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SPHRY- Star Pharma Holdings. Its a long term thing.
SYDNEY, Australia, Oct. 16 /PRNewswire-FirstCall/ -- Starpharma Holdings Ltd (ASX: SPL, Pink Sheets: SPHRY) today announced the signing of an agreement with SSL International plc (LSE: SSL - News), owner of Durex®, the world's leading condom brand.
he agreement, under which a commercial licence will be negotiated, sets out a co-development program for condoms with a VivaGel® coating. Undisclosed fees are payable to Starpharma under the co-development agreement, which also provides for the commencement of regulatory and market development activities by the two parties.
SSL is the world's largest manufacturer of condoms with approximately 30% share of the global market for branded condom sales, selling into over 100 countries around the world. Global condom retail sales in 2005 were approximately $3.2 billion(1)(1), with the top four companies representing as much as 70% of the market.
"We are delighted to be working with SSL, whom we believe will be an excellent co-development partner for VivaGel® as a condom coating," said Starpharma's Chief Executive Officer, Dr. Jackie Fairley. "In addition to SSL's unparalleled global commercial position and the strength of the Durex® brand, Starpharma also values the organisation's innovative approach, and its social-marketing program.
"Our development and commercialisation activities for VivaGel® are gathering momentum with this SSL agreement being the second of two unrelated condom coating agreements signed by Starpharma in the last three months," concluded Dr. Fairley.
VivaGel® has been shown to have potent contraceptive and microbicidal properties in animal studies, and is also under development as a stand-alone gel to prevent the transmission of STIs, including HIV and genital herpes.
About Starpharma:
Starpharma Holdings Limited (ASX: SPL, Pink Sheets: SPHRY) is a world leader in the development of dendrimer nanotechnology for pharmaceutical, life-science and other applications. SPL is principally composed of two operating companies, Starpharma Pty Ltd in Melbourne, Australia and Dendritic Nanotechnologies, Inc. in Michigan, USA. Products based on SPL's dendrimer technology are already on the market in the form of diagnostic elements and laboratory reagents.
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.
For further information:
Media Rebecca Wilson Buchan Consulting Tel: +61 2 9237 2800 Mob: +61 417 382 391 rwilson*bcg.com.au
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