Share price increase follows Biotron's HIV success
Tuesday, 28 May, 2002
Canberra biotech Biotron has announced that its lead anti-HIV compound, BIT009 has shown inhibition of HIV-1 replication in infected human cells.
The announcement caused Biotron's (ASX: BIT) stock price to soar by 90 per cent last Friday, closing at 49.5 cents after trading as high as 74 cents. At the time of writing the stock price was 50 cents.
The compound targets the ion channel forming activity of the viral protein Vpu, which is involved in the "budding" process that releases newly formed virus from the cells. The study results indicated that 90-100 per cent inhibition of HIV-1 replication was achieved, compared with infected cells not treated with BIT009.
"The results are exciting and very satisfying and confirm the approach the Company is taking," said Prof Peter Gage, research director of Biotron.
By inhibiting HIV-1 replication, the researchers hope that the development of AIDS after infection could be prevented.
Other anti-HIV drugs currently on the market do not target the budding process.
Gage said that the results demonstrated proof-of-concept of the company's HIV drug discovery platform.
According to Dr Michelle Miller, Biotron's business development manager, the company is continuing to evaluate the mode of action of BIT009 and its analogues, as well as determining whether the virus can develop resistance against it.
"We've done some studies that show that it doesn't generate resistance easily," Miller said.
Biotron is also following a number of other paths to add value to its drug discovery platform, explained Miller. The company is using rational drug design to develop novel compounds that may also inhibit the HIV-1 Vpu protein and is developing screening assays for the rapid screening of compound libraries.
"We really want to be in a strong position before talking to pharmaceutical companies," Miller said.
Biotron was formed to commercialise research coming out of the John Curtin School of Medical Research. It floated on the ASX in early 2001.
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