Local cancer fighters have wins

Three Western Australian biotechnology companies have had wins in their fights to find cures for cancer.

Solbec Pharmaceuticals announced on February 15 that it had successfully completed a second stage of its phase one trial of Coramsine in the treatment of advanced solid tumours.

Another WA biotechnology player BioPharmica, has also announced that it has started trials that could help develop a test to detect cancer earlier and more accurately than existing methods.

The third successful cancer treater has been pSivida which has reported good results from its trial in inoperable primary liver cancer patients.

The Solbec trials, which started at Sir Charles Gairdner Hospital in December 2003, recruited patients with advanced refractory solid tumours and set out to investigate safety, tolerability and pharmacokinetics, while identifying the maximum tolerated dose of Coramsine given a two-hour infusion.

Pharmacokinetics is the mathematics of the absorption, distribution, metabolism and excretion of drugs in the body.

That trial met its research objectives and the protocol was amended in June 2004 to examine the same objectives while doubling the Coramsine infusion period to four hours.

Preliminary results show the trial met its objectives and that the drug, infused over four hours is safe and tolerated at a level 50 per cent greater than had been used in the two hour infusion.

Of the 19 patients enrolled in the trial, three have shown evidence of benefit with reduction in the size of tumours.

To be eligible for the trial patients had to have exhausted other therapeutic options.

In an announcement to the Australian Stock Exchange, Solbec says the advanced and treatment resistant nature of the cancers in those patients meant the efficacy of the trials was unusual and pointed to very promising results.

Solbec’s two proprietary ingredients in Coramsine have been derived from the fruit of a weed known colloquially as Devil’s Apple.

BioPharmica is using a gene marker known as HLS5 to identify cancer. Its pilot study of 20 breast cancer cell lines found that more than 50 per cent tested had a fault in the HLS5 gene, which indicated that cancer cells were able to grow when that gene became faulty and that a fault in the HLS5 gene may be associated with a majority of breast cancers.

The company is starting a pre-clinical trial, in conjunction with the WA Institute for Medical Research that will involve a 70-sample study of the HLS5 cancer marker in normal and confirmed breast, ovarian, lung and colon tissue.

BioPharmica hopes to conduct a further trial in May that will increase sample numbers.

A team of scientists led by Professor Peter Klinken discovered the tumour suppressor gene known as HLS5 at the University of WA.

The pSivida trial showed its Brachysil product was safe and effective in tumour regression with increased efficacy.

Results from the second group of 14 patients, 12 weeks after their Brachysil treatment, revealed an average tumour regression of 80 per cent, as determined by CT scanning.

The trial also demonstrated that there were no product-related adverse effects.

BrachySil is a micron-sized particle in which the isotope 32-phosphorous is immobilised.

That BrachySil particle is immoblised in the tumour, significantly reducing the risk of leakage or systemic side effects.

BrachySil is the lead product from pSivida’s suite of biosilicon products.

Perilya builds Korean link

PERILYA has reached an in-principle agreement with the Korea Zinc Group that could result in the Korean company furnishing the Western Australian zinc player with a $20 million financial facility. Perilya currently has a $US15 million loan in terms of a facility agreement with KZG that it executed in 2002.

That loan is to be repaid through the issue of 19.2 million shares, which will give KZG a 10.4 per cent stake in Perilya.

Under the new arrangement KZG will provide Perilya with a $20 million financial facility secured on drawdown against Perilya’s Broken Hill assets.

The funds are for working capital and operational requirements for however long KZG holds rights to buy zinc and lead concentrates from Perilya Broken Hill Limited.

The second part of the new arrangement involves a zinc concentrate offtake arrangement that gives KZG the right to acquire all of the zinc and lead concentrate produced at Broken Hill on terms benchmarked to industry terms and negotiated annually on a spot and frame basis for at least six years.

However, the arrangement is subject to PBHL having the right to sell part of its zinc concentrate and the bulk of its lead concentrate production to third parties.

Grange enters Malaysian pact

GRANGE Resources has entered into a heads of agreement to buy land in the Malaysian port city of Kemaman to build a magnetite pellet project and secure port facilities.

The company recently announced it would undertake a bankable feasibility study on the development of the Southdown Magnetite Deposit, about 90 kilometres north east of Albany to produce iron ore pellets.

Both the Albany mine and export facility and the Kemaman pellet project and port facility have a combined value of about $800 million.

The agreement has been struck with Pilihan Alam Jaya Sdn Bhd and Sukma Samudera Sdn Bhd. Both companies are wholly-owned subsidiaries of Road Builder Holdings.

Under the agreement Grange will buy up to 60 hectares of land and gain access to port facilities in Kemaman.

Great Southern goes shopping

GREAT Southern Plantations has launched a takeover bid for Sylvatech and also announced plans to buy certain Environinvest assets.

The plantation manager has entered into an agreement with Sylvatech Limited, which is an unlisted public company involved in the development and management of forestry projects on the Tiwi Islands, under which Great Southern will buy all Sylvatech shares for 92 cents a share.

That values Sylvatech at about $50 million.

It is understood the purchase will make Great Southern the largest timber  player in Australia.

Great Southern is also aiming to buy Environinvest’s managed investment scheme cattle projects for about $60 million.

The heads of agreement it has with Environinvest also provides for the assignment by Environinvest of key commercial agreements underpinning the cattle projects, including about 300,000 hectares of leased and agisted grazing land.

Great Southern will also be buying about 3,200 hectares relating to Environinvest’s MIS forestry projects.

Alphawest signs with Manpower

ALPHAWEST has entered into an agreement with UK-based Manpower Software for the sale, implementation and ongoing support of Manpower Software solutions in the Asia-Pacific region.

Under the agreement the two companies will initially work together to develop product for the Australian defence force.

Visiomed, CustomVis join forces

BIOMEDICAL devices developer Visiomed and London Alternate Investment Market-listed ophthalmic surgical laser group CustomVis have formed a joint venture to develop and commercialise the Visiomed Microeye system for screening and diagnosing major eye diseases.

Visomed has been developing Microeye as a computer-based imaging system that allows for the imaging of different regions of the eye using one device instead of a number of devices.

The Microeye system is aimed at helping clinicians screen and diagnose major eye diseases such as cataract, glaucoma, trachoma, diabetic retinopathy and macular degeneration.

Visiomed will own 80 per cent of the joint venture and CustomVis the remaining 20 per cent.

Vulcan ups copper resources

VULCAN Resources has bought the Saramaki and Vuonos copper deposits in Finland.

Both projects were discovered, drilled and estimated by Outokump Oyj.