24 March 2011, Melbourne, Australia: Benitec Limited (ASX:BLT), a world leader in RNA-based gene silencing for human therapeutics, is pleased to announce that New York-based independent equity research firm Viriathus Research LLC has published a comprehensive Overview Report on the Company.
The report reflects the significant changes at Benitec over the past nine months, in particular the positive outcome from the United States Patent and Trademark Office (USPTO) with regards to Benitec’s foundational Graham patent for the silencing of genes using DNA-directed RNA interference (ddRNAi) technology.
With Benitec’s dominant worldwide intellectual property position in the application of ddRNAi for human therapeutics confirmed, the report reviews the commercial potential for Benitec’s technology and its four in-house and two out-licensed programs in pre-clinical and clinical development, one of which is partnered by Benitec’s licensee with global pharmaceutical company Pfizer. These programs are focused on addressing chronic and life-threatening medical conditions with high unmet need, and an achievable route to market.
The report concludes that, “The Company’s DNA-directed RNA interference (ddRNAi) technology platform is broadly applicable to any human disease or health condition that is fundamentally associated with an identified specific gene target. Therefore, the technology has the potential to revolutionize drug development and the healthcare industry.”
The research report is available at the Company’s website www.benitec.com or at http://www.viriathus.com.
About Benitec www.benitec.com
Benitec Limited is developing new novel treatments for chronic and life-threatening conditions based on a transformational technology, DNA-directed RNA interference (ddRNAi) - sometimes called expressed RNAi. The technology’s potential to address unmet medical needs and, potentially, to cure disease results from the demonstrated ability to permanently silence genes which cause the condition.
Benitec now either owns or exclusively licences from CSIRO more than 40 granted or allowed patents in the field of RNA interference for human therapeutic applications. Patents have been granted in key territories such as the USA, the UK, Japan, Europe, Canada and Australia. In addition, Benitec has almost 50 patent applications pending for which it is the owner or exclusive licensee from CSIRO, and has further intellectual property under development as a result of its pipeline development program.
Benitec is headquartered in Melbourne, Australia and trades on the Australian stock exchange under the symbol “BLT”. The Company was founded in 1997 and has been publicly held since 2001. The Company aims to deliver a range of novel ddRNAi-based therapeutics to the clinic in partnership with the pharmaceutical industry. In-house it is pursuing a focused R&D strategy in infectious diseases, cancer and chronic cancer-associated pain, as well as programs with licensees that have advanced to pre-clinical and/or clinical trials.
About Viriathus Research www.viriathus.com
Viriathus Research LLC is a quality-leading New York-based independent equity research company that provides insightful, in-depth research coverage and informational reports to emerging growth companies worldwide and the institutions that invest in them.
Viriathus Research LLC received $25,000 from Benitec in return for report authoring and distribution services.
For Further Information
College Hill Life Sciences
Sue Charles (Global/Australia)
Daniel Gooch (Europe)
Tel: +44 (0)20 7866 7866
Rebecca Skye Dietrich (US)
Tel: +1 (857) 241 0795
At the company:
Dr Peter French
Chief Executive Officer
Tel: +61 (0)412 457 595