Starpharma today released its interim report and financial results for the half-year ended 31 December 2013. 

Financial Summary

• Reported loss of $5.6M (Dec 2012: $1.8M)
• R&D tax incentives of $2.6M reported in the half-year (Dec 2012: $6.8M)
• Cash position at 31 December 2013 of $27.8M
• R&D tax incentive receivables at 31 December 2013 of $7.3M

Starpharma today released its Appendix 4C – Quarterly Cashflow report for the period ended 31 December 2013.

 The cash balance at 31 December 2013 was $27.8 million, a net cash burn of $3.7 million for the quarter. The cash balance excludes the Company’s anticipated R&D tax incentive refund of $4.7 million receivable this financial year.

Starpharma today announced that it has received the necessary approvals to commence a phase 1 human clinical trial for its dendrimer-enhanced docetaxel (Taxotere®) chemotherapeutic product, referred to as DEP™-Docetaxel. 

The trial will be conducted exclusively in Australia, at Nucleus Network's clinical facility at the AMREP/Alfred Hospital initially, with the plan to add 1 to 2 additional sites in the near future. 

Starpharma today announced that following a submission to AusIndustry, it is eligible to receive an additional estimated A$2.3 million cash in R&D tax incentive for overseas R&D activities for its Dendrimer-Docetaxel program. 

Starpharma will also receive the 45% R&D tax incentive for eligible Australian expenditure for the Dendrimer-Docetaxel program, including the clinical trial that will commence shortly.

Starpharma today announced that a program utilising its proprietary dendrimer-based nanoparticles which have already shown impressive activity in lung cancer models, have been awarded Cancer Australia funding through its collaboration with Monash Institute of Pharmaceutical Sciences (MIPS).

The Cancer Australia grant was awarded to Dr Lisa Kaminskas and Prof Chris Porter at MIPS under its Priority-driven Collaborative Cancer Research Scheme to develop dendrimer drug delivery systems for the treatment of lung cancer.

In this issue:

› Dendrimer-Docetaxel to enter human clinical trials

› VivaGel® Phase 3 trial for prevention of recurrent BV

› VivaGel®-coated condom: Consumer feedback

› Impressive results for Dendrimer-Enhanced Oxaliplatin

› Progress continues in agrochemical activities

› Appointment of Rob Thomas

› SPL TV – a new channel

Download: Shareholder Update: December 2013 ( pdf file, 1MB)

Starpharma today announced that Mr Robert Thomas has been appointed to the Board as a non-executive director with effect from 4 December 2013.

Starpharma released its AGM Chairman's address and CEO presentation for the meeting held 22^nd November 2013. Results of voting were released following the meeting. Resolution 5 was withdrawn prior to the meeting.

Australian Financial Review Journalist, Bina Brown reported on an Australian equities market shift away from resources into biotech and included Starpharma as a company to watch. The article noted the recent positive data showing that the Company’s delivery technology can make commonly use cancer drugs work a lot better as well as reduce side effects that can result in patients having to stop treatment.

 “[Starpharma’s] delivery technology can not only make commonly used cancer drugs work a lot better, but can get rid of the main side-effects that can mean cancer patients have to stop using them.. ‘If the human data is anything like what we have seen in preclinical ­studies, this will be a total game changer.’”

Starpharma today announced the selection of Mr Robert Thomas for appointment to the Board as a non-executive director.  He will be appointed in December 2013 and will assume the role of Chairman mid-year when Mr Peter Bartels retires as part of a deliberate succession plan and board renewal.