Monash University spinout founders win 2025 AFR Research Commercialisation Awards
Researchers from the Monash Neuromedicines Discovery Centre, have been awarded the 2025 Australian Financial Review Research Commercialisation Award, for their work in creating two Monash University spinouts.
Professor Chris Langmead and Dr Gregory Stewart received the award for their outstanding work in spinning out their research into two spinout companies and establishing new partnerships to help address the urgent unmet need for new mental health and neurological medicines.
The two spinout companies are Phrenix Therapeutics building a pipeline of highly targeted therapeutics for cognitive, psychiatric, and neurological disorders, and Pacalis Therapeutics pioneering the development of next-generation medicines, targeting serotonin signalling in the brain, which plays a crucial role in mood regulation.
Monash University is a joint winner of the Higher Education Awards’ Commercialisation category with University of Adelaide’s QuantX Labs, a quantum technology innovator supporting Australia’s defence programs.
A Financial Review article about the Award win titled ‘How these two universities cracked the code to commercial success’ says, "commercialising a concept that stems from a radical idea conceptualised inside a university is no mean feat.” For Monash, this is a nod towards the Monash Innovation Ecosystem behind these spinouts every step of the way.
Starting with commercialisations support from Monash Innovation including patent protection and grant applications. Monash Ventures, the University's venture and investment arm, provided cash investments to establish Phrenix and Pacalis and support them at the earlier stages. The continuing and collective support from faculty business development managers, international corporate and investor networks via Nathan Elia in the Monash University North American office should also be acknowledged.
Dr Alastair Hick, Chief Commercialisation Office at Monash University said “Seeing these companies progress is motivation to continue developing and strengthening the Monash Innovation ecosystem so we can support and develop other emerging research to make a difference.
“I was privileged to be the Chair of Phrenix for 2 1/2 years and saw the dedication and amazing work from these researchers in getting Phrenix to where it is today.” he added
The ongoing growth of these spinout companies is now the remit of the executive teams. The Pacalis team is a blend of industry and academic expertise, led by co-founder and Monash university alumnus Dr David Bibby as Chief Executive Officer, and co-founder Professor Chris Langmead, (Director, Neuromedicines Discovery Centre, Monash University) as Chief Scientific Adviser. Pacalis’ other co-founders include Professor Arthur Christopoulos FAA FAHMS (Dean, Faculty of Pharmacy and Pharmaceutical Sciences, Monash University) and the highly regarded pharmaceutical and biotechnology industry veteran, Dr Warwick Tong, as Director and Chair.
The leadership team behind Phrenix Therapeutics includes Professor Chris Langmead CEO and co-founder. Dr Greg Stewart CSO and co-founder, Associate Professor Jess Nithianantharajah (The Florey), VP, Translational Biology & co-founder.
Monash Innovation continues to support Pacalis through the Monash Venture Studio, a group workshop initiative providing advice, expertise, and community support to accelerate research entrepreneurship and innovation.
Read more about the success of other spinout companies, and the Monash Innovation Ecosystem in the Monash Innovation 2024 Year in Review Report.