Uniseed makes two further investments in University of Queensland Technologies

19 August 2008

Uniseed is pleased to announce that it has made two further investments in University of Queensland technologies as detailed below. The companies developing these technologies have been established by UniQuest to commercialise the outcomes of research at the University of Queensland’s Australian Institute for Bioengineering and Nanotechnology (AIBN).

DendriMed Pty Ltd:

Uniseed has committed $630,000 into DendriMed Pty Ltd as an initial seed round to further develop the technology of Associate Professor Michael Monteiro of the AIBN.  The DendriMed technology provides a novel drug delivery platform combining polymer and dendrimer nanotechnologies.  The technology addresses drug delivery which is a significant problem for many pharmaceutical products, but is specifically looking at improving the delivery of RNA inhibitors (RNAi).  These RNAi drug molecules are being developed across multiple therapeutic areas and all suffer the problem of poor delivery to their clinical target; that is, because of their chemical structure, they do not all get to where they are meant to act in the body.  This is currently an area which is drawing a lot of attention from the biotech and pharmaceutical industries.  It is also commercially very attractive with some significant licensing deals achieved over the last 12-18 months. The Uniseed’ investment will fund a proof of concept R&D program. The initial therapeutic target will focus on improving the delivery of RNAi against the human papilloma virus (HPV) implicated in cervical cancer.

TenasiTech

Uniseed has committed $530,000 to TenasiTech Pty Ltd, a new materials company. TenasiTech is commercialising a technology developed by Dr Darren Martin, a Group Leader at the AIBN, based on nanocomposite-enhanced thermoplastic polyurethane (TPUs) elastomers. TPU elastomers are rubbery polymer-based materials that can be stretched but which return to their original size and shape. While conventional reinforcement technologies can increase strength they also stiffen the material. TenasiTech uniquely allows strength to be increased whilst preserving softness and flexibility - often the key properties for selection of these materials. Other properties, including abrasion, tear and fatigue resistance, should also be improved. Dr Martin is the sole inventor of the core technology and has a strong background in TPU research and commercialisation. The ‘soft’ TPU represents an estimated addressable market of over US$2B in the initial subset of applications identified by TenasiTech, including mining hoses and screens, sports equipment including golf ball covers, stretchable fabric (Spandex), grips on hand and power tools, films and coated fabrics. In a broadly commoditised market, large scale polymer makers and suppliers are on the lookout for cutting-edge materials to increase market share. TenasiTech’s long term goal is to become the leading global supplier of materials for enhancing the performance of polymeric elastomers. This Uniseed’ investment will allow the company to develop material samples and undertake comparative performance data testing, enabling it to approach the market and be well positioned to partner with end users to co-develop the material for their applications, giving TenasiTech’s partner a competitive advantage in their marketplace.

About Uniseed

Uniseed is a $61 million commercialisation fund operating at the Universities of Queensland, New South Wales and Melbourne. Apart from these three universities, Western Australia's largest non-government superannuation fund, Westscheme, is also a member. Uniseed has made over 30 investments in technologies arising from its three partner universities, including Vintela (AVCAL Best Early Stage Deal 2005) and QRx-Pharma (largest biotech IPO in ASX history).

For further information please contact:

Dr Peter Devine

CEO - Uniseed Management Pty Ltd

Tel:  0409 631 581 

Email:  p.devine@uniseed.com