Work on a treatment for one of the world's most urgent and underestimated health challenges has received a $1 million boost through the La Trobe University Eagle Fund, a pre-seed investment program with Breakthrough Victoria.
Deftbiotech, a La Trobe University-based spin-out company, has been established to progress the development of a new anti-fungal drug called Pezadeftide, which showed promise as a topical treatment for fungal nail disease during Phase 1 trials.
The investment from Eagle Fund, to which La Trobe and Breakthrough Victoria have each contributed $500,000, will enable Deftbiotech to conduct Phase 2 clinical trials and investigate application for other topical fungal infections.
Fungal diseases represent one of today's most urgent and underestimated health challenges, affecting more than 500 million people globally, yet existing topical and oral treatments are expensive and ineffective, as fungi are becoming resistant to current drugs.
For the US alone, the direct medical costs for treatment of fungal diseases are estimated at US$6.7-7.5 billion annually.
La Trobe Emeritus Professor Marilyn Anderson AO co-founded Deftbiotech with Emeritus Professor Adrienne E Clarke AC and Dr Susan Lachal from the University of Melbourne.
Professor Anderson said unlike existing treatments, Pezadeftide has been shown to kill a wide range of pathogens that cause serious disease in humans and agriculture.
"With the growth in resistant fungus, there is an immediate need to develop new treatments for fungal disease," Professor Anderson said. "Without treatment these infectious diseases get worse, and current therapies are ineffective or toxic, particularly in diabetics and immune-compromised people."
Professor Anderson said Phase 1 trials of Pezadeftide saw improvements in nail appearance within 12 weeks of treatment.
She said the trial also found Pezadeftide can reach the site of infection much better than competitors, rapidly kills a wide range of fungi that infect nails, did not show adverse effects, has a long shelf life at room temperature and avoids drug resistance.
"With the investment from the Eagle Fund, we will be able to continue developing Pezadeftide with the goal of commercialising it into an effective treatment for the millions of people who struggle with fungal disease," Professor Anderson said.
La Trobe Deputy Vice-Chancellor Research and Innovation, Professor Chris Pakes said Deftbiotech is a fabulous example of the strength and commercial potential of La Trobe's world-class research, driving innovation and addressing challenges across biotech, agtech, and biomedical sciences.
"Deftbiotech is exactly the type of innovative start-up the La Trobe University Eagle Fund, in partnership with Breakthrough Victoria, is designed to support, where early-stage research has the potential to be translated into viable solutions to global issues, particularly in areas of digital health, AI, disease detection and treatment, food security and other areas," Professor Pakes said.
"It also offers industry partners a valuable opportunity for strategic collaborations, and supporting entrepreneurial researchers to further their research and innovation through world-leading start-up companies."
Breakthrough Victoria CEO Rod Bristow said: "Deftbiotech is tackling a widespread and under-addressed health issue with scientific rigour and commercial ambition. Their approach has the potential to transform treatment outcomes for millions of people globally, and we're proud to support their journey through the UIP.
"This investment reflects Breakthrough Victoria's commitment to supporting bold, research-driven innovation that improves lives and strengthens Victoria's biotech sector."
The funding will be announced as part of the official launch of La Trobe's Eagleworks Innovation Centre, which will bring together researchers, industry, startups, students and the broader community to turn ideas into action.
The Centre will be opened during the first Eagleworks LIVE, showcasing La Trobe Eagle Fund and the innovative projects is has funded. It will include a panel with the strong female tech behind many of the start-up companies, including Professor Anderson.
Rod Bristow and La Trobe University Chancellor John Brumby AO will also be speaking about the need for investment in research and development in Victoria.
