Sydney, Australia 11 August 2016 – Clarity Pharmaceuticals, an Australian radiopharmaceutical company focused on the treatment of serious disease, including cancer and heart disease, has been awarded a Belgium government grant of approximately EUR950,000 under the Wallonia region COOTECH program. The grant is funded by the European Union and the Directorate General for Economy, Employment and Research, Belgium.
The grant will fund the development of PlateView™, a diagnostic for the detection of rupture-prone vulnerable plaque, and support Clarity’s expansion to Europe.
PlateView™ has been licensed from Baker IDI Heart and Diabetes Institute (Melbourne, Australia) and has the ability to detect and visualise unstable, rupture-prone plaque. According to the World Health Organization, there are over 17.5 million people globally who die each year from cardiovascular disease (CVD), which is approximately 31% of all deaths worldwide. It is estimated that four out of five CVD deaths are caused by heart attacks and strokes with the majority of heart attacks occurring due to rupture of unstable plaques, subsequent formation of clots in the coronary arteries and ultimately loss in cardiac function. The majority of this population have no prior symptoms.
The Belgium government grant will assist Clarity in progressing PlateView™ to human clinical trials and commercialise the technology to help diagnose and prevent heart attacks caused by rupture of unstable plaque. Clarity is looking forward to working closely with collaboration partners in the Wallonia region, as the region has a strong track record in the life sciences field with substantial experience in radiation technologies.
Dr Alan Taylor, Clarity’s Executive Chairman, commented: “This grant presents a unique opportunity for Clarity to expand its partnerships, further leveraging our collaborations and grow expertise in the radiopharmaceutical field outside of our cancer program, which we are developing in Australia. We see the development of PlateView™ as an opportunity to commercialise the work of Australian researchers and scientists as well as pioneer the vulnerable plaque segment of the PET cardiology nuclear medicine segment and tap into the large CVD diagnostics market. We believe that translating this research from the lab into the clinic will lead to significant value creation for Clarity and our academic collaborators. Importantly, we aim to generate better patient outcomes for people around the world through the diagnosis and prophylactic treatment of vulnerable plaque and sudden heart attack.”
Clarity Pharmaceuticals is a personalised medicine company focused on the treatment of serious disease. The Company is a leader in innovative radiopharmaceutical technology, developing targeted therapies and assisting in the drug development pipeline of novel therapies for companies globally.
Wallonia boasts long-standing experience in the field of life sciences. The region has attracted a large number of international players, takes pride in the cutting-edge medical care dispensed in its many modern hospitals, nurtures intense cooperation with the medical faculties of its universities and puts its trust in its highly qualified medical workforce.
Dr Alan Taylor
Ph: +61 (0)413 871 165