MELBOURNE, Australia, Jan. 13 /PRNewswire-FirstCall/ -- Starpharma
Holdings Limited (ASX: SPL, OTC: SPHRY) announced today that it has completed
establishment of a Level 1 American Depositary Receipts (ADR) Program.
Under approval granted by the US Securities Exchange Commission, investors
can now purchase Starpharma ADRs on the US Over-the-Counter market.
Starpharma CEO John Raff described the ADR program as an important step to
facilitate trading of Starpharma securities by US nanotechnology investors.
"Starpharma is the first company in the world to initiate FDA-approved
human clinical testing of a nanotech-based drug. We also have a substantial
presence in US nanotechnology, based upon our strategic investment in
Dendritic Nanotechnologies, Inc (http://www.dnanotech.com), which is currently
unlisted. There is significant interest in our securities among US investors,
and we have established this ADR program to make the process of investing
easier," commented Raff.
Each Starpharma ADR will be equivalent to 10 ordinary shares of Starpharma
as traded on the Australian Stock Exchange. Starpharma ADRs will trade under
the code SPHRY (CUSIP number 855563102). The Bank of New York is the
Starpharma is a world leader in the development of pharmaceuticals based
upon a novel class of nanotechnology chemicals called dendrimers.
VivaGel(TM), the company's polyvalent microbicide for HIV prevention, was
named one of the Top 5 Nanotech Breakthroughs of 2004 by the respected US
publication, the Forbes/Wolfe Nanotech Report. Starpharma recently announced
successful phase 1 clinical trial results for VivaGel(TM).
In addition to the VivaGel(TM) program, Starpharma is developing
dendrimers for other polyvalent pharmaceutical applications. The company's
proprietary dendrimer platform technology provides unique benefits for the
design and synthesis of a very broad range of compounds suited to life
sciences applications, and in particular as pharmaceuticals. Dendrimers'
"bio-friendly" properties, cost of production and precise, reproducible
manufacturing provide unique opportunities for the company to develop and
exploit the technology for high value applications such as pharmaceuticals.
Starpharma Holdings Limited (ASX: SPL, OTC: SPHRY) is focused on the
development and application of dendrimer nanotechnologies as drugs against
major diseases. VivaGel(TM) is a topical microbicide gel product that has been
developed for women as a preventative against the sexual transmission of HIV.
It is also active in animal studies for the prevention of other sexually
transmitted diseases including genital herpes and Chlamydia. SPL also has an
equity interest in a US based company -- Dendritic Nanotechnologies, Inc.
(DNT) -- established with the US pioneer of dendrimer nanotechnology Dr Donald
A microbicide inactivates, kills or destroys microbes. Microbicides may be
formulated as gels, creams, sponges, suppositories or films with the purpose
of reducing significantly the incidence of STDs. There are currently no
vaginal microbicides on the market. They are intended for vaginal or rectal
use to afford protection for varying periods, from several hours up to days.
Microbicides may also be designed to have a contraceptive function by
Dendrimers are a type of nanoparticle. They are man-made chemicals that
form tiny balls made up of a dense network of branches. Dendrimers have
applications in the medical, electronics, chemicals and materials industries.
SOURCE Starpharma Holdings Limited