Australian biotech company launched with AU$7m investment to develop therapies for treating obesity

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Posted: 2018-02-19 in Press Releases

Adelaide, Australia, 19 February, 2018 – Cincera Therapeutics Pty Ltd (“Cincera”) has launched with
an AU$7 million venture capital commitment from the Medical Research Commercialisation Fund
(MRCF).
The Company has been founded to develop new therapies to target conditions relating to an
unhealthy Western diet, including serious and highly prevalent diseases associated with obesity. The
company will initially focus on treatments for the emerging epidemic of a liver disease termed
‘NASH’ (non-alcoholic steatohepatitis).
Cincera secured its vital venture capital support from the AU$200 million Brandon Capital managed
‘MRCF3’ fund. The MRCF was established in 2007 and promotes the creation of early stage medical
technology companies across Australia and New Zealand, with the $200 million MRCF3 fund raised
in 2015.
Obesity and Western diets, high in saturated fats and processed carbohydrates, can alter the
abundance (in both quantity and quality) of fats in the body. The subsequent accumulation of
excessive and ‘toxic’ fats in the peripheral organs can induce inflammation and tissue fibrosis
(scarring), which can ultimately compromise function and lead to organ failure. Cincera aims to treat
diseases like NASH by reducing the excessive abundance of specific ‘toxic’ fats in the body.
The Company is harnessing high-potential research from the Centre for Cancer Biology, an alliance
between the University of South Australia and SA Pathology in Adelaide, and Monash University’s
Institute of Pharmaceutical Sciences (MIPS) in Melbourne. Founding scientists of Cincera, Associate
Professor Bernard Flynn from MIPS, who is also CEO, and Professor Stuart Pitson from the CCB, have
been developing novel therapies that modulate an important target involved in a number of
diseases.
Medicinal chemist and serial entrepreneur Associate Professor Flynn says, “Cincera is a great
example of how partnering great teams and technologies with capital, and the right expertise, can
facilitate the translation of Australian medical research.”
“In our collaboration with Professor Pitson of CCB and Associate Professor Bing Wang of Monash
Clinical Epidemiology, we have brought the science of disease biology and drug-discovery together in
a unique and effective manner. Through the rapid assembly of initial research compounds, we were
able to identify the most important enzymatic targets that contribute to inflammatory and fibrotic
disease - and then develop drug-like lead compounds to specifically intercept these new targets.”
“MIPS is taking Australian innovation to the world through the development of novel therapies and
we are delighted to have won the support from MRCF to take our innovative new therapies to the
next stage,” Professor Flynn says.
Professor Pitson, a world leader in cell signalling and CSO of Cincera, says, “Through collaboration
with the team at Monash, we have drug candidates that are potent and broad-acting antiinflammatory
and anti-fibrotic agents that show strong potential to become new treatments.”
“There are many aspects of the disease that could be improved by these drugs, from treating liver or
kidney dysfunction through to possible treatments for certain cancers. Making a difference is what
drives researchers at the CCB and forming a company like Cincera will be important for translating
our research into better treatments for patients.”
“The Cincera founders have developed a highly differentiated approach to treating inflammation and
fibrosis,” says Dr Michael Bettess, Investment Manager at Brandon Capital Partners and Director of
Cincera. “When combined with high-quality Australian science and the extensive commercial
experience of the team, Cincera became a clear early-stage investment for the MRCF.”
“It’s important to lead and maintain a healthy lifestyle as diseases like NASH are often associated
with poor dietary choices and therefore largely preventable. However, for the many people who do
suffer from this serious disorder a drug based treatment is really their only option and needed
urgently,” Dr Bettess says.
The MRCF investment will be used by Cincera to show efficacy in disease models and support the
ongoing optimisation of compounds o select drug candidates that will be suitable for clinical trials in three to four years.