A world-leading US biotech company is setting up its Asia-Pacific headquarters in Parkville.
It took two years of negotiating with the Andrews government but Praxis Precision Medicines will finally announce the new research and development centre today.
Praxis design “drugs of the future”, in particular for brain diseases, epilepsy, autism, and will be led by the best scientists and doctors Victoria has to offer.
It’s expected to be a massive boon for the local economy with over 100 new jobs to be created and setting up
Praxis founder and neurologist, Dr Kiran Reddy said,
“We take our inspiration from what we’ve seen in the cancer area,” he said.
“Only now are brain disorders catching up, and we’re now recognising that many of these disorder come down to an imbalance in the brain networks.”