Broadvector pins ASX hopes on WA sheep

A virus harboured by Western Australian sheep could lead to the next promising treatment in prostate cancer - or at least that's what biotechnology company Broadvector is hoping.

The Sydney based company launched an $8.5 million last month Initial Public Offering and is hoping to list on the ASX in the coming weeks.

Broadvector developed Gene Targeted Enzyme Therapy (GTET) which involves removal of the diseased prostate without surgery - wiping out the risks impotence and incontinence traditionally associated with this type of surgery, which will be trialed at Sydney's St Vincent's Hospital.

The technique was developed by former CSIRO scientist Gerry Both and takes a virus from WA sheep to carry the gene into prostate tissue.

The company says its GTET has the potential to revolutionise treatment for prostate cancer around the world.