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BioDiem Ltd. (BDM.AX) Releases Half Year Results


2/21/2013 9:39:23 AM

Melbourne, 21 February 2013: Australian infectious disease therapy and vaccine development company BioDiem Ltd (ASX: BDM) today announced its financial results for the half year ended 31 December 2012.

Highlights

• Commercial partner Serum Institute of India (SII) progresses plan to allow international export of BioDiem’s Live Attenuated Influenza Vaccine (LAIV). SII preparing to file documentation with the World Health Organization (WHO) and Drugs Controller General of India to permit the export of seasonal flu vaccines produced using BioDiem’s technology.

• Successful results from two programs of work conducted by French partner VIVALIS (NYSE Euronext: VLS) confirming the ability of LAIV to grow in VIVALIS’ proprietary cell line.

• Agreement signed with RMIT University to investigate new vaccine development using the LAIV technology .

• Anti-microbial (BDM-I) portfolio strengthened with Griffith University collaboration to increase commercial applications and preclinical data from internal programs supporting it as a broad spectrum antimicrobial for a wide range of major market infectious disease. New patents granted in Europe and Japan Patent Office.

• Presentation of the BDM-E disease model results at the International Society of Eye Research in Berlin in July 2012. The result showed BDM-E’s potential to reduce formation of abnormal blood vessel growth; reduce the signs of damage typical to retinitis pigmentosa; and improve the function of the retina and inhibit the death of cells imperative for sight.

• Operating expenditure further reduced through strong cost management.

• Cash position strengthened with $1.87 million (net of costs) raised through a Renounceable Rights Issue. Cash at the end of the period was $2,324,909.

No dividends have been declared or are expected to be declared in the remainder of the fiscal year.

Commenting on the results, BioDiem Chief Executive Officer Julie Phillips said: “The Company has made significant progress in the period as we continue to strengthen the portfolio with significant milestones achieved on all our programs and through new and exciting commercial and research collaborations.”

The attached preliminary final report is based on accounts which have been reviewed. The review report, which was unmodified, will be made available when the company lodges its complete Directors’ and Financial Report.

About BioDiem Ltd

BioDiem (ASX: BDM) is an ASX-listed company based in Melbourne with an international focus on discovering, developing and commercialising world-class research and technology targeting infectious diseases and related cancers. BioDiem’s core technologies include the Live Attenuated Influenza Virus (LAIV), the BDM-I antimicrobial compound and the SAVINE vaccine technology platform. BioDiem has also in-licensed vaccine technologies from Australian National University and the University of Canberra with initial target indications of dengue fever and hepatitis respectively.

The LAIV influenza vaccine is an intranasal vaccine to prevent infection from seasonal and pandemic influenza. The LAIV influenza vaccine can be produced using both egg-based and cell-based manufacturing methods. BioDiem’s egg-based LAIV vaccine technology is licensed to the World Health Organization as part of the Global Pandemic Influenza Action Plan to Increase Vaccine Supply in developing countries. The cell-based LAIV vaccine technology has completed a Phase II clinical trial in Europe in seasonal influenza. Serum Institute of India markets the influenza vaccine, Nasovac™ in India under a license from BioDiem. A licence has also been issued by BioDiem to China-based Changchun BCHT Biotechnology Co.

BDM-I is a synthetic compound targeting the treatment of serious human infections. BDM-I is in the preclinical stage with outlicensing as the intended outcome. BDM-I is active against a range of pathogenic micro-organisms including gram-positive and gram-negative bacteria, fungi and protozoa. Key patents have been granted in Europe, Japan and the US around BDM-I’s antimicrobial activity.

SAVINE (patented Scrambled Antigen Vaccine) is a platform technology for the design of antigens for incorporation into vaccines targeting a range of different diseases. SAVINE antigens, when partnered with technology such as BioDiem's LAIV-based vaccine vector technology, can be used to develop novel vaccines.

BioDiem’s research is ongoing in partnerships with internationally recognised laboratories and commercial groups.

For additional information, please visit www.biodiem.com

Contact

Investors

Julie Phillips, Chief Executive Officer

BioDiem Ltd

Phone +61 3 9613 4100

Email jphillips@biodiem.com

Media

Shevaun Cooper

Buchan Consulting

Phone +61 3 8866 1218 / +61 (0) 421 760 775

Email scooper@buchanwe.com.au



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