Developing new medicines worth millions for NZ

9 September 2009

Developing new medicines worth millions for New Zealand

A special event at The University of Auckland on Friday 11 September will celebrate New Zealand’s recent successes in discovering new medicines to treat cancer and other diseases.

Over 350 scientists, doctors and businesspeople from around the country will gather at The University’s Business School for the New Zealand Drug Discovery Symposium.

The Maurice Wilkins Centre for Molecular Biodiscovery at the University is hosting the event. The Director of the Maurice Wilkins Centre, Associate Professor Rod Dunbar, says the symposium will look at nine new drugs discovered in New Zealand.

“Some of these drugs are now in late-stage clinical trials. One of them – an
anti-cancer drug discovered at the Auckland Cancer Society Research Centre – may be approved for sale in less than a year.”

Professor Dunbar says several of these drugs are earning tens of millions of dollars for New Zealand, either through payments from overseas companies developing the drugs, or from direct overseas investment in New Zealand drug development companies.

“Drug discovery is now a national activity. This meeting will discuss how the next generation of medicines discovered here can benefit our economy as well as the health of New Zealanders.”

Speakers at the symposium will include businesswoman Jenny Morel, whose company No 8 Ventures helps young technology companies realise their potential, and Will Charles from Auckland UniServices Limited, the commercial arm of The University of Auckland. Mr Charles will talk about three start-up drug development companies to come out of the University, including the newly-formed company Saratan Therpeutics.

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