Melbourne Australia: Starpharma Holdings Ltd (ASX: SPL; OTCQX: SPHRY) today released its Appendix 4C – Quarterly Cashflow report for the period ended 30 September 2013.

The cash balance at 30 September 2013 was $31.5 million, a net cash burn of $2.3 million for the quarter.

During the quarter Starpharma reported positive results of pre-clinical studies which examined the Company’s dendrimer-enhanced version of the blockbuster cancer drug, oxaliplatin (ELOXATIN^®) in a colon cancer model (xenograft).  The results demonstrated that compared with the original version, ELOXATIN^®, Starpharma’s Dendrimer-Enhanced Oxaliplatin was more effective in inhibiting tumour growth, and substantially reduced the serious bone marrow toxicities that are reported in a high proportion of patients receiving oxaliplatin.

Further positive results for Starpharma’s Dendrimer-Enhanced Oxaliplatin nanoparticles were announced on 14 October, when Starpharma reported the results of a trial that showed the dendrimer formulation resulted in a significant reduction in neurotoxicity, the major (and dose-limiting) toxicity of oxaliplatin.

More recently Starpharma also reported that its lead oncology candidate, dendrimer docetaxel which will enter the clinic shortly, did not cause bone marrow toxicity or neutropenia, the dose limiting side effect commonly seen with the original formulation of docetaxel. This formulation has already been shown in preclinical studies to have several other advantages compared to Taxotere^® including improved efficacy.

Planning is also well advanced for the Phase 3 trials of VivaGel^® for the prevention of recurrence of bacterial vaginosis, while the VivaGel^®-coated condom – licensed to Ansell and Okamoto – is currently under regulatory review ahead of market launch.

Download ASX Announcement: Appendix 4C - Quarterly Cashflow Report ( pdf file, 142kb)