Company news
- Acrux, Monash and Soltec in IP-swap agreement
- Agenix to commence clinical trials
- Antisense in MS advance
- Benitec and Ozgene enter gene silencing transgenics collaboration
- Biota rejects Bigshop.com board demand
- Cardia announces biotech restructure
- Cerylid receives innovation award
- Cochlear appoints new Chairman
- Compumedics receives sleep treatment patents
- Eiffel forms scientific advisory board
- pSivida subsidiary to develop diagnostic skin patch device
- ResMed receives Forbes' accolade; files patent infringement suit
- Sirtex receives humanitarian device award
- VRI Biomedical targets global allergenics market and appoints new COO
- Xcell withdraws funding from skin cancer project
Acrux, Monash and Soltec in IP-swap agreement
9 October - Acrux Ltd has entered into an expanded licensing agreement with Monash University. In return, Monash has expanded its licence for the ACROSS skin penetration enhancer technology to Acrux subsidiary Drug Delivery Solutions. Simultaneously, DDS has sub-licensed its fields of antipsoriatics and local anaesthetics to Soltec Research Pty Ltd, a subsidiary of US corporation Connetics.
From all of these new licensing deals, Acrux - in conjunction with its subsidiaries, affiliates and partners - will be able to develop transdermal products in the antipyretics field. This way, the IP generated from the original research at the Victorian College of Pharmacy will be maximised, with each company using its individual expertise. Overall, patients will benefit from improved topical delivery of drugs. This is hoped to assist with the management of dermatological diseases.
[Source: Company Announcement]
Agenix to commence clinical trials
16 October - Brisbane-based biotech Agenix Ltd is to carry out the first human trials for its blood clot imaging project, ThromboView®. The trials are to be managed by dedicated clinical trials facility Q-Pharm, in conjunction with the Royal Brisbane Hospital. The Phase I trial, to begin early next year, will test the safety and efficacy of ThromboView® in a group of healthy volunteers. The technology is designed to improve the diagnosis and treatment of Deep Vein Thrombosis and Pulmonary Embolism, via the use of radiolabelled antibodies to detect blood clots. The clots are detected with an imaging camera, visible because the antibodies attach to the clots after their injection. Information from this Phase I trial is expected to be used in an application to the US Food and Drug Administration, to enable further trials later next year.
[Source: Company Announcement]
Antisense in MS advance
8 October - Antisense Therapeutics Ltd announces it has identified a novel compound for the treatment of Multiple Sclerosis, with the successful completion of pre-clinical animal studies. The studies, which included toxicology and pharmacokinetics, now enable the company to move forward to recruiting volunteers for human trials. The compound, ATL1102, is thought to have applications for the treatments of other inflammatory diseases in addition to MS, such as asthma and rheumatoid arthritis. Plans to move forward to the Phase I trial are now underway, with protocol preparations and dosing calculations being worked on.
[Source: Company Announcement]
Benitec and Ozgene enter gene silencing transgenics collaboration
11 October - Gene silencing technology company Benitec announces it has entered into a further collaboration with Ozgene, a leader in the field of transgenic mice and rat models. Under the collaboration, the two companies are to develop the first rats to be capable of shutting down specifically targeted genes. The agreement combines Benetic's expertise in gene silencing with Ozgene's TranzEmbryoTM technology. Expected from the six-month collaboration is an entirely new class of animals, in which targeted genes can be "shut down" in a precise and controlled manner.
[Source: Company Announcement]
Biota rejects Bigshop.com board demand
21 October - Biota Holdings Ltd has rejected a request from Mr Farooq Khan and Mr Victor Ho, of Bigshop.com, for two seats on its board. The request, made on 1 October, was refused for the following reasons:
- Mr Khan and Mr Ho failed to provide information as to their suitability to sit on the board and that such information was not readily available from other sources; and
- Inquiries by the board established that Mr Khan and Mr Ho's market experience and skills were not appropriate for Biota Holdings, given its specialised position in biotechnology.
Bigshop.com has recently acquired a substantial shareholding in the company. Biota notes that Mr Khan has a history of acquiring minority shareholding positions in companies with significant cash reserves, then employing that position to attempt to take board control.
Biota's board reaffirms its commitment to rebuilding shareholder value by establishing the company and invites all shareholders to its AGM on 1 November.
[Source: Company Announcement]
Cardia announces biotech restructure
10 October - Cardia Technologies Ltd announces it has established a 100% owned subsidiary company, Big Pharma Ltd, to which all of Cardia's medical biotechnology projects will be assigned. Under the new structure, Cardia will subscribe to shares in Big Pharma, with the proceeds to be used to fund the next stage of its ISF-Diabetes type 2 project. This project is a collaboration between Cardia (assigned to Big Pharma), the International Diabetes Institute and Monash University. Cardia believes the restructure will potentially enable a company fully focussed on medical biotechnology; autonomous management by Big Pharma of projects assigned to it; the attraction of new board members with medical expertise; and the generation of new opportunities in research and investment for the company. An IPO is also being considered.
[Source: Company Announcement]
Cerylid receives innovation award
22 October - Cerylid Biosciences Ltd has received a Commendation for Innovation Excellence from the Victorian Government. The award, bestowed as part of the 2002 Governor of Victoria Export Awards, was made in recognition of the company's position as an industry leader in the discovery of new pharmaceuticals from natural sources. Awarded annually, the awards acknowledge excellence in business practices, technology and customer services. Cerylid was the only biotech to receive an award.
[Source: Company Announcement]
Cochlear appoints new Chairman
22 October - Cochlear Ltd announces the appointment of Mr Tommie Bergman as its new Chairman. The departing Chairman, Professor Penington AC, is retiring in line with statutory age requirements having chaired the company since 1995. Mr Bergman, who was appointed a non-executive Director and Deputy Chairman in January this year, is currently also Deputy Chairman of WMC Ltd and a non-executive Director of Amcor Ltd and Smorgon Steel Ltd. He brings to Cochlear significant international management experience, having worked with a variety of global companies.
