Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Starpharma announces $15.6 million capital raising

Abstract:
Starpharma Holdings Limited (ASX:SPL, OTCQX:SPHRY) is pleased to announce a successful capital raising of A$15.6 million through a private placement to institutional and sophisticated investors, taking the company's cash reserves to approximately A$24 million.

Starpharma announces $15.6 million capital raising

Melbourne, Australia | Posted on November 18th, 2009

The lead investor in the placement was Orbis, an existing Starpharma shareholder and a highly regarded institutional fund manager. As a result of this additional investment Orbis will become a substantial shareholder in Starpharma. The company's largest shareholder Acorn Capital also participated in the raising, along with several other existing and new institutional investors.

The placement is for 30 million shares at $0.52 per share, a 9.7% discount to the volume weighted average price of the Company's shares over the prior 20 trading days. The placement was significantly oversubscribed and was managed by Shaw Corporate Finance.

The funds raised will primarily be used to finance a clinical trial program to develop VivaGel® for the treatment of bacterial vaginosis (BV) and to further strengthen the balance sheet for future development and partnering opportunities. Dr Jackie Fairley, CEO of Starpharma said: "We are delighted with the success of this capital raising. The level of institutional demand was particularly high, and we appreciate the strong support received from both existing and new institutional shareholders."

"These additional funds take the company to a new level by allowing us to progress VivaGel® as a
BV treatment through to the completion of Phase 3 clinical trials to support licensing to a major
marketing partner." Dr Fairley added.

VivaGel® as a treatment for BV represents a significant development for Starpharma, with the global
market for topical BV treatments alone estimated at approximately US$300-$350m.

"This is an exciting extension to the development program of VivaGel®. Bacterial vaginosis is the
most common vaginal infection worldwide with more than 21 million women in the US alone
suffering from the infection," said Dr Fairley.

Starpharma already has a significant licensing deal with SSL (owners of Durex® brand) for use of
VivaGel® as a condom coating, NIH funded development programs for VivaGel® for the prevention
of viral sexually transmitted infections, programs focused on drug delivery partnered with Elanco
(Eli Lilly) and Stiefel (GSK), and a program for modifying pesticides with a multi-billion dollar US agrochemical company.

As the shares issued via the private placement fall within the 15% threshold permitted by the ASX
Listing Rules, shareholder approval is not required.

Forward Looking Statements

This document contains certain forward-looking statements, relating to Starpharma's business, which can be identified by the use of forward-looking terminology such as "promising", "plans", "anticipated", "will", "project", "believe", "forecast", "expected", "est mated", "targeting", "aiming", "set to", "potential", "seeking to", "goal", "could provide", "intends", "is being developed", "could be", "on track", or similar expressions, or by express or implied discussions regarding potential filings or marketing approvals, or potential future sales of product candidates. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no assurance that any existing or future regulatory filings will satisfy the FDA's and other health authorities' requirements regarding any one or more product candidates nor can there be any assurance that such product candidates will be approved by any health authorities for sale in any market or that they will reach any particular level of sales. In particular, management's expectations regarding the approval and commercialization of the product candidates could be affected by, among other things, unexpected clinical trial results, including additional analysis of existing clinical data, and new clinical data; unexpected regulatory actions or delays, or government regulation generally; our ability to obtain or maintain patent or other proprietary intellectual property protection; competition in general; government, industry, and general public pricing pressures; and additional factors that involve significant risks and uncertainties about our products, product candidates, financial results and business prospects. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. Starpharma is providing this information as of the date of this document and does not assume any obligation to update any forward-looking statements contained in this document as a result of new information, future events or developments or otherwise.

####

About Starpharma
Starpharma Holdings Limited (ASX:SPL, OTCQX:SPHRY) is a world leader in the development of dendrimer technology for pharmaceutical, life-science and other applications. SPL has two operating companies, Starpharma Pty Ltd in Melbourne, Australia and DNT, Inc in the USA. Products based on SPL’s dendrimer technology are already on the market in the form of diagnostic elements and laboratory reagents through licence arrangements with partners including Siemens and Merck KgA.

The Company’s lead pharmaceutical development product is VivaGel® (SPL7013 Gel), a vaginal microbicide designed to prevent the transmission of STIs, including HIV and genital herpes. In September 2008 Starpharma signed a full licence agreement with SSL International plc (LSE:SSL) to develop a VivaGel® coated condom. SSL manufactures and sells Durex® condoms, the market-leading
condom brand worldwide. Starpharma's receipts under the agreement are estimated to exceed A$100m comprising royalties on SSL sales, further milestone payments, and development support.

