Taipei, 20 June 2016 –Golden Biotechnology Corporation was named the winner of the inaugural Advance Queensland – Johnson & Johnson Innovation QuickFire Challenge, one of three winners announced by Queensland Premier Annastacia Palaszczuk; Minister for Innovation, Science, and Digital Economy Leeanne Enoch; and Johnson & Johnson Innovations’ New Venture Director for Australia New Zealand Kathy Connell (affiliated with Janssen-Cilag Pty Ltd) at the Queensland University of Technology (QUT) in Brisbane Australia on 15 June.
Golden Biotechnology Corporation won the award for their work developing a potential treatment for Alzheimer’s disease, which impacted the lives of more than 36 million people worldwide in 2010, and is predicted to affect 65.7 million by 2030, according to the Alzheimer’s Association.
Golden Biotechnology Corporation aims to conduct pre-clinical testing of a chemical compound called antroquinonol, which offers potential as a treatment for Alzheimer’s disease. Derived from a mushroom commonly used in Chinese traditional medicine, antroquinonol has the possibility of tackling one of the biggest challenges in treating Alzheimer’s – crossing the blood-brain barrier.
The Advance Queensland – Johnson & Johnson Innovation QuickFire Challenge was initially announced in September 24, 2015 and was open to entries from all over the world to encourage game-changing medical innovations to be developed and commercialised in Queensland, with link to the actual stipulations that prize money is spent in Queensland on research and commercialisation services.
The competition drew nearly 100 applicants from around the world, and 12 finalists were selected to pitch their ideas to a panel of Johnson & Johnson Innovation and Queensland Government health innovation experts. Three recipients- one from each category: medical devices, pharmaceuticals and consumer healthcare — were selected and granted a prize of 100,000 Australian dollars funded by the Queensland Government. Golden Biotechnology Corporation won in the pharmaceuticals category for its entry entitled: Antroquinonol Lowers Brain Amyloid-β Levels and Improves Spatial Learning and Memory in a Transgenic Mouse Model of Alzheimer’s Disease.The company will use the prize money to prepare the groundwork for a pilot study of the compound with early-stage Alzheimer’s patients. The company plans to collaborate with institute scientists or a CRO company in Queensland to assess the efficacy and safety of Antroquinonol in a phase II proof of concept clinical trials with the hope of developing a commercially viable drug to meet the growing burden of disease in Taiwan and around the world.