BIOTA AND PANBIO SIGN MARKETING AND DISTRIBUTION AGREEMENT FOR BIOTA'S INFLUENZA DIAGNOSTIC TEST
Glaxo Wellcome Australia Makes Initial Purchase of AB FLU OIAr
Melbourne, Australia, 28 May 1998
Biota Holdings Limited today announced that it has signed a marketing and distribution agreement in Australia with PanBio Pty Ltd, for Biota's AB FLU OIAr rapid, point of care influenza diagnostic test. Distribution is planned to begin in the southern hemisphere winter of 1999.
Biota retains the worldwide marketing rights for the diagnostic outside Australia and the US, and is currently reviewing additional alliances to market and distribute the product in other areas.
BioStar, Biota's development partner for AB FLU OIA, is responsible for all US marketing efforts. Marketing of the diagnostic in the northern hemisphere is planned for late 1998.
PanBio of Brisbane, Queensland, develops, manufactures and markets a range of medical diagnostic test kits for hospitals and pathology laboratories. The company was formed in 1987, and has been ranked in the Business Review Weekly Top 100 Fastest Growing Australian Companies consecutively over the last five years.
"We are pleased to have PanBio working with us on the AB FLU OIA product," said Dr. Hugh Niall, Chief Executive Officer of Biota. "Their strong commitment to and expertise in the marketing and distribution of point of care diagnostics in Australia will enable us to realise the full revenue potential of the diagnostic in Australia."
Mr. Mel Bridges, Executive Director of PanBio said, "As an Australian owned biotechnology company we are excited by the opportunity of working closely with Biota in providing diagnostic tests to support the release of this important new influenza therapeutic in the Australian market."
Utilising BioStar's proprietary Optical ImmunoAssay (OIAr) technology, the AB FLU OIA allows the practitioner to collect a patient specimen and detect both influenza A and B within 15 minutes. The test also has the potential to provide rapid diagnosis of unusual flu variants, such as the recent avian virus found in Hong Kong. Currently available influenza diagnostics detect only influenza A or require hours or days to provide results.
"We expect that it will become an effective tool in quickly identifying patients with influenza, who can then be treated with the influenza therapy, Relenza, when it becomes available."
Separately, Biota announced that Glaxo Wellcome Australia has purchased AB FLU OIA units from Biota for use in influenza surveillance studies to be conducted this winter.
RelenzaTM, the first effective treatment for all strains of influenza, was filed with the Therapeutic Goods Administration for marketing approval in Australia on 30 March 1998, after Phase III clinical trials were conducted in the Southern Hemisphere during the last flu season. Phase III clinical trials with Relenza are currently being completed in the Northern Hemisphere. Relenza is being developed in a partnership with Glaxo Wellcome and filing for regulatory clearance worldwide is expected in the second half of 1998.
"Glaxo Wellcome's use of AB FLU OIA in influenza surveillance studies is a significant show of support for our product. We are confident that the rapid and accurate detection offered by the diagnostic will greatly facilitate progress of the studies," concluded Dr. Niall.
Influenza may affect as many as 500 million people world-wide a year, and its economic impact is substantial in terms of days off work and lost productivity. In high risk groups -- eg: the elderly, those with respiratory problems, diabetes and cardiovascular disease and those with weakened immune systems, the complications of influenza, such as pneumonia, can be fatal.
Biota is an Australian listed company (BTA), based in Melbourne and engaged in the funding and management of a research and development program focusing principally on the discovery of new human pharmaceuticals for the treatment of viral respiratory diseases and cancer. The Company's ADRs (BTAHY) trade in the US on the pink sheets at a ratio of three shares to each ADR.
For further information please contact:
Dr. Hugh NiallMr. Michael MooreChief Executive OfficerTurnbull Porter NovelliBiota Holdings LimitedTelephone: 61 3 9289 9555Telephone: 61 3 9529 2311
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