Patent grant sees Novogen shares soar
Tuesday, 14 January, 2003
Novogen's share price jumped more than 11 per cent to $3.81 yesterday after the company announced that an Australian patent had been granted for its topical skin repair treatment NV-07a.
A US patent for the treatment was granted late last year and other international patents are in the pipeline, said research director Prof Alan Husband.
The NV-07a treatment, which is a topical form of a synthetic isoflavonoid, has been developed by the company as an after-sun treatment. According to Husband, the compound is active in several ways, reducing inflammatory processes that cause skin damage like wrinkles, boosting the skin's immune system and repairing the sun-induced DNA damage which can lead to cancer.
Pre-clinical studies at the University of Sydney have demonstrated that mice treated with the topical cream after exposure to UV light had much reduced incidence of skin damage as well as skin cancer.
The company is also testing the treatment in human clinical trials at the Queensland Institute of Medical Research and the Royal Prince Alfred Hospital in Sydney. While the trials are ongoing, Husband said that preliminary data had shown that application of NV-07a increased the levels of anti-inflammatory molecules in the skin as well as reducing the incidence of DNA damage.
"We have been very encouraged by these findings, and on this basis we are seeking licensing partners for commercialisation," said Husband. He said the combination of a strong patent position; good preclinical data and good clinical data were essential ingredients for the commercialisation of NV-07a to proceed.
In addition, as a topical treatment, the product was not subject to the same regulatory process as other drugs, and could be on the market relatively fast.
Novogen was in discussion with potential partners, according to Husband. Ideally the company would be interested initially in manufacturers of high-end cosmetic products.
Husband noted the NV-07a program had been supported by the Federal government's R&D Start grant scheme, which he said was an important factor in the development of the product.
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