13 February 2007

Queensland biotech company Ecobiotics, has progressed its existing relationship with The University of Queensland’s (UQ) natural products synthesis group by establishing a three-year, $2.5 million research contract.

UQ’s Dr Craig Williams, a lecturer at the School of Molecular and Microbial Sciences in the Faculty of Biological and Chemical Sciences, will work to identify active ingredients located from natural sources by Ecobiotics.

Professor Alastair McEwan, Head of the School, said the contract reflected significant University funding for chemistry in recent years and demonstrated UQ’s talents in an important scientific field.

UniQuest, UQ’s main commercialisation arm, assisted the negotiations by highlighting UQ deliverables, ensuring policies were followed and that the terms and conditions of the contract were mutually acceptable.

David Henderson, UniQuest’s Managing Director, said it was a “great achievement for UQ.”

“It demonstrates the University’s ability to assist industry in its endeavour to increase value for Queensland,” Mr Henderson said.

“These works have the capacity to lead into other areas within the University that can add even more value to the research and development activities of companies like Ecobiotics.”

Dr Victoria Gordon, Chairman and Chief Executive Officer of Ecobiotics, said the company was excited about expanding its relationship with UQ.

“From a commercial perspective, being able to access world class researchers such as Dr Craig Williams ‘on our doorstep’ has enormous benefits to a Queensland company like ours that operates in a highly competitive global pharmaceutical R&D market,” Dr Gordon said.

EcoBiotics is a privately held Australian company that specializes in the discovery and early development of new pharmaceuticals from the unique tropical rainforests of Australia and Melanesia.

For more information, contact Joanna Squires, telephone (07) 3365 4037 or 0409 767 199 (mobile), or email j.squires@uniquest.com.au