A Hong Kong-born biochemist and his Australian research team have developed a drug they believe can help obese people lose weight, which has access to a potential multi-million-dollar market.
Having completed animal trials, biochemistry professor Frank Ng of Melbourne's Monash University is seeking investors and negotiating with European and United States companies to conduct human trials and develop his drug.
Mr Ng has been a visiting professor at Shanghai Institute of Biochemistry for three years.
But, he says, there are too few fat people in China to test his development. The real problem - and the potential fortune - is in the West.
The professor says the drug, developed as a result of his work on diabetes, is unique and has none of the potentially harmful side-effects of other obesity treatments.
Despite this, he has failed to attract funds from Australian drug companies which concentrate on marketing rather than research and development.