Researchers from the University of Queensland developed the breakthrough drug, inspired by the deadly venom, which could save thousands of lives each year.
The peptide, also known as Hi1a, mimics the venom of a funnel-web and can both protect the heart mid-heart attack and improve viability of a donor heart.
The federal government has pumped $17.6 million in funding to the research project, known as The Heart Rehab Clinical Trials: Therapeutics to Protect the Human Heart project.
The project soon will kick off clinical trials for heart attacks and heart transplantation.
It’s hoped researchers will be able to bring the treatment to market within 10 years.
Professor Glenn King, who leads the project, said the drug has the potential to save thousands of lives and improve quality of life for survivors.
“This investment will fast-track development of the world’s first cardioprotective drug, which was inspired by a molecule discovered in the venom of an Australian funnel-web spider,” he said.
“This drug has the potential to not only save thousands of lives each year, but also to drastically improve the quality-of-life for heart attack survivors by minimising the injury to their heart.”
Heart attacks are a leading cause of death in Australia.
Each year, more than 55,000 Australians will have a heart attack and around 7000 will die from one.