Starpharma close to first major revenues

Starpharma (ASX:SPL) is on the verge of receiving its first substantial revenues, with licensee Ansell securing Australian regulatory certification for a line of VivaGel condoms.

The TGA has issued a Conformity Assessment Certification for a line of condoms coated with Starpharma’s antimicrobial gel VivaGel.

A Conformity Assessment Certification is the first stage to securing approval to sell therapeutic products in Australia. The final stage is a listing on the Australian Register of Therapeutic Goods.

Ansell plans to launch the line - branded LifeStyles Dual Protect - in the coming months. The product will carry the VivaGel brand and Starpharma will be entitled to royalties based on sales.

Starpharma’s licensing agreement with Ansell carries markets outside of Japan. The company has a separate deal with Okatomo Industries covering the Japanese market. Okatomo secured approval earlier this year to market VivaGel-coated condoms in the nation.

Ansell captures around 20% of the world’s condom market and expects regulatory approval in Australia to assist with the application process in other markets.

Starpharma (ASX:SPL) shares were trading 8.55% higher at $0.635 as of around 2 pm on Monday.