InCarda Therapeutics Establishes Subsidiary Business in Australia
SAN FRANCISCO, Dec. 1, 2015 /PRNewswire/ -- InCarda Therapeutics, Inc. (InCarda), a privately-held biopharmaceutical company focused on the development and commercialization of therapies for cardiovascular conditions via the inhalation route, today announced that it has established a subsidiary business in Australia. InCarda is planning to undertake its first human clinical trial in Australia in the first half of 2016. The company is collaborating with leading investigators and medical centers in Adelaide and Melbourne. In addition, InCarda has contracted with Australian clinical research organizations (CROs) and is conducting formulation manufacturing and testing in Australia—both in preparation for the upcoming trial. Government incentives are available for conducting such R&D activities in Australia, and thus, InCarda's clinical trial will be substantially subsidized.
"Australia has become an important region for medical research given its resident world-class clinicians, many of whom are involved in conducting clinical trials, as well as its strong collaborators for pharmaceutical development," stated Grace E. Colon, Ph.D., chief executive officer and president of InCarda. "Establishing a subsidiary in Australia makes excellent sense for InCarda given the subsidies we will benefit from as well as the vast infrastructure available to us as we prepare to enter the clinic with our first product targeting paroxysmal atrial fibrillation."
"InCarda is a welcome addition to our emerging pharmaceutical region that is growing here in Australia," stated Brendan Case of Case Governance. "Our compliance team has been delighted to help InCarda get established as they've begun to capitalize on all that Australia has to offer biotechnology and pharmaceutical companies. We are also fortunate to be working with MPR Group for strategic tax advice in Australia."
InCarda's Lead Product for PAF
Paroxysmal atrial fibrillation, the most common type of cardiac arrhythmia (abnormal heart rhythm) is an episode patients experience when the heart flutters instead of beating normally. Flecainide is commonly prescribed for arrhythmias, and InCarda is evaluating an inhaled formulation of the drug for patients experiencing PAF.
About InCarda (www.incardatherapeutics.com)
InCarda Therapeutics, located in the San Francisco Bay Area with operations in Australia, is focused on transforming cardiovascular disease treatment through pulmonary delivery of established drugs. The company is product-focused with significant capabilities and led by a team with extensive experience in drug development. The lead product under development is an inhaled therapy intended to treat paroxysmal atrial fibrillation (PAF). InCarda is also working on additional research concepts that leverage the same platform technology to target the heart for acute cardiac conditions. The company's approach is designed to reduce the risk normally associated with drug development. InCarda's model is based on the following three tenets: known diseases, known drugs, new delivery.
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SOURCE InCarda Therapeutics
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