Company news
- Acrux licences veterinary technology to Eli Lilly
- AGT Biosciences expands its patent protection over SeIS gene
- Benitec appoints head of scientific advisory board
- Bioglobal signs Cooperative R&D Agreement with US Department of Agriculture
- Biota enters SARS testing agreement with US government agencies
- Eastland seeks funds to buy distribution company
- Eiffel receives A$2.2m Start grant
- Eiffel signs drug delivery company for transdermal insulin
- EpiTan and pSivida combine to develop slow-release formulation of Melanotan
- Gradipore names new CEO
- Gribbles announces new biotechnology subsidiary
- Novogen appoints TGR CEO as new director
- Novogen subsidiary, MEI, to list on the Nasdaq SmallCap market
- Peplin appoints new CEO
- Peplin reports promising new compound
- Peptech and J&J begin arbitration
- Progen's share placement raises A$9.6m
- Select Vaccines signs first international deal
- Solagran announces success in preliminary liver disease drug trials
- Starpharma announces collaborations with both IDT and AGT
- Virax raises A$3.4m
Acrux licences veterinary technology to Eli Lilly
September 23 – Acrux and Eli Lilly have signed a global licence, development and commercialisation deal for animal health indications using Acurx's transdermal drug delivery technology. Under the agreement Lilly's division Elanco Animal Health will conduct and/or fund related product development activities. Acrux will receive up-front fees, milestone fees, and royalties from future sales of any products developed out of the collaboration. The companies aim to offer alternatives to oral delivery and injections for animals.
[Source: Company Announcement]
AGT Biosciences expands its patent protection over SeIS gene
September 29 - AGT Biosciences has announced the expansion of its patent protection over the SeIS gene to include cancer, heart disease, infertility and other diseases. The company first filed for a patent relating to the SeIS gene and its product Selenoprotein S in 2000. Since then, the gene and protein have been further protected by various other patent applications. AGT Biosciences' Professor Collier says 'the possible application of SeIS to diseases including cancer and inflammation opens new revenue possibilities for the company in markets worth billions of US dollars per annum'.
[Source: Company Announcement]
Benitec appoints head of scientific advisory board
September 18 – Dr John Rossi, a specialist in DNA-directed RNA interference, has been appointed by Benitec to chair its scientific advisory board in the US. Dr Rossi is currently the professor and chair of the Beckman Research Institute of the City of Hope's Division of Molecular Biology, and Dean of the Institution's Graduate School of Biological Sciences. The City of Hope is a cancer centre dedicated to the prevention and cure of life threatening diseases such as cancer, HIV/AIDS, and diabetes. Dr Rossi's appointment is expected to accelerate the company's development programs for applying its technology to the treatment of diseases.
[Source: Company Announcement]
Bioglobal signs Cooperative R&D Agreement with US Department of Agriculture
September 25 – Brisbane-based Bioglobal Pty Ltd has signed a Cooperative Research and Development Agreement (CRADA) with the US Department of Agriculture for the development of its 'attract and kill' technology for the major moth pests in cotton and grain legumes. Earlier this year, Bioglobal entered into a marketing and distribution agreement with Cotton Growers Services for its technology for the major moth pest (heliothis) in cotton in Australia. Bioglobal has lodged a PCT international patent application and a separate provisional patent covering the product which is branded BioATTRACT Heli. The company says a successful outcome from the CRADA will strengthen Bioglobal's intellectual property position with regard to the technology for major cotton, grain legume and horticultural crops in the US. Bioglobal estimates the size of cotton and grain legumes markets for this product in the US as being $435m, and $240m for horticultural crops.
[Source: Company Announcement]
Biota enters SARS testing agreement with US government agencies
September 24 – Biota Holdings has announced the execution of an agreement with two US government agencies, the National Institute of Allergy and Infectious Diseases and the US Army Medical Research Institute of Infectious Diseases. Under the agreement, which runs for three years, Biota's antiviral compounds will be tested for activity against SARS. The company's compounds will also be tested as potential treatments for other serious viral infections such as smallpox. Dr Simon Tucker, head of Biota's Australian research group, said any active compounds would be structurally modified to enhance their activity. He added that the company is aiming to design potential drugs by targeting key proteins of the SARS virus.
[Source: Company Announcement]
Eastland seeks funds to buy distribution company
September 18 – Eastland Medical Systems is aiming to raise A$5m to help buy distribution company Medical Industries Australia. Eastland, which makes safe injectable devices, will buy the distributor for a combination of cash and shares. Broker Intersuisse is leading a placement of 10 million shares priced at 50c each to institutions and big investors to raise the capital required. Eastland Managing Director Don O'Sullivan said the acquisition gives the company an experienced marketing team and an established distribution network to its target customers.
