Starpharma today released its annual report and financial results for the year ended 30 June 2011.

Financial Results

• Cash position at end of year $18.9M
• Net cash burn for the year $3.9M
• Cash outflows from operations $6.5M
• Reported loss $8.9M

GlaxoSmithKline (GSK), and Starpharma today announced that GSK was awarded a grant to advance a dermal treatment based on Starpharma’s dendrimer drug delivery technology.

The funds will be used to support Starpharma’s synthesis of dendrimer-based drug candidates which will then be tested by Stiefel, a GSK company with a view to further development towards a dermal product.

Starpharma today announced two important developments in relation to the commercialisation of its VivaGel^®-coated condom.

Key Points:

1. Starpharma terminates condom coating agreement with Reckitt Benckiser
2. Starpharma executes condom coating agreement with Ansell

Starpharma today announced the commencement of its Phase 2 study of VivaGel^® for the prevention of bacterial vaginosis (BV), following receipt of ethics approval.

Starpharma today released its Quarterly Cash Flow Report for the period ended 30 June 2011.

The net cash burn for the year was $3.9m, resulting in a cash balance of $18.9m at 30 June 2011.

In this issue:

› VivaGel® demonstrates efficacy in the treatment of bacterial vaginosis; Independent study finds link between bacterial vaginosis and HIV

› Japanese VivaGel® condom deal secures second largest condom market in the world

› Starpharma’s Priostar dendrimers improve bestselling herbicide

› Drug delivery program delivers early-stage results in improving blockbuster chemo drug.

Download:  Shareholder Update: July 2011 ( pdf file, 1MB)

Starpharma today commented on results of a study which showed that men were three times more likely to contract HIV from their female partners if the women also had bacterial vaginosis (BV) in the three months before the men became infected.

 Starpharma today announced encouraging results from studies applying its Priostar^® dendrimer technology to the improvement of globally significant agrochemicals.

• Starpharma’s Priostar^® dendrimer found to improve the effectiveness of agrochemicals including glyphosate, the most commonly used herbicide globally;
• Starpharma’s internal development program is focused on the improvement of several existing agrochemicals;
• New patent filing to extend coverage to 2029.

The Age Journalist David Potts notes the resilience of biotech companies in volatile market conditions:  ‘They might not make any money but, hey, that has never stopped a boom. Many biotech stocks have been surging in this sluggish sharemarket.’

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Herald Sun Journalist John Beveridge looks at the diverse, long term investment potential within Starpharma’s research portfolio: ‘Everybody loves to grab a bargain, but when you are aiming to make money, buying a share that is rising is a much better idea than having a constant anxiety attack about paying more than the last buyer.’

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