Starpharma finalises US nanotech set-up

Australia's place in the futuristic world of nanotechnology has been further cemented with the set up of Dendrimer Nanotechnologies (DNT) now complete.

Starpharma Pooled Development (ASX: SPL) today announced the completion of the establishment of its new Australian company, a joint venture with dendrimer pioneer Dr Donald Tomalia.

The final step in the process involved the granting by Tomalia of intellectual property licences for the rights to 33 patent families covering more than 180 granted patents globally.

The patent, related to dendrimers and dendritic polymers, cover such applications as nanomaterials, drug delivery, diagnostics, gene transfection and therapy, water soluble metals, chemical catalysts, optical and electro active applications and novel new dendrimer structures.

While Australian, the new company will have its operations based in the United States where Tomalia and his team of scientists will be employed on a full-time basis.

Starpharma chief executive officer Dr John Raff said the creation of DVT was a significant achievement for an Australian company, with the initiative complimenting Starpharma's existing dendrimer-based business opportunities.

"The combined expertise and patent position of DNT and Starpharma represents a major proportion of the world's intellectual property on dendrimer applications," Raff said.

"Furthermore DNT has the opportunity for early cash generation and significant wealth creation as dendrimer technology is incorporated into a broad range of industry applications."

Under the terms of the agreements, Starpharma retains ownership of its entire patent portfolio, which focuses on the pharmaceutical applications of dendrimers.

Starpharma will also have commercialisation rights to DNT's existing and future dendrimer technology in the area of dendrimer-based nanodrugs.

Tomalia described the establishment of DNT and its relationship with Starpharma as without precedent.

"We have a unique opportunity to transform high value industries through the utilisation of dendritic nanotechnology," he said.

The major shareholders in DNT are Tomalia and Starpharma, with other key investors including founder employees, Central Michigan University (CMU) and the Professor of Chemistry at the University of California, Berkeley, Jean Frechet.

Frechet will also be a scientific adviser to DNT, which is to be situated at CMU as the first tenant of it Centre for Applied Research and Technology.

In a statement to the market, Starpharma listed DNT's business objectives as being to:

• Build the leading industry team of dendrimer specialists and become the partner of choice in commercialising dendritic technologies.
• Reduce the cost of dendrimer manufacture, resulting in increased profits and facilitating the commercialisation of cost-effective dendritic products.
• Extend its existing intellectual property position by researching, designing and patenting novel dendritic technologies.
• Extend the horizons of intellectual property relating to dendrimers.
• Become the leading supplier of high quality dendrimers for research purposes.

At the time of writing, Starpharma shares were unchanged at 60 cents.