Melbourne, Australia; Starpharma (ASX: SPL, OTCQX: SPHRY) today announced that regulatory certification has been granted for marketing Starpharma’s VivaGel^®-coated condom in Japan, the world’s second largest condom market.

VivaGel^® is licensed to Okamoto Industries (TSE: JP3192800005) as a condom coating for the Japanese market. Okamoto is the market leader for condoms sold in Japan and has held this position for many years. Under Starpharma’s commercial licence agreement with Okamoto, Okamoto has exclusive Japanese marketing rights for the VivaGel^®-coated condom. VivaGel^®-coated condoms sold by Okamoto will carry the VivaGel^® brand and Starpharma will receive royalties based on sales of these condoms.

“This receipt of the world’s first marketing approval for a VivaGel^®-coated condom in Japan marks a major milestone for this product and for our strategically important partnership with Okamoto. We greatly appreciate Okamoto’s support and assistance in achieving this certification and we look forward to a long and mutually profitable commercial relationship” said Starpharma CEO, Dr Jackie Fairley.

“Following this certification Starpharma looks forward to the introduction of its innovative, patented VivaGel^®-coated condom to this key market in partnership with Okamoto, one of the world’s leading condom companies,” she added.

Okamoto is Japan’s leading marketer of condoms with approximately 60% share of the Japanese condom market. The value of the Japanese condom market has been estimated to be in the order of US$500 million.  Okamoto, based in Tokyo, has total revenues of more than US$740 million and over 1,500 employees.  In addition to its dominant position in the Japanese condom market, Okamoto also holds strong market positions in several other Asian markets, including Korea, Taiwan, Malaysia, Singapore and China.

Okamoto’s senior managing director Mr. Seiji Takeuchi said in January this year that condoms with functional coatings and gels represent the next wave of innovation in the Japanese condom market following on from a decades-long focus on condom thinness.

Following this initial VivaGel^®-coated condom certification, Mr Takeuchi said, “We are very pleased to be in a partnership with Starpharma for this product.”

Starpharma has a separate licensing agreement with Ansell Limited (ASX: ANN) which provides marketing rights to a VivaGel^®-coated condom in countries outside Japan and the company looks forward to further regulatory approvals under that partnership.

 VivaGel^®

Starpharma’s VivaGel^® active (SPL7013) has both antibacterial and antiviral properties and in laboratory studies has been shown to kill 99.9% of HIV, HPV (human papillomavirus) and HSV-2 (genital herpes virus). VivaGel^® is also being separately developed as an applicator-delivered vaginal product for the management of bacterial vaginosis.

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