Starpharma secures full ownership of VivaGel technology

Melbourne drug developer Starpharma (ASX:SPL) has acquired outright ownership of its VivaGel technology following changes to licence arrangements that were executed when Starpharma was spun-out of the Biomolecular Research Institute (BRI) in 1996.

The new agreement includes three key patent families, and in part forms the original technology of its VivaGel family of products. A 25 per cent royalty that was payable to BRI has also been cancelled. In return Starpharma has issued BRI 7.112 million ordinary fully paid shares in the company (representing a 6.39 per cent holding).

Starpharma CEO Dr John Raff said in a statement, "This is the right deal at the right time and it is very much in the interests of our shareholders. By having complete ownership of the underlying technology, Starpharma will have greater freedom and control over the process of commercialising the VivaGel family of products."