Just wondering if anyone had any information about Starpharma (SPL) a Biotech company. Caught my eye because of it's recent success (Phase I) in a trial of it's AIDs prevention gel. I imagine any company that brings out a successful product in preventing AIDs has got to do well in the future. They state that a commercial product is still a few years away. I have added a profile of the company below for those that are interested.
SPL's strategy is to commercialise pharmaceutical applications for dendrimers. Part of this strategy involves a number of alliances with other biotech groups including AGT Biosciences (Type II diabetes) and New Zealand's Industrial Research Limited (IRL).
The collaborative agreement with IRL is for the development of particles and elements that can be used to target drugs to specific sites. As a result of this initiative, the company aims to achieve better performance and fewer side effects in the compounds used in the development. The establishment of this alliance has been supported by the New Zealand Government through its establishment of the Foundation for Research, Science and Technology which has awarded IRL a contract worth NZ$5.9 million over 5 years.
The company's flagship product in clinical development, VivaGel, is a vaginal microbicide product for the prevention of the transmission of major STD's. Phase I human safety trials are underway at Royal Adelaide Hospital which are expected to be completed by the second quarter of 2004.
In September SPL raised $6.9m through a share placement. The funds will be used to accelerate the company's development of its VivaGel product and other existing pipeline products in the respiratory, oncology and exotic disease areas.
In March 2004 SPL elected to relinquish PDF status to increase its investment options. At the same time $7.5m was raised via a placement of shares to Australian and offshore institutions. The funds are earmarked for investment in corporate opportunities arising out of DNT and related entities.