The Australian Government’s Medical Research Future Fund (MRFF) has awarded stem cell research company Magellan Stem Cells $7 million as funding for the company’s Phase III human trial of Magellan’s MAG200.
MAG200 is an off-the-shelf donor stem cell therapy for osteoarthritis, a joint disease-causing pain and damage, with a Phase III trial starting in 2025.
The $7 million grant comes in the wake of research findings published by Magellan in open-access research journal Osteoarthritis and Cartilage Open that showcased MAG200’s potential for significant therapeutic benefits.
“We are living through a supercharged period of discovery in health and medical research,” said Australian Federal Minister for Health and Aged Care, The Hon Mark Butler during his announcement of the grant, adding the Albanese government is “proud to support” these researchers.
“Stem cell therapies could provide innovative treatments for many chronic and inherited diseases we can’t yet treat effectively.”
Magellan’s Phase III osteoarthritis trial is one of six projects sharing $34.5 million supported by the Medical Research Future Fund’s (MRFF) Stem Cell Therapies Research Grant Opportunity.
According to lead researcher and chief medical officer at Magellan Stem Cells, associate Professor Freitag, earlier trials of MAG200 observed “sustained pain improvement” at a year of follow-up and “doubled quality of life scores” for those who received the treatment.
Keryn Hutchinson, an osteoarthritis patient who underwent the MAG200 trial, expressed satisfaction with the treatment results.
“It’s given me my life back,” she said.
Hutchinson stated prior to the MAG200 treatment that she had relied on “painkillers, ice packs and ‘living with it’.
She said her scans have shown cartilage regrowth in her affected knee.
Freitag expressed gratitude for the $7 million grant.
“The grant is a vote of confidence in the future of the Australian biotech sector, stem cell technology and Magellan’s ground-breaking research.”