SYNTHESIS BioVentures' founder, Prof Andrew Wilks, has been awarded the 2024 Prime Minister's Prize for Innovation in Science for his work in drug development, particularly the invention of momelotinib.
Along with co-inventor Dr Chris Burns, Prof Wilks created the JAK inhibitor that treats myelofibrosis, a form of bone marrow cancer.
Wilks' colleague and SYNthesis Managing Director Dr Fabio Turatti praised the award as a testament to Prof Wilks' contributions to Australia's biotech industry.
"Andrew's experience and expertise uniquely position him to guide the fund's investments.
"His success with momelotinib demonstrates his ability to identify and support promising medical research," Turatti said.
Momelotinib was acquired by GSK for US$1.9 billion (A$2.82 billion) in May and was recently approved by the US FDA.
This recognition highlights Prof Wilks' ongoing efforts to streamline the path from medical research to marketable treatments.
His own experience with momelotinib, which took over 20 years to reach patients, underscores the need for more efficient drug development processes.
Today, he leads SYNthesis BioVentures, a venture capital firm focused on accelerating early-stage medical research.
The firm is currently raising $75 million to invest in innovative healthcare projects.
Since its founding last year, SYNthesis BioVentures has raised nearly $25 million and invested up to $10 million in three more Australian companies.
One of these, Aculeus Therapeutics, is working on a treatment for paediatric cancers.
With over $30 million in total funding, including $3.25 million from SYNthesis BioVentures, Aculeus is preparing for human clinical trials and plans to list on the ASX within 12 to 18 months.
The company's other two investments are also progressing toward clinical trials.
Anaxis Pharma is developing a novel treatment for inflammatory diseases, with human trials expected in 2025.
Meanwhile, Skin2Neuron is working on a treatment for Alzheimer's and other neurodegenerative diseases, with clinical data expected within the next two to three years. JG
Pictured: Burns and Wilks.
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