The iQ Group Global named one of Australia’s Most Innovative Companies for second consecutive year

The iQ Group Global is honoured to be recognised as one of Australia and New Zealand’s Most Innovative Companies for the second year in a row.

The prestigious annual list, published by The Australian Financial Review and Boss Magazine, is based on a rigorous assessment process managed by Australia’s leading innovation consultancy, Inventium, in conjunction with a panel of industry expert judges.

The iQ Group Global ranked 6th on the Health Industries list, from more than 600 nominated organisations across Australia and New Zealand. The assessment measures a top innovation implemented in the past two years. Specifically, the judges look at how valuable the problem is that the innovation is solving, the quality and uniqueness of the solution, and the level of impact of the innovation. Internal elements such as innovation culture, strategy, resources and process, which demonstrate a sustainable and repeatable approach to innovation, are also assessed.

The iQ Group Global was recognised for its innovation OxaliTEX, a first-in-class oncology drug candidate indicated for platinum-resistant ovarian cancer. The Group was also recognised for its unique enterprise model, which is designed to find, fund and develop life-changing bioscience discoveries, and take them to the people who need them most.

Preclinical data has shown OxaliTEX has the ability to kill cancer cells even when tumors are advanced and platinum-resistant. Ovarian cancer is the number one cause of gynecological cancer deaths globally, with more than 295,000 women diagnosed every year and only 47% surviving beyond five years. The iQ Group Global is working together with researchers and inventors at the University of Texas at Austin and the MD Anderson Cancer Center to commence clinical trials in the next 12 months.

“At The iQ Group Global, our mission to create the medicines of tomorrow has never been more relevant, nor more urgent,” Dr George Syrmalis, Group CEO of The iQ Group Global said.

“We are thrilled to be recognised as one of Australia’s Most Innovative Companies for the second year in a row as we develop our flagship life science assets to create tangible medical innovations for the people who need them most. As we progress toward clinical trials, we are hopeful that OxaliTEX will provide more efficacious treatment options for cancer patients globally,” he said.

The iQ Group Global was recognised as one of Australia’s Most Innovative Companies in 2019 for the Saliva Glucose Biosensor innovation, the first non-invasive replacement for finger-pricking for people with diabetes. The Biosensor technology is now currently being used to develop a non-invasive, real-time SARS-COV-2 test to monitor exposure and immunity levels at scale in the fight against COVID-19.

About The iQ Group Global

The iQ Group Global is a consortium of companies that find, fund and develop bioscience discoveries to create life-changing medical innovations. The Group provides a turnkey solution for bioscience companies, spanning corporate advisory and investment banking, through to research, development, and commercialisation of life science assets.

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About OxaliTEX

OxaliTEX is the first candidate of a new class of oncology drugs with the ability to increase the efficacy of platinum-based therapy for ovarian cancer patients, and significantly improve their quality of life. The lead indication for OxaliTEX is platinum-resistant ovarian cancer, the number one cause of gynecological cancer deaths globally.


About TEX Core

TEX Core is a first-in-class oncology drug platform with the ability to develop a pipeline of novel oncology compounds. TEX Core conjugates texaphyrin (a well-researched molecule in the cancer area) with oncology pharmaceuticals (such as platinum-based drug therapies) to form novel oncology drug candidates that are targeted only to the tumor (drug-sensitive and drug-resistant solid tumors), well-tolerated andMRI-detectable. The first TEX Core oncology compound to be developed is OxaliTEX, the lead indication for which is platinum-resistant ovarian cancer.

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About the AFR BOSS Most Innovative Companies list

The AFR BOSS Most Innovative Companies list (previously the BRW Most Innovative Companies list) is now in its ninth year. The list ranks the most innovative organisations in Australia and New Zealand, by industry, and is the only national list of its kind. The list is judged and compiled by Inventium – Australia’s leading innovation consultancy. Inventium uses a unique, scientifically proven approach to help organisations grow through innovation. In 2020, the list comprised of ten industry lists, compiled from over 600 nominations.

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About The Australian Financial Review

For more than 50 years The Australian Financial Review has been the authority on business, finance and investment news in Australia. It has a reputation for independent, award-winning journalism and is essential read-ing for Australia’s business and investor community. The Australian Financial Review is owned by Fairfax Media Limited [ASX:FXJ], a leading multi-platform media company in Australasia.

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