The iQ Group Global celebrates 10 years of innovation

Today marks a major milestone for The iQ Group Global with its 10th anniversary. What started as a bold vision to accelerate medical innovation by CEO and founder Dr George Syrmalis in 2011, has evolved into an internationally recognised bioscience investment consortium, championing a portfolio of world-first innovations in the fields of diagnostics and oncology.

The Group’s inception began with its innovative bioscience investment model and the launch of iQ3, iQX and iQG Ltd (formerly iQN) from 2011 to 2013. In 2015, the now award-winning Australian healthcare sales organisation Farmaforce was listed on the Australian Stock Exchange (ASX).

With the unique structure in place, The Group acquired its first piece of technology in 2016 from the University of Newcastle. Invented by Professor Paul Dastoor in 2013, the Biosensor platform was acquired with the vision of developing a pipeline of non-invasive point-of-care diagnostic tests, starting with the Saliva Glucose Biosensor to replace invasive finger-prick glucose testing for people with diabetes. In 2017 and 2018, patents were granted for the Saliva Glucose Biosensor in the US and China.

As the development of the Biosensor platform continued, in 2019 The Group launched oncology company OncoTEX and further expanded its asset portfolio with the acquisition of TEX Core, a first-in-class oncology drug platform. Partnering with The University of Texas at Austin and MD Anderson Cancer Center in the US, development began on a pipeline of well-tolerated, MRI-detectable cancer therapies with the ability to overcome drug resistance in solid tumours. The first drug candidate OxaliTEX, indicated for ovarian cancer, continues development.

In 2020, COVID-19 became a global threat. As world-leading institutions turned their research and development focus to controlling the pandemic, The iQ Group Global commenced collaborations with The Wyss Institute for Biologically Inspired Engineering at Harvard University. The Wyss Institute’s eRapid biomarker detection technology was licensed to GBS Inc., The Group’s biosensor diagnostics company, for the development of a rapid point-of-care tests for SARS-CoV-2 antibodies using the Biosensor platform.

Despite the pandemic in 2020, The Group was named one of Australia’s Most Innovative Companies for the second consecutive year and listed GBS Inc. on the NASDAQ global market.

In 2021, The Group continues to be focused on executing on its objectives.

“At The iQ Group Global, our mission to create the medicines of tomorrow has never been more relevant, nor more urgent, having witnessed the fragility of our global health in the wake of the pandemic,” Dr Syrmalis said.

“Looking back at the last 10 years, I am proud of The Group’s continued contributions to the world-stage of biotech and science. These milestones wouldn’t have been possible without the fortitude, imagination, trust and support of staff, shareholders and directors.

“Our aim is to accelerate the development of innovative medicines that improve lives by translating discoveries from the lab bench to the bedside. We are steadfast with our vision to create life-changing medical innovations and look forward to the next chapter of our journey.”

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