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CBio listed on teh ASX in Februiary 2010.

The comapny is focused on developing products for the treatment of autoimmune and inflammatory diseases.

CBio was established in 2000 to develop and commercialise treatments for autoimmune diseases. In 2001, extended preclinical studies at the University of Queensland concluded that a heat shock protein identified as chaperonin 10 played a role in down-regulating the innate immune response in patients during pregnancy. Further research suggested that chaperonin 10 appeared to intercede at a very early stage of the inflammatory process to prevent the over-expression of pro-inflammatory cytokines. Based on this research, CBio acquired a worldwide exclusive licence for the chaperonin 10 intellectual property. The registered trademark for CBio’s patented lead molecule is XToll®.

Xtoll resulted in CBIO receiving a $1 million milestone payment from global pharmaceutical firm Novo Nordisk in relation to the development of the drug. The milestone payment was triggered by the recruitment of the 75th patient into the current phase II clinical trial of XToll which will involve 150 patients.

CBio raised $20 million in the five months to February 2010, and more than a further $7 million via the Feb. 2010 IPO.