Starphama receives Frost & Sullivan leadership award

Melbourne drug developer Starpharma (ASX:SPL) has received the 2005 Frost & Sullivan Growth Strategy Leadership Award for the company's development of VivaGel and other polyvalent dendrimer-based products relating to the world nanobiotechnology market.

The award is given each year to the company that has demonstrated exceptional growth strategy within its industry, in this case for the development of "revolutionary products in a new market sector in the world nanobiotechnology market", according to Frost.

Starpharma's lead product, VivaGel, is a topical polyvalent dendrimer-based vaginal microbicide gel for the prevention of HIV in women and is currently in phase I clinical trials. SPL-7013, the polylysine active ingredient in VivaGel has shown further effectiveness against a range of STIs, including chlamydia, genital herpes (HSV-2), hepatitis B virus and human papilloma virus.

The diversification of Starpharma's growth strategy was noted by Frost & Sullivan, as well as the company's establishment of collaborations and licensing agreements with industrial partners, including its 33 per cent stake in Dendritic Nanotechnologies.

The award came as a surprise for the company, as it didn't apply for it.

"It was completely news to us. We haven't had any dealings with Frost & Sullivan before," said Starpharma commercial manager Tim Grogan. "I wasn't aware they were doing a study on the nanobiotechnology market but they've obviously done extensive analysis and we're very pleased to get the recognition."