Paragen Bio is a Queensland biotech startup developing treatments for autoimmune diseases by harnessing secretions from parasitic hookworms. The company is based at James Cook University. It launched with an initial $6 million investment to continue development of its therapeutics. Backers include US-based AbbVie Ventures and Australian venture capital firms OneVentures and Brandon Capital via the Medical Research Commercialisation Fund. OneVentures' investment is backed by the Australian government's Biomedical Translation Fund, a program focused on therapeutics and medical devices with clear commercial pathways or close to clinical development. Paragen intends to use the funding to continue developing its hookworm-secretions-based treatments for autoimmune conditions.

Total raised

$6M

Funding rounds

1

Latest round

Equity

Latest activity

Aug 2018