In the wider pharmaceutical field Starpharma has specific programs in the areas of Drug Delivery and Drug Optimisation technologies (using dendrimers to control where and when drugs go when introduced to the body) and Targeted Diagnostics (using dendrimers as a scaffold to which both location-signalling and targeting groups are added to allow location of specific cell type, such as cancer cells).

More broadly the company is exploring dendrimer opportunities in materials science applications including water remediation.

Dendrimer: A type of precisely-defined, branched particle. Dendrimers have applications in the medical, electronics, chemicals and materials industries.

American Depositary Receipts (ADRs): Starpharma’s ADRs trade under the code SPHRY (CUSIP number 855563102). Each Starpharma ADR is equivalent to 10 ordinary shares of Starpharma as traded on the Australian Securities Exchange (ASX). The Bank of New York Mellon is the depositary bank. Starpharma’s ADRs are listed on International OTCQX (www.otcqx.com), a premium market tier in the U.S. for international exchange-listed companies, operated by Pink OTC Markets, Inc.

For more information, please click here

Contacts:
Kyahn Williamson
Tel: +61 3 9866 4722
Mob: +61 401 018 828

Copyright © Starpharma

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Keeping electric car design on the right road: A closer look at the life-cycle impacts of lithium-ion batteries and proton exchange membrane fuel cells December 9th, 2016

Further improvement of qubit lifetime for quantum computers: New technique removes quasiparticles from superconducting quantum circuits December 9th, 2016

Chemical trickery corrals 'hyperactive' metal-oxide cluster December 8th, 2016

Scientists track chemical and structural evolution of catalytic nanoparticles in 3-D: Up-close, real-time, chemical-sensitive 3-D imaging offers clues for reducing cost/improving performance of catalysts for fuel-cell-powered vehicles and other applications December 8th, 2016

Govt.-Legislation/Regulation/Funding/Policy

Chemical trickery corrals 'hyperactive' metal-oxide cluster December 8th, 2016

Researchers peer into atom-sized tunnels in hunt for better battery: May improve lithium ion for larger devices, like cars December 8th, 2016

Scientists track chemical and structural evolution of catalytic nanoparticles in 3-D: Up-close, real-time, chemical-sensitive 3-D imaging offers clues for reducing cost/improving performance of catalysts for fuel-cell-powered vehicles and other applications December 8th, 2016

Exotic insulator may hold clue to key mystery of modern physics: Johns Hopkins-led research shows material living between classical and quantum worlds December 8th, 2016

Investments/IPO's/Splits

Harris & Harris Group Issues Letter to Shareholders and Information for Shareholder Call on Tuesday, November 15, 2016 November 14th, 2016

Harris & Harris Group Issues Business Update and Reports Financial Statements as of September 30, 2016 November 9th, 2016

Forge Nano raises $20 million in Series A Funding: Nano coating technology innovator Forge Nano will use funding to expand manufacturing capacity and grow Lithium-Ion battery opportunities November 3rd, 2016

Harris & Harris Group Notes Announcements by Its Portfolio Companies During the Third Quarter of 2016 September 30th, 2016

Nanomedicine

Arrowhead Pharmaceuticals to Webcast Fiscal 2016 Year End Results December 7th, 2016

Fast, efficient sperm tails inspire nanobiotechnology December 5th, 2016

Journal Nanotechnology Progress International (JONPI) Volume 6, issue 2 coming out soon! December 5th, 2016

UTSA study describes new minimally invasive device to treat cancer and other illnesses: Medicine diffusion capsule could locally treat multiple ailments and diseases over several weeks December 3rd, 2016

Announcements

Keeping electric car design on the right road: A closer look at the life-cycle impacts of lithium-ion batteries and proton exchange membrane fuel cells December 9th, 2016

Further improvement of qubit lifetime for quantum computers: New technique removes quasiparticles from superconducting quantum circuits December 9th, 2016

Researchers peer into atom-sized tunnels in hunt for better battery: May improve lithium ion for larger devices, like cars December 8th, 2016

Scientists track chemical and structural evolution of catalytic nanoparticles in 3-D: Up-close, real-time, chemical-sensitive 3-D imaging offers clues for reducing cost/improving performance of catalysts for fuel-cell-powered vehicles and other applications December 8th, 2016

Nanobiotechnology

Arrowhead Pharmaceuticals to Webcast Fiscal 2016 Year End Results December 7th, 2016

Fast, efficient sperm tails inspire nanobiotechnology December 5th, 2016

Deep insights from surface reactions: Researchers use Stampede supercomputer to study new chemical sensing methods, desalination and bacterial energy production December 2nd, 2016

Nanobiotix Provides Update on Global Development of Lead Product NBTXR3: Seven clinical trials across the world: More than 2/3 of STS patients recruited in the “act.in.sarc” Phase II/III trial: Phase I/II prostate cancer trial now recruiting in the U.S. November 28th, 2016

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project