In August 2013, PharmAust acquired Pitney Pharmaceuticals Ltd and raised funds to develop its product pipeline, which now includes both human and veterinary proprietary medicines to treat cancer.
As a result, PharmAust now also has two key strategic alliances with major pharmaceutical companies and products already in phase II trials. These products target substantial multi-billion dollar markets.
PharmAust specialises in the relaunch of existing marketed products for oncology applications making the whole development, regulatory and commercialisation process much faster. In addition, PharmAust ‘s other wholly owned subsidiary, Epichem Pty Ltd generates sales of around $1.7M per annum from contract sales to the pharmaceutical industry of synthetic drugs.
Epichem is also facilitating the generation of new IP by synthesizing analogues for projects within the group.
The principal activities of the company are to develop its own drug discovery intellectual property, namely three platforms for the treatment of different types of cancers in humans and animals, as well as providing highly specialised medicinal and synthetic chemistry services on a contract basis to clients.
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