Perth-based Eastland Medical Services Ltd is on the verge of bringing its revolutionary anti-malaria treatment to the market, with clinical trials due to be completed within months and plans for a German-based manufacturing facility well advanced.
Perth-based Eastland Medical Services Ltd is on the verge of bringing its revolutionary anti-malaria treatment to the market, with clinical trials due to be completed within months and plans for a German-based manufacturing facility well advanced.
Floated on the back of its ClipOn retractable safe needle device in 2002, Eastland was one of a number of Western Australian companies marketing various forms of safe needles, each with varying levels of success.
But the company’s chief executive Dermot Patterson, who was appointed to the role in August 2006, says it had a stroke of luck when director Doug Sims met UK-based scientist and inventor of the anti-malaria treatment ArTiMist, Calvin Ross, through a mutual friend.
In December 2006, Eastland secured the rights to distribute ArTiMist, an anti-malaria treatment targeted at infants and children delivered through a spray under the tongue.
The spray delivery has been found to attack the malaria parasite at a greater speed than the conventional tablet form, and is also suitable for children who are experiencing malaria-related symptoms, such as malnutrition and gastrointestinal problems, and have difficulty absorbing tablets.
“The change of direction came out of the blue,” Mr Patterson said.
“We want to take it with both hands and we’re driving the company to take advantage of the opportunity.”
Mr Patterson said the company was on track to commence commercialisation of ArTiMist in the first half of 2008, after spending between $2 million and $3 million in development, and holding trials during the past 12 months.
Recent trials in Malaysia showed excellent results, with better-than-expected absorption rates and no adverse effects.
Mr Patterson says the first conditional orders of ArTiMist are expected to come in shortly following the positive results of the Malaysian trials. Multi-dose trials, currently being undertaken in South Africa, will be completed in January.
The manufacturing of ArTiMist will be centralised in Germany, with plans drawn up to construct its $14 million manufacturing facility in the former East Berlin. Eastland’s German subsidiary, HC Berlin Pharma AG, will list on the Frankfurt Stock Exchange early next year.
More than 500 million cases of malaria are reported each year, with about 90 per cent of those occurring on the African sub-continent.
Eastland has been on the acquisition trail during the past 12 months, recently acquiring New South Wales medical services and equipment provider Phoenix Medical Equipment Services, and upping its stake in Star Medical (Botswana) Ltd, owned by the Mandela family, to 55 per cent.
Its other subsidiaries include Westcoast Surgical and Medical Supplies, Portland Surgical Products and a 50 per cent stake in Ampack Medical.
