Genesis Biomedical Ltd has signed a term sheet with The University of Western Australia (UWA) to exclusively license-in and develop a novel drug for sepsis through its wholly owned subsidiary Back To Health Australasia Ltd.

Genesis will fund research at UWA undertaken at the School of Medicine and Pharmacology. The research program is based on an established drug that has been shown by UWA researchers to have new promise in sepsis treatment. The research will involve a proof-of-concept study in established animal models of sepsis and if successful will move to clinical trials. Genesis will pay UWA milestone payments and 10% royalties on income arising from license or sale of the resulting drugs.