[Source: Reuters]
Eiffel receives A$2.2m Start grant
September 12 – Eiffel Technologies has announced that the Federal Government has awarded the Company R&D START Grant funding of $A2.2 million over three years to investigate the reengineering of pharmaceuticals using Eiffel's Supercritical Fluid technology. Supercritical Fluid technologies can be used to produce nanosized particles which can improve the performance of pharmaceuticals, delivering drugs in a more convenient way and effectively extending their patent life. Eiffel is one of the few entities which has research capability to apply all four Supercritical Fluid processes to the reengineering of a wide range of pharmaceutical compounds. 'This grant allows us to continue to significantly expand our research and development base,' said Christine Cussen, Eiffel Technologies' Managing Director and Chief Executive Officer, 'which will greatly accelerate the commercialisation of our technology'.
[Source: Company Announcement]
Eiffel signs drug delivery company for transdermal insulin
September 17 – Eiffel has signed an agreement with a US-based transdermal delivery company to supply reengineered insulin using Eiffel's proprietary Supercritical Fluid technology for testing in the company's transdermal delivery system. Eiffel expects the research to be completed by late 2003. 'This agreement forms part of our strategy to jointly develop non-injectable forms of insulin with external parties', said Eiffel's managing director and CEO, Ms Christine Cussen. 'This collaboration also highlights the versatility of our technology for use of transdermal as well as inhalable and oral drugs. This partnership is an ideal marriage between Eiffel's Supercritical Fluid capability and our partner's expertise in transdermal delivery.'
[Source: Company Announcement]
EpiTan and pSivida combine to develop slow-release formulation of Melanotan
September 24 – EpiTan and pSiMedica, a subsidiary of pSivida, have signed a collaborative agreement which aims to develop a new liquid-based sustained-release formulation of Melanotan. EpiTan will use pSivida's BioSilicon nanotechnology to load up microscopic porous particles with Melanotan. The solution would then be injected into the body and the drug would be released over 20-30 days. The result is that consumers could have the choice of an implant, a liquid injection or a topical application of Melanotan. Under the agreement pSivida will receive payments through the supply of their materials as well as royalties.
[Source: Company Announcements]
Gradipore names new CEO
September 25 – Gradipore has announced that Greg Pynt will take over from Bob Lieb as the company's CEO. Pynt's background includes 20 years in investment banking prior to which he occupied divisional management positions in public companies. The new CEO plans to focus on improving Gradipore's commercial side, bringing more attention to increasing revenues and reducing costs. Professor Jeremy Davis, Gradipore's board chairman, said the appointment would allow the company to develop the company's core Gradiflow technology and rebuild shareholder value.
[Source: Company Announcement]
Gribbles announces new biotechnology subsidiary
September 15 – Gribbles has announced the development of a new subsidiary company, Gribble Molecular Science, dedicated to biotechnology. The subsidiary's first project will be the development of a pre-natal screening test for the detection of genetic and chromosomal abnormalities. Gribble Molecular Science plans to develop technologies for medical, veterinary and agricultural applications. Dr Ian Findlay, senior research fellow at the University of Queensland's Institute of Molecular Biosciences, has joined the company's new subsidiary as chief scientific officer. Dr Findlay, who was the first in the world to perform DNA fingerprinting on a single cell, will lead the pre-natal screening work. Gribbles Molecular Science will comprise two divisions: research and development in Brisbane; and service in Melbourne.
[Source: Company Announcement]
Novogen appoints TGR CEO as new director
September 15 – The chief of biotech TGR BioSciences has been appointed to the board of bioactive compound development company Novogen. Professor Leanna Read has 15 years experience in leading and managing commercially related research organisations, and has been appointed as a non-executive director. Read is currently on the board of the CRC for Diagnostics and the Australian Proteome Analysis Facility, is a member of both the South Australian Premier's Science and Research Council and the Prime Minister's Science, Engineering and Innovation Council, and has a professorial chair at Flinders University. Novogen said its assets and cash reserves, worth a combined A$73.4m, placed the company in a good position to make the most of commercialisation opportunities.
[Source: Company Announcement]
Novogen subsidiary, MEI, to list on the Nasdaq SmallCap market
September 26 – Novogen Limited's subsidiary, Marshall Edwards Inc, has filed a registration statement with the Securities Exchange Commission for the initial public offering of 2,000,000 common stock units, each unit consisting of one share of its common stock and a warrant to purchase one share of its common stock. It is anticipated that each common stock unit will be offered in the price range of US$4.50 to US$6.50. The Company said it has also applied for a Nasdaq SmallCap listing under the symbol MSHL.
[Source: Company Announcement]
Peplin appoints new CEO
September 22 – Small molecule drug development company Peplin Biotech has announced the appointment of Michael Aldridge as its new CEO and managing director. Mr Aldridge replaces Garry Redlich, who plans to stay on with Peplin in a business development role. The new CEO has spent several years working in the US in roles including associate director of Bears, Stearns and Co Healthcare Investment Banking Group in New York, and similar positions with Volpe Brown Whelan & Company in San Francisco, and SG Warburg Group in London and Sydney. He has also developed a biotechnology investment banking business with Wilson HTM since his return to Australia in 2002.
