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Patrys listed on the Australian Stock Exchange (ASX) in 2007 to develop new therapies for the treatment of cancer. It continues to leverage its expertise in antibody development through more recent work developing a novel, versatile antibody platform called deoxymabs as human therapeutic agents for treatment and management of cancer. In 2016, Patrys secured an exclusive, worldwide license from Yale University for the use of deoxymab antibodies. A collaboration with Monash University is continuing to assess the impact of the deoxymabs PAT-DX1 and PAT-DX3 on vasculitis.

In 2026, Patrys completed the acquisition of Australian drug reformulation company Reliis, marking an important milestone in its strategy to broaden its clinical-stage therapeutic pipeline with a differentiated, lower-risk asset with a clear path to market. The acquisition included a program to develop an intravenous formulation of quetiapine, — a drug with existing safety and efficacy data — targeting the significant unmet market of acute delirium.

By building on established quetiapine data, population pharmacokinetic modelling, and hybrid regulatory pathways, the company expects a shorter, more predictable development timeline with clear regulatory precedent — backed by strong clinician demand — enabling faster market entry and adoption. The acquisition is designed to bridge timeline gaps and reduce development risk, generating nearer-term value for Patrys.