Melbourne, Australia; Starpharma Holdings Ltd (ASX: SPL, OTCQX: SPHRY) today released its Appendix 4C – Quarterly Cashflow report for the period ended 31 December 2014.

The cash balance at 31 December 2014 was $39.3 million, with the operating and investing cash outflows being $1.4 million for the quarter.

The cash balance includes the Company’s R&D tax incentive refund of $4.2 million received relating to FY14 expenditures and net proceeds from the Share Purchase Plan (SPP) from October of last year. The SPP proceeds were in addition to the proceeds of the equity placement included in the previous quarterly cashflow report.

The operating and investing cash flows for the quarter include expenditure relating to activities including the ongoing phase 3 clinical trials for VivaGel^® to prevent recurrent bacterial vaginosis (R-BV) and the phase I clinical trial of DEP™ docetaxel.

Both clinical programs are progressing well. Preliminary findings from the phase I trial comparing DEP™ docetaxel to the commercial version of docetaxel, Taxotere^®, have shown the drug is well tolerated with no neutropenia nor hair loss observed, and improved pharmacokinetics.

In the phase 3 trials for R-BV, around 600 women are being recruited into each of the two studies across multiple sites in the US, EU, Asia and Mexico.

During the quarter, the VivaGel^® condom was officially launched in Australia by Starpharma’s marketing partner, Ansell, under its LifeStyles^® Dual Protect™ brand. Marketing clearance for the condom under the LifeStyles^® Dual Protect™ brand was also achieved in New Zealand.

The availability of the VivaGel^® condom in Australia represents the first major marketed product for Starpharma’s VivaGel^® portfolio, and the first of three women’s health and sexual wellness VivaGel^® products that are in various advanced stages of development and commercialisation. Starpharma will receive royalties based on sales.

Also during the quarter, Starpharma’s Priostar^® glyphosate patent was allowed in China, further strengthening and expanding the Company’s patent portfolio for the use of its proprietary dendrimers in agrochemical products.

“This quarter has been characterised by substantial progress for Starpharma and positions us positively into this New Year with two clinical programs progressing well, our VivaGel^® condom now available in Australian retail outlets and exciting developments across our drug delivery programs,” said Starpharma Chief Executive Officer, Dr Jackie Fairley.

“We have a strong cash balance which allows us to confidently and intently advance our entire portfolio. Starpharma already has one of the most robust and advanced portfolio of products at various stages of mid to late stage commercialisation.”

Download ASX Announcement: Appendix 4C - Quarterly Cashflow Report (pdf file, 322kb)