The company is a clinical-stage company developing targeted cancer therapeutics for both humans and animals.
MPL is a drug approved by regulators for the treatment of veterinary parasitic infections.
The new patent relates to the use of aminoacetonitrile (an organic compound) derivatives for the treatment of intracellular pathway-related diseases.
Importantly, the new patent expands the range of therapeutic indications that can be targeted by PharmAust, enabling the company to explore new commercial opportunities in major markets.
The discovery by PharmAust that MPL has potent cancer suppressing activity has led to the company targeting MPL for the treatment of both veterinary and human cancers.
PharmAust had initiated trials at the University of Cambridge, Department of Veterinary Sciences in the UK last year.
The company’s subsidiary, Epichem, a contract synthetic drug manufacturer, is forecast to generate $3 million in revenues in 2017.