From the article...
Prof Fletcher is Phylogica’s research and development chief. "She is like a national living treasure," Dr Hockings says.
Prof Fletcher and fellow Prof Steve Wilson invented eteplirsen (Exondys-51) which eventually became a blockbuster drug to treat Duchenne’s muscular dystrophy (Exondys-51 is owned by Sarepta Therapeutics of the US).
Phylogica formed a joint venture called Vision Pharma with Lion’s Eye Institute, a Perth not-for-profit research body.
In effect, Phylogica delivered the vehicle (the penetrating peptides) and Lion’s Eye provided the molecule, known as an anti-sense oligonucleotide.
Phylogica had a 50 percent share of the joint venture, but has committed $15 million to take its ownership to 90 percent. Of this amount, the institutional component of the rights offer will provide $14.3 million.
"Up to now we were reliant on someone else," Dr Hockings says: "We now have our own molecule and we can keep taking it forward in the clinic."
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