Company news
- Agenix posts profit rise
- Analytica obtains funds for development program
- AustCancer progresses cancer vaccine trial
- Benitec to expand commercial activities; demonstrates stable gene silencing in animals
- Biota appoints new CFO
- Biotron further confirms HIV treatment platform technology
- Cardia announces breakthrough with diabetes drug
- Chemeq confirms its drug works better than antibiotics
- EpiTan appoints ex-CSL GM to board; announces intention to expand product range
- Gradipore signs exclusive international licensing agreement; appoints new chair
- Medica subsidiary moves to Baker Institute
- Norwood Abbey receives additional US patent
- Novogen identifies new cancer-protecting role for compound; progresses leukemia treatment to Phase II trials
- Progen reports stronger revenues, adds new drug to development portfolio
- pSivida receives $7.5m private equity funds to develop BioSilicon; subsidiary obtains new patent
Agenix posts profit rise
12 September - Agenix Ltd has announced a 11% increase in pre-tax profit, to $4.2m, for the year ending June 2002. The company's revenue also rose by 39% to $40.8m. Both subsidiary companies posted strong increases in revenue. Agenix indicates that these represent record sales figures for the company, which substantially exceed the indications communicated to the market earlier this year. Agenix CEO Don Home attributes the successful results to the changes the company has made to its structure and strategic investments. Included in the results was a $3m write-down in future income tax benefits, which was done to anticipate the increased expenditure on its platform product, ThromboViewTM, in future years.
[Source: Company Announcement]
Analytica obtains funds for development program
17 September - Analytica Ltd has obtained funding to develop two new products. The funding, provided under the NSW Government's BioFirst scheme, involves dollar-for-dollar matching for all external project expenditure. Analytica's Chief Executive, Ron van der Plujim, reports development of the two products is progressing as expected, with the products soon to enter clinical testing. The products are expected to reach market before the end of 2003.
[Source: Company Announcement]
AustCancer progresses cancer vaccine trial
18 September - Australian Cancer Technology has announced that the Phase Ib/2a clinical trial of its PentrixTM anti-cancer vaccine has advanced to the evaluation and interpretation of results stage. Interim results of the trial, being undertaken in Sydney, are expected to be announced by early November. To date, the trial has confirmed promising earlier results, demonstrating good patient tolerance of the vaccine. Patients with a range of cancers, including colorectal, prostate, renal and lung cancers, are participating. PentrixTM vaccine works by attacking only cancerous cells, in contrast to more traditional cancer treatments such as chemotherapy and radiotherapy. The vaccine "tricks" the body's immune system into treating cancer cells as foreign.
[Source: Company Announcement]
Benitec to expand commercial activities; demonstrates stable gene silencing in animals
11 & 16 September - Brisbane-based gene silencing company Benitec has made two new appointments to its management team. Dr James Anderson has been appointed as acting managing director, and Dr Graeme Woodrow has been made Commercial Director. The appointments are both on a full-time consultancy basis. Dr Anderson joins Benitec from BresaGen (where he was Vice-President: Business Development). Dr Woodrow, who has over 25 years' experience in commercialising biotechnology, joins Benitec from Inhalix Pty Ltd, where he was director and foundation CEO. Dr Anderson holds qualifications in Veterinary Science and Business Management, whilst Dr Woodrow originally trained as a molecular biologist at ANU.
In a separate announcement, Benitec reveals that it has demonstrated the world's first case of stable gene silencing in animals. The company has successfully generated the first transgenic animals in which targeted genes were shut down, via the use of gene elements that induce RNA interference (RNAi). This is the first time that normal genes have been silenced in live animals using a mechanism internal to the animal. Previously, RNAi has only been able to silence genes of interest temporarily. The technology is expected to provide researchers worldwide with a means to more simply and efficiently conduct investigations in functional genomics - determining gene function. In the future, this technology may assist in producing new therapeutic approaches for the treatment of diseases including cancer, autoimmune diseases and major viral diseases such as HIV. Silencing key genes in all of these areas will cause an arrest or reversal of the disease process. Significant potential in animal agriculture is also anticipated.
[Source: Company Announcements]
Biota appoints new CFO
24 September - Biota Holdings Ltd has appointed Andrew Macdonald as its Chief Financial Officer and Company Secretary, effective 1 October. Mr Macdonald is the former CFO of Sharinga Networks Inc and Freeonline Holdings Ltd, and brings 13 years of senior finance experience to Biota. He has also worked as Finance Director with Willis Ltd, a global insurance broker and risk management adviser. Biota CEO Peter Molloy said Mr Macdonald's experience in the global financial sector will suit Biota's plans for growth in both Australian and US markets. Prior to entering the finance sector, Mr Macdonald gained a Bachelor of Science from Monash University and a Bachelor of Business in Accounting from RMIT University in Melbourne.