[Source: Company Announcement]
Peplin reports promising new compound
September 16 – Peplin Biotech has reported both a promising new indication for its lead anti-cancer compound PEP005, and a promising new compound of undisclosed provenance. PEP005 is being developed as a treatment for non-melanoma skin cancers and is showing potent activity against several leukaemic cell lines, and against cells from patients with relapsed acute myelogenous leukaemia. The company has also announced that a compound produced by tissue-cultured cells from a plant not previously grown in tissue-culture has demonstrated anti-cancer activity. The new compound is chemically related to PEP005, but the company did not reveal whether its source is the same plant as that which PEP005 is derived from. Peplin plans to explore the full range of synthetic possibilities for compounds related to PEP005 in order to reduce the risk that others will find a rival compound it may have overlooked.
[Source: Company Announcements]
Peptech and J&J begin arbitration
September 25 – Peptech has announced the initiation of formal arbitration proceedings against Centocor and its parent company Johnson & Johnson. The manufacture, use and sale of Peptech's anti-TNF antibodies have been licensed to Centocor, and the dispute relates to whether Centocor's REMICADE falls within the scope of the licensed patents. The outcome of the arbitration will decide whether or not royalties are payable to Peptech from sales of REMICADE in the US and Europe. Peptech is confident of a positive outcome after tightening their case both scientifically and legally. Anti-TNF antibodies are used therapeutically to treat conditions such as rheumatoid arthritis and Crohn's disease.
[Source: Company Announcement]
Progen's share placement raises A$9.6m
September 19 – Progen has raised A$9.6m through the institutional placement of six million new, fully paid shares at A$1.60 each (representing a 15% discount on market value). The placement has doubled Progen's cash reserves, which will be used to expand the company's pipeline of drug candidates. Progen's lead compound, anti-cancer drug PI-88, has recently completed phase 2 clinical trials and will progress to later stage trials once the company secures an out-licensing arrangement. The small molecule drug company is currently concentrating on strategic growth initiatives in order to secure long-term viability. Progen's drug pipeline will continue to focus on anti-cancer compounds.
[Source: Company Announcement]
Select Vaccines signs first international deal
September 24 – Select Vaccines and Singapore company Genelabs Diagnostics have signed an agreement for the commercialisation of Select Vaccines' hepatitis E diagnostic kits. Contract finalisation is still subject to Genelabs completing a detailed technology evaluation of the diagnostic kit. Under the agreement Genelabs is granted an exclusive, worldwide (excluding the US) 12 year licence to manufacture and distribute the kit. Select Vaccines will receive up-front payments and on-going royalties over the 12 year period. Currently available hepatitis E tests require a blood sample to be taken from a vein and take between 24 and 48 hours to yield results. Select Vaccines' test only uses a finger-prick blood sample and yields results within minutes.
[Source: Company Announcement]
Solagran announces success in preliminary liver disease drug trials
September 24 – Solagran has announced promising results in preliminary trials of a bioeffective compound for the treatment of liver diseases such as hepatitis and cirrhosis. The trials were undertaken at the Institute of Experimental Medicine in St Petersburg, and involved removing part of the liver of white male rats then administering a toxin and monitoring the rate of elimination of the toxin from the rat's body. The rats receiving the trial drug not only regenerated the removed liver tissue but also regained anti-toxic liver function levels comparable to those of animals left intact. A detailed morphological study is currently being conducted, with results expected within a few weeks.
[Source: Company Announcement]
Starpharma announces collaborations with both IDT and AGT
September 18 – Melbourne polyvalent nanotechnology development company Starpharma first announced a collaboration with the Institute of Drug Technology to conduct safety tests of Starpharma's vaginal microbicide gel. The company later announced a joint venture with AGT Biosciences to develop novel therapies for type 2 diabetes using dendrimer technology. Under this alliance, Starpharma will combine its nanostructures approach with AGT's biological knowledge of diabetes and strength in validation of potential drugs to develop the new treatments. Dendrimer technology offers a novel drug delivery system with the potential to produce therapies with higher concentrations of the active compound, and reduced side-effects. Most of the work will be conducted in Australia.
[Source: Company Announcements]
Virax raises A$3.4 million
September 22 – In a capital raising aimed to progress Virax Holdings' prostate cancer and HIV drug development programs the company has raised A$3.4 million. Virax chairman Dr Tom Quirk said he was particularly pleased with the number of new shareholders. The specific use of the funds is to be determined by the outcome of the company's US search to secure licensing or partnership deals. Results of the search are expected to be known by early next year.
[Source: Company Announcement]
