Melbourne, Australia; 28 April 2016: Starpharma Holdings Ltd (ASX: SPL, OTCQX: SPHRY) today released its Appendix 4C – Quarterly Cashflow Report for the period ended 31 March 2016.

The cash balance as at 31 March 2016 was $51.1 million, compared with a cash balance of $54.7 million at 31 December 2015. Starpharma’s strong cash position supports the continued development and commercialisation of the VivaGel^® portfolio, and DEP™ drug delivery and agrochemical programs.

Highlights for the quarter include:

• New licensing deal with Aspen Pharmacare Australia for the sales and marketing of VivaGel^® BV in Australia and New Zealand;
• New licensing deal with Adama for the development and commercialisation of a Priostar^® enhanced, proprietary 2,4-D herbicide;
• More than 75% of patients now recruited in both the Phase 3 VivaGel^® prevention of recurrent BV and the Phase 1 DEP™ docetaxel clinical trials;
• Further preclinical efficacy results for DEP™ cabazitaxel show complete and sustained tumour regression in a human breast cancer model; and
• Final study results of Starpharma’s HER2-targeted DEP™ conjugate achieving complete tumour regression to 120 days in a preclinical ovarian cancer model.

The 31 March 2016 cash balance of $51.1 million includes $1.9 million of proceeds from the January share purchase plan, with the net operating cash outflows of $4.5 million relating to all of Starpharma’s clinical and preclinical programs, including both the Phase 3 clinical trials of VivaGel^® for the prevention of recurrent BV and DEP™ docetaxel Phase 1 clinical trials.

Commercial milestones during the quarter include two substantial new licensing deals for Starpharma. The first with Aspen Pharmacare Australia is for the Australia and New Zealand sales, marketing and supply of VivaGel^® BV for the management of the prevalent vaginal infection, bacterial vaginosis (BV). Under the license, Aspen is responsible for all marketing, promotion and distribution of the product and Starpharma will receive royalties on net sales.

In addition, commercial negotiations are advancing well for broader territory rights, including Europe. With the EU approval in hand and other regulatory reviews in progress under mutual recognition programs, preparations for VivaGel^® BV product launch are also being actively progressed.

A second new licensing agreement was signed with Adama, one of the world's leading crop protection companies, for the development and commercialisation of a Priostar^® enhanced, proprietary 2,4-D herbicide initially for the US market. 2,4-D is one of the top three herbicides sold world-wide with global sales in 2014 estimated to be US$680 million. Under the license, Starpharma will receive royalties on sales of proprietary Priostar^® enhanced 2,4-D products. In addition to the US market, the agreement includes a mechanism to expand the license into additional territories.

“The achievements of the most recent quarter highlight the benefit of having strong partnered and internal development programs advancing in parallel with substantial commercial and development progress across all three core areas. As we enter a period where we expect to have our second product VivaGel^® BV in market, our launch preparations and commercial negotiations with multiple parties continue to progress well” said Dr Jackie Fairley, Chief Executive Officer of Starpharma.

Download ASX Announcement: Appendix 4C - Quarterly Cashflow Report (pdf file, 210kb)