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11-10 :: October 2011
nanotimes
Companies Facts
• Commencement of the Phase 2 study of VivaGel® for prevention of BV;
• Initial results of Starpharma’s internal agrochemical program demonstrating Starpharma’s Priostar® dendrimers improve the performance of major agrochemical agents including glyphosate (the active ingredient in Roundup®
); and
• further studies of Starpharma’s dendrimer- Docetaxel formulation in the Company’s drug delivery program.
Starpharma also signed and commenced several new drug delivery and agrochemical partnered programs during the quarter. The Company now has a broad range of commercial partnerships in these two areas, including with Lilly, GSK, Elanco, and a number of undisclosed industry-leading partners.
Furthermore, Starpharma has successfully raised A$32 million via a placement to international and domestic institutional, sophisticated and professio- nal investors. It is intended to offer eligible existing shareholders the opportunity to also participate via a share purchase plan to raise up to a further A$3 milli- on. The placement was conducted at the last closing price prior to trading halt (A$1.075 per share), and was significantly oversubscribed. There was strong participation in the placement from existing institu- tions including large global funds and local investors.
Funds raised will be used to accelerate and complete both VivaGel®
Bacterial Vaginosis Phase 3 Programs
(Treatment, and Prevention of Recurrence) suppor- ting an NDA filing and commercial licence, as well as allowing the company to advance multiple product opportunities across its drug delivery and agrochemi- cal programs.
S
Starpharma Chief Executive Officer Dr Jackie Fairley said: “2011 has seen major advances in all three of Starpharma’s key strategic focus areas – VivaGel®
,
drug delivery and agrochemicals. This capital raising changes the course of the company in terms of our ability to advance these more rapidly in parallel to optimise commercial outcomes.”
urrette Battery Company will sell Corvus Energy Ltd.’s lithium-polymer batteries under its Rolls
Battery brand.
Since 1935, Surrette Battery Company has supplied premium lead-acid batteries to a variety of markets with heavy power needs, including super yachts, locomotives and major renewable energy applica- tions such as village electrification. Surrette’s part- nership with Corvus Energy will provide Surrette with lithium-polymer batteries capable of handling diesel- scale energy requirements.
“A partnership with Corvus Energy, a world-class, industrial-quality, lithium-polymer battery manufac- turer, is an exciting opportunity for Surrette Battery to broaden our product offering,” said James Surret- te, president and chief executive officer of Surrette Battery Company. “Corvus’ large-format, lithium- polymer technology provides an alternative solution for our existing Renewable Energy and Diesel Electric Rail customers who seek a product for large-scale, scalable, high-power energy storage.”
Corvus’ energy storage modules are up to 10 times more powerful than lead-acid batteries and are more
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