VENTURE capital fund OneVentures has announced a $15m deal with Murdoch Childrens Research Institute (MCRI) to fund the development of a game changing treatment to cure peanut food allergies, an $8 billion market.
The investment will forward the development of ProTA, an Australian innovation that allows children with peanut allergy to incorporate peanut products as a regular part of their diet.
The novel action, discovered and developed by MCRI's Professor Mimi Tang, is in the combination of the two components; peanut allergen together with a specific probiotic which has been shown, in clinical trials, to induce "tolerance" to peanut.
This approach has the potential to be used to treat other common food allergies, such as milk, egg, shellfish and other nuts, Tang said.
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