Starpharma released its interim report and financial results for the half-year ended 31 December 2010.

Financial Results

• Cash position at 31 December 2010 $19.7M
• Net cash burn for the half-year $3.1M
• Operating cash outflows for the half-year $3.75M
• Reported loss $4.2M.

The cash balance at 31 December 2010 was $19.7m compared to $22.8m at 30 June 2010. The Operating & Investing cash outflow of $1.5m for the quarter includes costs of the phase 2 bacterial vaginosis (BV) program.  Progress with the Phase 2 BV acute-treatment study for VivaGel^®, which commenced in July 2010 has been pleasing, with 90% of patients (119 from a total of 132) now enrolled.

Abstract: Starpharma is carving up and carving out in as many ways as possible product and application opportunities from its dendrimer chemistry platform. Dendrimers are synthetic, branch like chemical structures that can be engineered very precisely. The addition of smaller functional groups on the periphery or even with the greater structure is what makes the chemistry so versatile.

Download: Bioshares Issue 392 ( pdf file, 45kb)

In accordance with Listing Rule 3.13.2 and section 251AA of the Corporations Act, we advise that details of the resolutions and the proxies received in respect of each resolution considered by the Starpharma Holdings Limited Annual General Meeting are set out in the attached proxy summary. 

View the Chairman's address and CEO's presentations from the 2010 Annual General Meeting held on 11 November 2010.

AGM 2010 Chairman & CEO's Presentation ( pdf file, 1012kb)

Reckitt Benckiser has announced that it has completed its £2.5bn acquisition of SSL after gaining approval from more than 85% of SSL's shareholders by last Friday.  As a result, SSL is now formally part of Reckitt Benckiser and its leading global condom brand Durex will be added to Reckitt’s portfolio of health and personal care “Powerbrands” which include Nurofen, Strepsils and Clearasil.

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.

Starpharma Holdings Limited (ASX:SPL, OTCQX:SPHRY) is one of 20 Australian companies, and one of only two Biotechs, selected to present at the third annual ASX Small to Mid Caps conference in Hong Kong. The ASX Hong Kong conference is part of a series of international investor events designed to showcase emerging Australian small and mid-cap listed companies to investors in Asia, Europe and the US.

Watch the presentation

Starpharma today announced the signing of a collaborative research agreement with leading US pharmaceutical corporation Eli Lilly and Company.

The new agreement relates to a co-development program for one of Starpharma’s dendrimer-drug conjugates.