biotech & healthcare weekly snippets

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    Biotech & Healthcare Weekly Snippets
    08:17, Tuesday, 29 March 2005

    Sydney - Tuesday - March 29: (RWE)
    from ABN AMRO Morgans analysts Tanya Solomon and Scott Power

    Tissue Therapies (TIS) has released pre-clinical trial results
    for VitroGro to treat childhood burns. The results exceeded even the
    company's expectations. The key message to take away here is that burns
    in children typically take 8 weeks to heal, but with TIS's approach, they
    take 2-3 weeks to heal. This is important as in childhood burns,
    skin that is scarred does not grow with the child, requiring repeated
    surgery and grafting as the child grows. VitroGro (in conjunction with
    the current leading burns treatment Acticoat, marketed by Smith & Nephew)
    is able to heal the types of burns suffered by children in 2 to 3 weeks
    and also has the potential to reduce scarring and therefore the need for
    repeated surgery as the child grows. TIS expects to have VitroGro
    available for hospital use in 2007. A great story.

    *****

    Life Therapeutics (LFE) will sell its Frenchs Forest facility.
    The CEO and the majority of the senior management team relocated to LFE's
    Atlanta facility earlier this year, following the acquisition of
    Atlanta-based Life Sera in 2004. According to the CFO, early market
    indications suggest the sale will realize A$9.5-10m. Funds from this sale
    will be used to pay out the existing bank debt of A$5.3m and fund working
    capital needs of increases in inventory and debtors as sales in the US
    continue to expand.

    Clinical Cell Culture CCE has announced the receipt of CE Mark
    approval for ReCell. ReCell is a medical device which will assist
    surgeons in repairing a wide range of skin defects within a 30-60 minute
    time period. 13 distributors have been appointed covering 15
    countries. The first commercial sales for ReCell are now expected
    imminently. This is good news for the company; however the share price
    failed to respond.

    *****

    PANBIO PBO’s financial forecast for FY05 has been revised. The
    company now anticipates a loss after tax to be in the range of -$1.8m to
    -$2.2m. This is a result of the termination payment paid to former CEO,
    Jim Porter. The company had previously provided guidance of a net loss
    for FY05 to be between -A$1.4m and -A$1.7m. This is more negative news
    for the company and we no longer have a positive view.

    *****

    Alchemia (ACL) ACL has announced it would advance its lead
    anti-cancer compound (called ACL16907) further through the drug
    development pipeline, with the goal of taking the compound into human
    trials in 06. ACL will undertake formal pre-clinical toxicology and
    safety studies required for an Investigational New Drug (IND)
    application with the FDA. It is expected that the company will enter into
    preliminary discussions with the FDA on this in the 2QCY05, and that the
    first human clinical trials will commence in 1HCY06. This is another of a
    series of milestones that the company has met on time and is positive
    news.

    ENDS
 
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