Melbourne, Australia; Starpharma Holdings Limited (ASX:SPL, OTCQX:SPHRY) released  today the Quarterly Cash Flow Report (Appendix 4C) for the quarter ended 30 September 2010.

The cash balance at 30 September 2010 was $20.2m.  The Operating & Investing cash outflow of $2.4m for the quarter includes the set-up and upfront costs of the phase 2 bacterial vaginosis study for VivaGel^® commenced in July.  The result also reflects variations in timing between receipts and expenditure for VivaGel^® development costs funded by the U.S. National Institutes of Health (NIH), and costs associated with advancement of the VivaGel^®-coated condom.

Receipts from customers included royalty and research income from partners during the quarter, and payments from the U.S. National Institutes of Health (NIH) for VivaGel^® development costs.

CEO Dr Jackie Fairley said:  “The cash burn for the quarter reflects the commencement of our trials for bacterial vaginosis, a new and exciting indication for VivaGel^® and the driver of our capital raising last November.”

Download ASX announcement: Appendix 4C - September 2010 ( pdf file, 60kb)