[Source: Company Announcement]
Biotron further confirms HIV treatment platform technology
19 September - Researchers from Biotron Ltd, in conjunction with the John Curtin School of Medical Research, have demonstrated that proteins derived from the Ross River and Barmah Forest viruses are able to form ion channels - thus supporting the company's ion channel platform technology. This technology is based upon the position that proteins from viruses, such as the HIV virus, can form ion channels. The company asserts that such channels can be targeted to inhibit viral replication. With regards to the Ross River and Barmah Forest ion channels, activity was shown to be suppressed using specific antibodies, thus opening up new treatment options for these diseases. In its Virion project, Biotron is developing anti-HIV therapeutic drugs to target a specific protein of HIV-1, in the hope of disabling the "budding" process in the development of HIV to AIDS.
[Source: Company Announcement]
Cardia announces breakthrough with diabetes drug
23 September - Cardia announces that testing by the International Diabetes Institute of its new diabetes drug compound, ISF402, can reduce blood glucose by 35% in mice within 90 minutes. The compound, a naturally-occurring hormone, may provide a vital key to normalising glucose levels in diabetics. Cardia considers that the drug works by enhancing the body's own insulin production, effectively negating the "insulin resistance" that is typical of Type II Diabetes. The disease currently affects more than 150m people worldwide, and the figure continues to escalate. Glucose tolerance test trials will now be expanded to cover a larger sample, to confirm the compound's level of biological activity.
[Source: Company Announcement]
Chemeq confirms its drug works better than antibiotics
11 September - Pharmaceutical company Chemeq Ltd announces that a new independent trial confirms its veterinary drug, CHEMEQ®TM polymeric antimicrobial (an alternative to the use of human antibiotics in animals), is superior to both market-leading antibiotics. The new trial, in chickens, demonstrated that CHEMEQ®TM led to statistically significant greater weight gain, superior feed conversion ratios when compared with other drugs, and that it caused no deaths in the animals. The company is currently constructing its Australian-based $25m commercial-scale manufacturing facilities for the drug, due for completion next year.
[Source: Company Announcement]
EpiTan appoints ex-CSL GM to board; announces intention to expand product range
12 & 17 September - EpiTan Ltd has appointed ex-CSL General Manager of Pharmaceuticals, Mr Stanley McLiesh, as a non-executive director. Mr McLiesh brings to EpiTan extensive experience in commercialising pharmaceutical products internationally. Whilst at CSL, he was closely involved in the transition of the company to corporatisation and listing. He also handled many in-licensing agreements, mergers and partnerships. Mr McLiesh joins Dr Wayne Millen, Dr Helmer Agersborg and Dr Terry Winters and Clinical Associate Professor Alan Cooper, OAM, on the board of EpiTan. The company now has a broad international experience base in pharmaceuticals, drug development, venture capital and dermatology. The company's drug, Melanotan, is poised to enter Phase II clinical trials soon.
In a separate announcement, the company has indicated its plans to expand the company's operating base to include dermatology products. EpiTan is planning to acquire products to complement its commitment to dermatology and skin care. In what Managing Director Dr Wayne Millen terms a "natural extension," in synergy with its Melanotan project, the company is looking to develop and distribute other products in the Australian region.
[Source: Company Announcements]
Gradipore signs exclusive international licensing agreement; appoints new chair
11 & 23 September - Gradipore Ltd has entered into an exclusive licensing agreement with Canadian company Cangene Corporation. Cangene is a world leader in the development, manufacture and distribution of hyperimmune globulins, products which contain high levels of a specific antibody. These products are obtained from donated human plasma, and as such, there is a strong need to be able to effectively purify the antibody of interest. Under the agreement, Cangene is to evaluate Gradipore's platform separation technology, Gradiflow, as an enhancement to its hyperimmune manufacturing process. The first phase of the agreement will see Gradipore demonstrating the capability of its Gradiflow technology to achieve high levels of both purity and recovery, using one of Cangene's products. Following the successful completion of this first phase (which includes up-front and milestone payments), the companies may enter further agreements to commercialise the product and obtain US FDA. approval. Gradipore hopes it will be able to offer Cangene improved product yield at a reduced cost. The agreement marks the first use of Gradiflow with blood products.
In a separate announcement, the company indicates it has appointed Jeremy Davis as Chairman of its board. Mr Davis, who holds an MBA from Stanford University, brings to Gradipore over 30 years of management experience. He is currently the AMP Society Professor of Management at the Australian Graduate School of Management. He has previously been a director of the ASX and AIDC Ltd, the government-controlled development bank. Earlier in his career, Mr Davis worked with the Boston Consulting Group, becoming Managing Partner.
