Breakthrough Victoria is investing $500,000 in Deftbiotech, a Melbourne-based bio technology startup developing a more effective topical treatment for onychomycosis - a persistent and often painful fungal nail infection affecting up to 500 million people globally.
Investment | $1 million |
The Company | Deftbiotech |
The University Partner | La Trobe University |
Breakthrough Victoria | $500,000 |
| La Trobe Eagle Fund | $500,000 |
ABOUT
Breakthrough Victoria is investing $500,000 in Deftbiotech, a Melbourne-based bio technology startup developing a more effective topical treatment for onychomycosis - a persistent and often painful fungal nail infection affecting up to 500 million people globally.
The investment is made through Breakthrough Victoria’s University Innovation Platform (BVUIP) in partnership with La Trobe University’s Eagle Fund, which is contributing a further $500,000, bringing the total investment to $1 million.
Deftbiotech has an all-female leadership team, led by two of Australia’s most distinguished scientists: Emeritus Professor Marilyn Anderson (CEO) and Emeritus Professor Adrienne Clarke AC (Chairperson), who continues to play an active leadership role in advancing biotech innovation. The pair co-founded the start up with Dr Susan Lachal from the University of Melbourne.
The investment will support Deftbiotech’s next phase of development as it advances a novel topical treatment with the potential to significantly improve patient outcomes.
THE PROBLEM
Onychomycosis causes nail discolouration, thickening and distortion, and can lead to serious complications for people living with diabetes or compromised immune systems.
Despite its prevalence in the population, current treatment options are limited. Oral antifungal medications can cause toxic side effects, while existing topical treatments typically have low cure rates - between 3 per cent and 17 per cent - and require daily application for more than a year, often with high relapse rates.
As a result, treatment uptake is low. It is estimated that only around 3 million of the 23–40 million people in the United States with onychomycosis currently undergo treatment, largely due to the cost, duration and limited effectiveness of existing options.
By 2032, the global market for onychomycosis treatments is estimated to reach USD $9.5 billion, underscoring both the scale of the unmet need and the opportunity for more effective solutions.
THE SOLUTION
Deftbiotech’s solution is based on Pezadeftide, a groundbreaking antifungal peptide derived from plant defensins.
Pezadeftide works in a completely different way to existing treatments, making it a promising option for tackling drug-resistant fungal infections. It is designed to be safe, nontoxic and highly effective, offering the potential for improved cure rates and significantly reduced treatment times compared to current therapies.
The combined $1 million investment from Breakthrough Victoria and La Trobe University will support Deftbiotech’s ongoing development and commercialisation efforts as the company progresses towards clinical and market readiness.