Melbourne Australia; 30 January 2013: Starpharma Holdings Ltd (ASX:SPL;OTCQX: SPHRY) today released its Appendix 4C – Quarterly Cashflow report for the period ended 31 December 2012.
The cash balance at 31 December 2012 was $33.2 million. The cash balance excludes the Company’s anticipated R&D tax incentive refund of $5.3 million receivable this financial year.
Total operating and investing cash outflows for the quarter were $4.4 million. The cash burn for the quarter is in line with expectations, with the outflows largely relating to the two bacterial vaginosis (BV) clinical programs for VivaGel ® (treatment and prevention of recurrence). A significant proportion (>50%) of the Company’s YTD cash flow is attributable to the non-recurrent costs for these two clinical programs and this expenditure is eligible for a 45% rebate under the R&D Tax Incentive program. Results of Starpharma’s Phase 2 clinical trial of VivaGel ® for the prevention of recurrence of BV are expected in Q1 2013.
In addition to VivaGel ®, Starpharma’s portfolio of commercial opportunities includes two licences for a VivaGel ®-coated condom, an improved version of the blockbuster cancer drug docetaxel (Taxotere®), multiple drug delivery collaborations and a number of agrochemical programs including an enhanced version of the leading herbicide glyphosate (the active ingredient in Roundup®).
Starpharma’s partnering activities now include drug delivery partnerships with five of the world’s major pharmaceutical companies (including Lilly, GSK and AstraZeneca), and the Company has also signed agreements for the agrochemical use of dendrimer technology with more than half of the top 10 leading crop protection companies globally including Nufarm Limited.
About Starpharma
Starpharma Holdings Limited (ASX:SPL, OTCQX:SPHRY), located in Melbourne Australia, is an ASX 300 company and is a world leader in the development of dendrimer products for pharmaceutical, life science and other applications.
Starpharma’s underlying technology is built around dendrimers – a type of synthetic nanoscale polymer that is highly regular in size and structure and well suited to pharmaceutical uses. Starpharma has three core development programs: VivaGel ® portfolio, drug delivery, and agrochemicals with the Company developing a number of products internally and others via commercial partnerships.
Starpharma’s lead product is VivaGel ® (SPL7013 Gel), a gel-based formulation of a proprietary dendrimer. VivaGel ® is under clinical development for the treatment and prevention of bacterial vaginosis (BV) and also as a vaginal microbicide to Starpharma Holdings Limited (ASX:SPL, OTCQX:SPHRY), located in Melbourne Australia, is an ASX 300 company and is a world leader in the development of dendrimer products for pharmaceutical, life science and other applications.
Starpharma’s underlying technology is built around dendrimers – a type of synthetic nanoscale polymer that is highly regular in size and structure and well suited to pharmaceutical uses. Starpharma has three core development programs: VivaGel ® portfolio, drug delivery, and agrochemicals with the Company developing a number of products internally and others via commercial partnerships.
Starpharma’s lead product is VivaGel ® (SPL7013 Gel), a gel-based formulation of a proprietary dendrimer. VivaGel ® is under clinical development for the treatment and prevention of bacterial vaginosis (BV) and also as a vaginal microbicide to prevent the transmission of sexually transmitted infections including HIV and genital herpes. Starpharma has also signed separate licence agreements with Ansell Limited (ASX:ANN) and Okamoto Industries Inc (Tokyo Stock Exchange) to market a value-added, VivaGel ®-coated condom. Ansell manufactures and sells leading condom brands worldwide, including Lifestyles®, ZERO® and SKYN®. Okamoto is the market leader for condoms sold in Japan, the world’s second largest condom market.
In the wider pharmaceutical and life science fields, Starpharma has both partnered and internal programs in Drug Delivery. Partners include GSK, Lilly and AstraZeneca. In its internal program Starpharma has announced significant tumour- targeting results in its docetaxel (Taxotere®) program, with animal studies showing its dendrimer-enhanced version of docetaxel to have significantly superior anti-cancer effects across a range of important cancer types including breast, prostate, lung and ovarian tumour, when compared to Taxotere® (docetaxel).” The company is also exploring dendrimer opportunities in agrochemicals in a series of industry partnerships with leading industry players including Nufarm (ASX:NUF) as well as with internal programs including an enhanced version of glyphosate (the active ingredient in Roundup®)
Media:
Buchan Consulting
Rebecca Wilson
Mob: +61 417 382 391
rwilson@buchanwe.com.au
Haley Price
Mob: +61 423 139 163
hprice@buchanwe.com.au
Starpharma:
Dr Jackie Fairley, Chief Executive Officer
+61 3 8532 2704
Ben Rogers, Company Secretary
ben.rogers@starpharma.com
www.starpharma.com
Forward Looking Statements
This document contains certain forward-looking statements, relating to Starpharma’s business, which can be identified by the use of forward-looking terminology such as “promising”, “plans”, “anticipated”, “will”, “project”, “believe”, “forecast”, “expected”, “estimated”, “targeting”, “aiming”, “set to”, “potential”, “seeking to”, “goal”, “could provide”, “intends”, “is being developed”, “could be”, “on track”, or similar expressions, or by express or implied discussions regarding potential filings or marketing approvals, or potential future sales of product candidates. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no assurance that any existing or future regulatory filings will satisfy the FDA’s and other health authorities’ requirements regarding any one or more product candidates nor can there be any assurance that such product candidates will be approved by any health authorities for sale in any market or that they will reach any particular level of sales. In particular, management’s expectations regarding the approval and commercialization of the product candidates could be affected by, among other things, unexpected clinical trial results, including additional analysis of existing clinical data, and new clinical data; unexpected regulatory actions or delays, or government regulation generally; our ability to obtain or maintain patent or other proprietary intellectual property protection; competition in general; government, industry, and general public pricing pressures; and additional factors that involve significant risks and uncertainties about our products, product candidates, financial results and business prospects. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. Starpharma is providing this information as of the date of this document and does not assume any obligation to update any forward-looking statements contained in this document as a result of new information, future events or developments or otherwise.