[Source: Company Announcements]
Medica subsidiary moves to Baker Institute
12 September - Cytopia, a leading drug discovery company and a subsidiary of Medica Holdings Ltd, has moved to the Baker Heart Research Institute in Melbourne. The new $5.5m laboratory, opened by Federal Science Minister Peter McGauran, will be dedicated to research upon prostate cancer. The company, which originally discovered a molecule which kills virulent (untreatable) prostate cancer cells in vitro , is now undertaking advanced animal studies. Cytopia also has a number of worldwide exclusive licences to proteins involved in triggering immune diseases and cancer. The company is focussing upon developing drug candidates to block the action of these proteins.
[Source: Company Announcement]
Norwood Abbey receives additional US patent
13 September - Norwood Abbey Ltd has received another US patent, this time for its technology in laser-assisted pharmaceutical delivery and fluid retrieval. This patent provides an improved method of removing fluids, gases or other biomolecules, or delivering a pharmaceutical composition, though the skin of a patient. The technology does not require needles. The technology works by irradiating the skin using a laser, and applying a pharmaceutical or other absorbing material. The laser works to create a form of tissue alteration, such as a pressure gradient or cavitation bubbles. Such tissue changes increase the diffusion of pharmaceuticals into, or fluids out of, the body.
[Source: Company Announcement]
Novogen identifies new cancer-protecting role for compound; progresses leukemia treatment to Phase II trials
17 & 24 September - Novogen Ltd's novel skin repair compound, NV-07, has revealed a previously unrecognised benefit, expected to have significant implications for protection of human skin from sunlight-induced damage. The company has discovered a new mode of action for the compound, which protects skin cells from DNA damage. Normally, DNA damage would continue over several days after sun exposure. However, chemicals known to protect skin from this kind of damage were present in much higher levels after sun exposure in people treated with NV-07. This ongoing action of NV-07 is thought to protect DNA from damage, which in its most severe form can lead to skin cancer. The compound is therefore now known to have two benefits: preventing immune suppression in the skin (which normally occurs with sun exposure) and inhibiting changes to DNA. The fact that the compound appears to prevent both phases of skin damage should expand its potential beyond the rationale of post-sun application. Clinical trials of the compound are underway.
In a separate announcement, Novogen announces its subsidiary, Marshall Edwards Inc, has progressed with the development of its lead anti-cancer compound, phenoxodiol. The compound, which selectively targets defects in cell death receptor mechanisms, is being further investigated in a Phase II trial with leukaemia patients. In the trial, phenoxodiol is to be administered intravenously, thus supplementing the Phase I trial of an oral dosage form. To date, the compound has been well tolerated and can provide an anti-tumour effect.
[Source: Company Announcements]
Progen reports stronger revenues, adds new drug to development portfolio
10 & 18 September - Progen Industries Ltd announces it has increased its revenues from biotech and R&D services by 58% over the corresponding period last year, to $3.85m. The company spent $4.153m on R&D, largely attributable to the commencement of Phase II human trials and increased expenditure incurred in progressing the company's technology platform for drug development.
In a separate announcement, Progen announces it has signed an exclusive agreement with UniSearch, the commercialisation company of The University of New South Wales. The exclusive worldwide agreement enables Progen to license and develop a cancer therapy, PI-166, which comprises a novel formulation and delivery mechanism. The therapy has the potential to treat multiple cancers and is currently in late-stage preclinical development. Progen plans to build upon these early studies by undertaking additional R&D, including early human trials.
[Source: Company Announcements]
pSivida receives $7.5m private equity funds to develop BioSilicon; subsidiary obtains new patent
11 & 24 September - Nanotechnology company pSivida Ltd has signed a $7.5m equity line of credit facility. The agreement, signed with New York-based private equity group global Emerging Markets, secures three years' funds for the company. The facility, which will enable the company to access capital over multiple drawdowns, gives pSivida capacity to develop its BioSiliconTM products further whilst minimising dilution to shareholders. Under the agreement, pSivida is not precluded from raising funds elsewhere.
In a separate announcement the company indicates its subsidiary, psiMedica Ltd, has obtained a new European patent for the use of BiosiliconTM, a nano-structured porous silicon, in a broad range of therapeutic applications. A major application granted protection is the transfer of materials into cells using BiosiliconTM as a "cell entering vehicle". The patent is important for psiMedica, as it will enable the company to underpin collaborations relating to drug and vaccine delivery using BiosiliconTM. The European patent follows earlier allowances in the US and United Kindgdom.
[Source: Company Announcements]
