VivaGel condoms on sale at Woolworths: Starpharma

Starpharma (ASX:SPL) has revealed that condoms using its VivaGel antimicrobial gel are now available in Australian stores.

Condom developer Ansell has launched its LifeStyles Dual Protect brand condoms, the first with an antiviral agent, in Woolworths stores across Australia.

The products use both Ansell’s and Starpharma’s VivaGel branding, and Starpharma will receive royalties based on sales.

“This product is a great example of a globally significant innovation developed and commercialised by two Australian companies,” Starpharma CEO Dr Jackie Fairley said. “Consumer interest in the product has been high and the remarkable interest seen on social media bears this out.”

Starpharma also revealed it has received a $4.2 million R&D tax incentive refund covering its spending for the year ending in June.

The refund covers spending on Starpharma’s VivaGel and DEP docetaxel programs. VivaGel is also developing a VivaGel product for the prevention of recurrent bacterial vaginosis (BV) and is trialling DEP docetaxel in a range of solid tumours.

Starpharma recently completed an $18 million placement to help fund these clinical programs and will wrap up an up to $5 million share purchase plan at close of business Wednesday.

The company revealed it has so far received applications for more than 65% of the total offer. Any shortfall may be placed with institutional investors.

Starpharma (ASX:SPL) shares were trading 2.72% higher at $0.642 as of around 1.30 pm on Wednesday.