InCarda Therapeutics sets up Australian subsidiary to progress research

California, USA-based biotech firm InCarda Therapeutics, which is focused on the development and commercialization of therapies for cardiovascular conditions via the inhalation route, today announced that it has established a subsidiary business in Australia.

InCarda is planning to undertake its first human clinical trial in Australia in the first half of 2016. The company is collaborating with leading investigators and medical centers in Adelaide and Melbourne. In addition, InCarda has contracted with Australian clinical research organizations (CROs) and is conducting formulation manufacturing and testing in Australia - both in preparation for the upcoming trial. Government incentives are available for conducting such R&D activities in Australia, and thus, InCarda's clinical trial will be substantially subsidized.

"Australia has become an important region for medical research given its resident world-class clinicians, many of whom are involved in conducting clinical trials, as well as its strong collaborators for pharmaceutical development," stated Grace Colon, chief executive and president of InCarda, adding: "Establishing a subsidiary in Australia makes excellent sense for InCarda given the subsidies we will benefit from as well as the vast infrastructure available to us as we prepare to enter the clinic with our first product targeting paroxysmal atrial fibrillation."