Melbourne, Australia; Starpharma Holdings Ltd (ASX: SPL, OTCQX: SPHRY) announced today that it has signed a Memorandum of Understanding (MOU) with a Chinese company who is a major provider of condoms to the Chinese government.  The MOU outlines the key commercial and other terms for Starpharma’s partner to manufacture and sell a VivaGel^® coated condom to the Government segment of the Chinese market.

Following the signing of this MOU, Starpharma will work with its partner to proceed with the regulatory process in preparation for market launch and to finalise a complete and binding commercial agreement.

“This MOU is an important step towards expanding the availability for the VivaGel^® condom to a market not captured by our current licensees” said Dr Jackie Fairley, CEO, Starpharma.  “In addition, partnering with a local Chinese company has the potential to facilitate entry into this important market”.

The Government Market in China is open to local Chinese companies and manufacturers, with an annual demand estimated at approximately 3 billion condoms.  The market spans both the Birth Control Department and the Disease Prevention Department of the Chinese Government.

Download ASX Announcement: Starpharma signs MOU for VivaGel condom in China (pdf file, 220kb)