Brisbane-based Kimaritec has taken top honours at the world’s leading healthcare conference, showcasing its innovative cancer treatment technology to a global audience.
The company secured Gold at the RESI Innovator’s Pitch Challenge during J.P. Morgan Healthcare Week in San Francisco, USA.
A Breakthrough in Cancer Treatment
Kimaritec is developing groundbreaking therapies that target and dismantle specific proteins that fuel cancer growth. This approach aims to create more effective cancer treatments with fewer side effects. Their winning pitch focused on their unique method of targeted protein degradation, which involves blocking specific SUMOylation events in cancer cells.
SUMOylation is a process that stabilises proteins within cells, and cancer cells often rely on this process more than healthy cells. Kimaritec’s research has identified proteins that cancer cells specifically need to SUMOylate, and by stopping this modification, they can trigger cancer cell death. This innovative approach distinguishes Kimaritec from other companies working on targeted protein degradation.
Brisbane’s MedTech Sector Shines on the World Stage
Kimaritec’s success marks the third consecutive year that a Brisbane company has won the top prize at the RESI Innovator’s Pitch Challenge, solidifying Brisbane’s status as a global MedTech hub. The company was selected by the Brisbane Economic Development Agency (BEDA) as one of 11 MedTech companies to represent Brisbane through its global accelerator program.
This program supports Brisbane’s burgeoning health technology sector by helping local businesses gain a foothold in the lucrative US life sciences market. BEDA’s CEO, Anthony Ryan, emphasised the importance of this win for Brisbane, stating that it places the city’s MedTech sector firmly in the global spotlight and attracts the attention of the world’s leading investors.
He added that this accolade demonstrates why Brisbane is a city buzzing with opportunity and cements its position as Australia’s leading MedTech hub.
A Pivotal Moment for Kimaritec
Kimaritec’s co-founder, Associate Professor Sally-Anne Stephenson, expressed excitement about the award, describing it as a major milestone in their product innovation journey. She acknowledged that the company had been operating somewhat under the radar until now and that this recognition is precisely what they need to attract the attention of the right partners to propel them forward.
She also noted the value of the support received from BEDA and Life Science Nation, particularly in refining their investor pitch. Dr. Stephenson’s personal experience with melanoma has been a driving force in her work. She explained that the company’s approach to targeted protein degradation, by targeting cancer cell-specific SUMOylation events, is new and different.
Looking to the Future
Kimaritec has demonstrated that their molecules can effectively block SUMOylation and kill cancer cells in laboratory settings. Their immediate goal is to refine these molecules to make them more suitable for drug development.
Winning the RESI JPM challenge has significantly impacted their fundraising efforts, providing them valuable connections to potential investors. The company hopes they will secure the necessary investment to move to the next stage of development.
BEDA’s Role in Fostering Innovation
BEDA’s MedTech Initiative has been crucial in supporting Brisbane’s MedTech sector. Since 2023, the initiative has supported 30 companies, generated over 180 new jobs, and helped businesses secure almost $100 million in funding.
Brisbane companies’ success at the RESI Innovator’s Pitch Challenge for three consecutive years underscores the effectiveness of BEDA’s programs and the strength of Brisbane’s MedTech ecosystem. BEDA’s State of the City Report projects significant growth for Brisbane’s health sector by 2031, with health exports already experiencing rapid expansion.
Published Date 07-Feb-2025