[Source: Company Announcement]
Compumedics receives sleep treatment patents
11 October - Medical technology company Compumedics Ltd announces it has been awarded two US patents for developments in the treatment of sleep disorders. The two patents apply to the company's technologies in treating the common sleep disorder, obstructive sleep apnoea. The disorder is treated with a continuous positive airway pressure (CPAP) device, which is a small air pump attached to a mask which keeps the air passages open during sleep. One patent covers a mask with integrated sensors, whilst the other covers a sleep-linked automatic gas delivery system. However, it is the combination of these two technologies which promises advances in the treatment of the disorder. The integrated sensors monitor brain activity to measure the quality of a patient's sleep. This information is then used to control the rate of air delivered from the pump, which in turn assists patients to enjoy a better-quality sleep. Clinical trials to determine the benefits of the technology have already commenced.
[Source: Company Announcement]
Eiffel forms scientific advisory board
8 October - Eiffel Technologies Ltd has formed a five-member scientific advisory board. Members of the panel include experts from industry and academia in the fields of pharmaceuticals and drug delivery. Both North American and European markets are represented. The members are:
- Professor Robert Langer, a Professor of Chemical Engineering at the Massachusetts Institute of Technology;
- Professor Ronald T Borchardt, the Solan E Summerfield Distinguished Professor of Pharmaceutical Chemistry at the University of Kansas and Professor at the Victorian College of Pharmacy in Melbourne;
- Professor David Ganderton, a UK-based specialist in the pulmonary delivery of pharmaceuticals;
- Steve Harris, Chairman of Proteome Sciences in London; and
- Professor Anthony Hickey, Professor of Drug Delivery and Deposition and Associate Professor of Pharmaceutics at the University of North Carolina.
The Advisory board is to assist Eiffel in developing and commercialising its supercritical fluid technology, providing assistance with research and technical issues and identification of market opportunities.
[Source: Company Announcement]
pSivida subsidiary to develop diagnostic skin patch device
9 October - pSivida Ltd's UK subsidiary, psiMedica, has successfully identified novel human diagnostic products using its BioSiliconTM-based device. In this latest research, company researchers have demonstrated that skin patches containing BioSilicon wafers can be used to collect sweat and identify disease markers. This new technology will now enable the generation of new diagnostic products, which differ from other products as they alleviate the need to use invasive techniques when performing diagnostic experiments. BioSilicon also demonstrates sensitive measurement and high purity. The product is expected to break into the market for the analysis of body fluids, currently valued at US$19.1bn.
[Source: Company Announcement]
ResMed receives Forbes' accolade; files patent infringement suit
14 October - For the sixth consecutive year, Medical equipment manufacturer ResMed Inc has achieved a place on the Forbes "200 Best Small Companies in America" list, in 18th place. The company was also the top-ranked company to be headquartered in San Diego, and the fourth-ranked company in California. Criteria for placement on the Forbes list include previous-year sales of between US$5m and $600m, maintaining a share price above US$5, and having a net margin above 5%.
In a separate announcement, the company has filed a patent infringement suit against Respironics Inc in the San Diego Federal District Court. In the suit, ResMed alleges that Respironics' sleep mask products infringe patents held by ResMed. Further, the company alleges Respironics has copied its proprietary mask technology. Violations of the Lanham Act, trademark and trade dress infringement are also alleged, in addition to common law violations. Damages and an injunction are being sought to remedy the alleged infringement.
[Source: Company Announcements]
Sirtex receives humanitarian device award
9 October - Sirtex Medical Ltd has received an award for the Humanitarian Benefit Device of the Year, in recognition of its SIR-Spheres® technology. The award, made by Frost and Sullivan in the US, will be presented on 6 November. It has been given to Sirtex in recognition of its contributions to the treatment of liver cancer, in addition to the company's success in taking the technology to market. The award is made annually to a medical device manufacturer which has developed a technology with the potential to significantly decrease the morbidity and mortality associated with a disease or condition.
[Source: Company Announcement]
VRI Biomedical targets global allergenics market and appoints new COO
17 October - VRI Biomedical Ltd announces it is to target the US$5.5bn global
allergy market, with its proprietary probiotic advancing to Phase II studies in
Australia and the United Kingdom. The studies, involving infants and adults,
will investigate whether the company's probiotic product can treat or prevent
allergic disorders. Probiotics are a natural bacteria capable of generating
positive health outcomes. Allergy is one of the most common disorders in Western
countries, costing billions of dollars to treat each year.
The company has
also appointed Dr Peter French, until recently the Principal Scientific Officer
at the Centre for Immunology at St Vincent's Hospital in Sydney, to the position
of Chief Operating Officer. He is also an honorary Senior Lecturer in the
Faculty of Medicine at The University of New South Wales and an honorary
Research Associate at the School of Physics, University of Sydney. In his new
role, Dr French is to coordinate the scientific operations of VRI Biomedical,
including all clinical trials.
[Source: Company Announcement]
Xcell withdraws funding from skin cancer project
11 October - Xcell Diagnostics Ltd has withdrawn its financial support from a University of Western Australia skin cancer project. The decision comes as the company is progressing in its acquisition of German biophotonics company Visiomed AG, which has skin cancer diagnostic technology and exclusive worldwide rights for all medical applications. Whilst Xcell notes that the project was advancing in accordance with the agreed budget and timetable, a commercial product was still some time away and would have required a significant R&D commitment, in addition to costs for clinical trials and regulatory approvals.
[Source: Company Announcement]
