novel medicines for the treatment of diabetic complications, including diabetic kidney disease and diabetic eye disease.
“Diabetic kidney disease is the chronic loss of kidney function that occurs with diabetes and is the main cause of end-stage renal disease globally,” Minister Hunt said.
“Diabetic eye disease, called diabetic retinopathy, which is a leading cause of blindness, affects almost all individuals with type 1 diabetes and more than 60% of those with type 2 diabetes within 20 years of living with diabetes.”
“Treatment with OccuRx’ novel compounds have generated positive results in animal models of these two key complications of diabetes. This funding will support the company in completing preparations and initiating a Phase 2 clinical program in patients with diabetic complications.”