Regular news within the Australian biotech industry.
- Biosignal granted two Australian patents
- GSK to buy ID Biomedical
- Novartis to buy 20 per cent stake in Alnylam
- Panbio releases new test for Japanese encephalitis
- Peptech enters into manufacturing agreement for anti-TNF dAb therapeutic
- Pfizer and Sanofi-Aventis' inhalable insulin recommended for release by FDA scientific panel
- Prima Biomed executes licence and option agreement with Xencor
- Proteome part of consortium awarded US$20 million grant
- Roche settles PCR litigation with Promega
- Sigma announces 19.8 per cent profit increase in mid-year results
Biosignal granted two Australian patents
September 12 – Australian listed company Biosignal Ltd has been granted two Australian patents covering its antibacterial technology. The first patent relates to Biosignal's active molecule antimicrobial coatings, which are being developed to reduce risk of infection from contact lenses. The second patent covers a further possible commercialisation avenue by protecting use of Biosignal's active compounds in combination with household and industrial cleaning products.
[Source: Company Announcement]
GSK to buy ID Biomedical
September 7 – GlaxoSmithKline has announced a definitive agreement for GSK to acquire the Canadian vaccines manufacturer ID Biomedical. Under the agreement, unanimously approved by the Boards of Directors of both companies, GSK will pay CDN$35 per share to ID Biomedical's shareholders, for a total of approximately CDN$1.7 billion. If the plan is approved by ID Biomedical's shareholders and regulatory bodies, ID Biomedical will become a wholly-owned subsidiary of GSK. The move enhances GSK's vaccine presence in the US, particularly in the flu vaccine market. GSK's product Fluarix was approved by the FDA at the end of August, while ID Biomedical's vaccine Fluviral has been granted fast track status and is eligible for priority review.
[Source: Company Announcement]
Novartis to buy 20 per cent stake in Alnylam
September 7 – Swiss company Novartis AG has announced a deal worth up to US$700 million with US-based biopharmaceutical company Alnylam Pharmaceuticals Inc to develop drugs based on manipulating natural genetic mechanisms. Under the agreement, Novartis will make an upfront payment of US$56.8 million to acquire around 4.2 million shares of Alnylam stock at US$11.11 per share. Novartis will also receive a non-exclusive option to use Alnylam's RNA interference technology, which selectively silences disease-causing genes, in its own drug development programs. The partnership is initially slated to last for three years, with two further one-year extension options. If the collaboration is successful, Novartis estimated the potential benefits to Alnylam at US$700 million plus royalties.
[Source: AP]
Panbio releases new test for Japanese encephalitis
September 7 – Australian company Panbio Limited has begun shipping a new test for Japanese encephalitis (JE). The JE dengue IgM Combo assay diagnostic has high test specificity and should assist clinical diagnosis and surveillance activities surrounding the spread of the disease. Around 50,000 cases of JE are reported each year, almost exclusively in the Asia-Pacific region. Diagnosis of JE is often complicated because its symptoms mirror those of other flaviviruses, particularly dengue, bacterial agents of meningitis, malaria and scrub typhus. The first shipments of the product have gone to India, which is currently battling a JE outbreak that has resulted in 1,145 reported cases, including 296 deaths.
[Source: Company Announcement]
Peptech enters into manufacturing agreement for anti-TNF dAb therapeutic
September 12 – Peptech Limited has signed an agreement with an unnamed biopharmaceutical manufacturer to produce its anti-TNF domain antibody (dAb) protein to Good Manufacturing Practice (GMP) standards. The antibody will be suitable for use in humans and in other non-human preclinical trials. The dAb, initially generated by UK company Domantis Limited, was transferred to Peptech under a research agreement. In a preclinical study, the protein showed high potency in combating rheumatoid arthritis. Peptech Executive Chairman Mel Bridges said that the initial phase of manufacturing indicated that the protein could be produced in commercial levels. Peptech aims to commence clinical testing in the first half of 2007.
[Source: Company Announcement]
Pfizer and Sanofi-Aventis' inhalable insulin recommended for release by FDA scientific panel
September 8 – An advisory panel has urged the US Government to approve Exubera, an inhaled insulin product jointly developed by Pfizer and Sanofi-Aventis in conjunction with Nektar Therapeutics. The Food and Drug Administration scientific panel voted 7-2 to recommend approving the drug for use in adults with Type 1 or Type 2 diabetes. The powder is quickly absorbed into the bloodstream and could become an alternative to insulin shots for adults with diabetes. The FDA is not obligated to follow the recommendations of the panel, although in practice it usually does. If approved, Exubera would be the first non-injectable insulin available in the US since the discovery of insulin in the 1920s.
[Sources: Reuters, Company Announcement]
Prima Biomed executes licence and option agreement with Xencor
September 8 – Prima Biomed's subsidiary Arthron Pty Ltd has granted US biotech company Xencor a non-exclusive licence to utilise Arthron's FcγRIIa receptor technology for up to two years in an internal research program. The program will study the interaction of Xencor's engineered Fc domains with FcγRIIa, and could potentially lead to improved therapeutic cancer antibodies. Under the agreement, Arthron receives an upfront fee and a subsequent annual licence fee. Xencor may exercise an option to receive a non-exclusive licence to utilise Arthron's FcγRIIa technology for the development and commercialisation of products arising out of the research program, in which case Arthron will receive an additional licence fee and will be eligible for milestone payments and royalties on net sales of resulting products. Prima retains all other rights associated with its development of the Fc receptor technology.
[Source: Company Announcement]
Proteome part of consortium awarded US$20 million grant
September 7 – The US National Institute of Allergy and Infections Diseases (NIAID) has selected the Medical University of Wisconsin to host a 'Center for Medical Countermeasures against Radiation' to develop therapies for treating victims of radiological terrorism or radiation accidents. Australian company Proteome Systems will participate in the US$20 million centre by providing its novel synthetic catalytic scavengers as potential drugs, and working with the other members of the consortium to develop these compounds for clinical application. Proteome's scavenger drugs have been shown to prevent various forms of radiation-induced tissue damage, and are therefore considered to be potentially promising agents for treating victims after radiation exposure. Proteome scientists will collaborate with investigators in the MCW Center to develop the therapeutic value of its small molecule compounds in this clinical application.
[Source: Company Announcement]
Roche settles PCR litigation with Promega
September 12 – Roche Diagnostics has announced a settlement with Promega Corporation of all PCR-related litigation in the US, Europe and Australia on mutually satisfactory terms. The initial lawsuit was launched by Roche in 1992. The specific terms of the settlement remain confidential. Roche indicated that the amount of the settlement is covered by existing litigation provisions in its financial statements, and that there would be no additional impact on Roche's net income arising out of the settlement. A spokesperson for Promega said the company will continue to provide the same products and services as it did prior to the commencement of the proceedings.
[Sources: Company Announcement, GenomeWeb News]
Sigma announces 19.8 per cent profit increase in mid-year results
September 7 – Sigma Company Limited has announced after-tax profit of AU$31.65 million for the six months ending 31 July 2005, an increase of 19.8 per cent over the same period last year. Growth was propelled by a 24 per cent increase in EBIT in the Pharmaceutical Division to AU$37.8 million, on sales of AU$167 million. Overall group sales revenue was up 1.5 per cent to AU$1.04 billion. Sigma directors declared an interim dividend of 14.5 cents per ordinary share fully franked, up from 10.5 cents last year. Managing Director Elmo de Alwis said that Sigma was predicted to fulfil the full-year forecast of 15 per cent after-tax profit growth for the 2005/6 full year.
[Source: Company Announcement]
