Melbourne Australia:  Starpharma Holdings Ltd (ASX:SPL;OTCQX: SPHRY) today released its Appendix 4C – Quarterly Cashflow report for the period ended 30 September 2012.

The cash balance at 30 September 2012 was $37.6 million.  Total operating and investing cash outflows for the quarter were $5.9 million; with net proceeds from the issue of shares totaling $0.8 million, resulting in a net decrease in cash of $5.1 million.  The cash burn for the quarter is in line with budget, with the majority of expenditure being directed towards the VivaGel^® bacterial vaginosis (BV) clinical program.

This program is nearing completion, and earlier this month the Company announced completion of recruitment in the two Phase 3 studies for VivaGel^® as a treatment for BV. These trials were conducted across more than 30 international sites and recruited 250 patients per trial.  Results are expected to be available by early December 2012, following the completion of patient follow-up, data collection and the necessary statistical analyses.

In addition a Phase 2 clinical trial to investigate the ability of VivaGel^® to prevent the recurrence of BV is now also fully recruited, and completion of this trial is on track for Q4 2012 with results expected early in 2013.

 In addition to the BV product, Starpharma’s portfolio of commercial opportunities includes two licences for a VivaGel^® -coated condom, a drug delivery program developing an improved version of the blockbuster cancer drug docetaxel (Taxotere^®), and a number of agrochemical programs including an enhanced version of the leading herbicide glyphosate (the active ingredient in Roundup^®).  During the quarter significant partnering activities occurred, including the signing of agreements with AstraZeneca and Nufarm, both global leaders in their respective fields.

Download ASX Announcement: Quarterly Cashflow Report ( pdf file, 236kb)