Melbourne, Tuesday 28 February 2012: Australian vaccine development company BioDiem Ltd (ASX: BDM) today announced the release of its interim results for the half-year ended 31 December 2011.
Highlights
- Revenue increase due to receipt of a milestone payment from the Serum Institute of India from the licence of BioDiem’s LAIV vaccine technology.
- BioDiem signed an exclusive licence for the Chinese private sector of BioDiem’s LAIV vaccine technology to China-based Changchun BCHT Biotechnology Co. (BCHT).
- In December 2011 BioDiem acquired Savine Therapeutics Pty Ltd. Savine is a platform technology for the design of antigens for incorporation into vaccines targeting a range of different diseases.
- Research by US Institutes into applications for BioDiem’s BDM-I antimicrobial compound is ongoing.
Commenting on the results, BioDiem Chief Executive Officer Julie Phillips said: “In the past six months we have consolidated our vaccine business by completing transfer to BioDiem of the extensive world rights to the LAIV vaccine, preparing our LAIV vector research program for the next phase of development, and extending the patent position around synthetic compounds BDM-I and BDM-E.
“We have also extended licensing arrangements in both the public and private sectors through agreements with the World Health Organization, the Serum Institute of India (SII), and more recently BCHT in China. Our revenues from our SII partnership have offset expenditures significantly during the period, and we anticipate that contribution from future royalties will grow as a portion of cash inflows. We also expect significant revenues in the current half from our recent LAIV vaccine license agreement with BCHT”.
About BioDiem Ltd
BioDiem is an ASX-listed vaccine development company based in Melbourne focussed on commercialising world-class research and technology. BioDiem’s lead technology is the Live Attenuated Influenza Virus (LAIV), which has been developed as an intranasal vaccine to prevent infection from seasonal and pandemic influenza.
The LAIV influenza vaccine is marketed as Nasovac™ in India by the Serum Institute of India, and is licensed to China-based Changchun BCHT Biotechnology Co. for commercialization in China. LAIV is also licensed to the World Health Organization as part of the Global Pandemic Influenza Action Plan to Increase Vaccine Supply.
LAIV is administered by nasal spray and induces a rapid immune response in the nose and pharynx. The LAIV is also being developed for use in non-influenza vaccines.
BioDiem holds the license for LAIV from the Institute of Experimental Medicine in St Petersburg, Russia where it has been used successfully for over a decade by many millions of people - children, adults and the elderly.
BioDiem has two synthetic compounds BDM-I and BDM-E, which are targeted at infectious and eye diseases respectively. Both are at the preclinical stage with outlicensing as the intended outcome. Antimicrobial BDM-I is active against a range of pathogenic micro-organisms including bacteria, fungi and protozoa, with key patents filed. BDM-E is being developed as a treatment for eye disorders. In September 2010 the US Food & Drug Administration (USFDA) granted Orphan Drug designation to BDM-E for the treatment of retinitis pigmentosa, a degenerative disease of the retina. BioDiem is also researching and developing vaccines and treatments for a range of infectious diseases and cancers including: tuberculosis, hepatitis B, ovarian cancer, melanoma, MRSA and other bacteria, schistosomiasis, biological weapons, Respiratory Syncytial Virus (RSV), a common childhood respiratory infection and nasopharyngeal carcinoma (NPC) which is a common Epstein Barr Virus (EBV)-related cancer common in South East Asia.
For additional information, please visit www.biodiem.com
