Australian biotech company Avexa Ltd has announced an agreement to work with Shanghai-based TargetDrug Co Ltd on its Hepatitis C virus (HCV) program to develop a novel lead inhibitor.

Chief executive of Avexa, Dr Julian Chick, says HCV affects 180 million people globally.

“With only half of all HCV patients benefiting from current therapy, unmet medical needs are clearly very high. We see the development of new HCV treatments as an opportunity to put Avexa’s proven experience in pure drug discovery into play,” Dr Chick said.

Heptitis C is an infectious disease that leads to liver inflammation, cirrhosis and liver cancer. UK-based industry analyst Datamonitor estimates the HCV market will grow to $US4.4 billion in 2010 and $US8.8 billion in 2015.

The proposed treatment works by preventing HCV replication through a lead inhibitor.

http://www.businessspectator.com.au

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