Biota Extends Diabetes Agreement
Melbourne, Australia, 14 July 1997
Biota Holdings Limited (Australian Stock Exchange: BTA) announced today
that it will extend its diabetes agreement with the Commonwealth
Scientific Industrial Research Organisation (CSIRO) for work in
developing an orally active treatment for diabetes from three to four
years. The decision to continue this project for an additional twelve
months is based on the encouraging progress that has been made towards
development of an oral replacement for injectable insulin.
"We are pleased that the diabetes project has met all objectives
specified in the three-year program and is now progressing to the next
level," stated Dr. Hugh Niall, Chief Executive Officer of Biota Holdings
Limited. "The ongoing success of this diabetes program is a product of
Biota's commitment to commercially significant projects coupled with the
expertise of the CSIRO's scientific group"
Under the direction of Dr. Colin Ward, Programme Manager, CSIRO
Molecular Science and Dr. Peter Colman, Director of the Biomolecular
Research Institute in Melbourne, structure based design techniques are
being applied to the development of an oral replacement for injectable
insulin. A similar approach was used in the design of Biota's influenza
therapy, zanamivir, currently in Phase III clinical trials with Glaxo
Wellcome.
Diabetes is a disease that is estimated to affect over 100 million
people worldwide, with over 10 million sufferers in the US alone, where
the disease causes about 300,000 deaths each year. It is an important
cause of blindness and kidney failure in long-standing cases.
"Diabetes is a serious illness affecting large numbers of people in the
western world and a growing number in developing countries," stated a
CSIRO spokesperson. "Biota and CSIRO believe that the approach being
pursued offers the potential for providing a more convenient and
effective treatment for diabetes than is currently available."
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 trade in the US on the pink sheets at a ratio
of three shares to each ADR
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