Live Currency Rates
 
  Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Viralytics banks A$1.5M to advance cancer killing virus programs  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 13/11/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - ProactiveInvestors - Australia) Viralytics Limited (ASX: VLA) has received a A1.5 million research and development tax concession from the Australian Taxation Office, greater than the originally estimated 871,000.

The funds will go towards to the company's oncolytic virus programs including the Phase 2 melanoma study in the U.S. and other potential indications such as bladder cancer.

Importantly, Viralytics is well funded with 4.5 million in cash reserves at the end of the September 2012 quarter, with the new funds to build on this.

The company's lead product is CAVATAK, which is currently being evaluated in a Phase II melanoma trial in the U.S.

The Phase II extension study is being conducted to continue CAVATAK treatment for patients who display a clinical benefit, as well as enable Viralytics to continue studying the effectiveness of the CAVATAK treatment over a further six month period.

Direct injection of CAVATAK into tumors may kill cancer cells by the lytic action of the virus.

This action also releases tumor cell debris that may illicit a response by the patient's own immune system against the tumour.

Viralytics is the only Australian company developing oncolytic virotherapy for the treatment of cancer.

Demonstrating the potential and the interest in the technology, a number of North American biotechs developing similar technologies have been the subject of takeovers by larger companies.

One example is the US1 billion acquisition of Biovex by Amgen.

As Viralytics progresses the development of its CAVATAK treatment, it could potentially attract increased foreign interest.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help