Starpharma Holdings has made significant strides in advancing its proprietary dendrimer technology platform, securing a major partnership with Genentech and achieving clinical milestones that position the company for potential regulatory acceleration in oncology applications.
The Australian biotechnology company's DEP (Dendrimer Enhanced Product) platform has now treated more than 350 patients across clinical trials, demonstrating both versatility and scalability in addressing critical drug delivery challenges including solubility, biodistribution, and tolerability issues.
FDA Recognition for Ovarian Cancer Program
A key highlight emerged from Starpharma's DEP SN38 program targeting platinum-resistant ovarian cancer, where the US FDA indicated the program could be eligible for Fast Track designation and potentially accelerated approval. This recognition acknowledges the significant unmet medical need for more effective treatments in this challenging indication.
The clinical credibility of DEP SN38 was further reinforced in August when results from the program were published in the Journal of Clinical Oncology, strengthening the commercial case for out-licensing discussions with potential pharmaceutical partners.
Strategic Genentech Collaboration
Starpharma has entered into a collaboration and license agreement with Genentech to develop innovative cancer therapies using the DEP drug delivery platform. The partnership focuses on generating dendrimer drug conjugates incorporating Genentech medicines for specific oncology targets.
Under the agreement terms, Genentech received an exclusive worldwide license and will handle development and commercialization responsibilities. Starpharma secured an upfront payment of $8.3 million and stands to earn up to $855 million in development, regulatory, and commercial milestone payments, plus tiered royalties on global net sales.
"This agreement recognises our dendrimer technology and its potential to benefit novel drug development and we look forward to working with Genentech to realise the advantages presented by our DEP platform," said CEO Cheryl Maley, noting the collaboration builds on three years of collaborative research.
Expanding Pipeline and Partnerships
The company has invested significantly in its radiotheranostics program, particularly HER2-targeted candidates, with extensive preclinical work positioning Starpharma to initiate a first-in-human study in 2026.
Starpharma launched its 'Star Navigator' initiative in June 2025 to streamline collaborations by providing partners access to the DEP platform for research and development. Early projects are already underway with two new collaborators, while ongoing partnerships include ventures with Petalion Therapeutics, Genentech, and MSD.
Commercial Product Growth
The company's commercial products continue expanding globally. VivaGel BV, a non-antibiotic treatment for bacterial vaginosis, is now registered in over 40 countries, with recent launches in Saudi Arabia and the UAE through ITROM Pharmaceutical. A new licensing deal with Synmosa Biopharma covers the Philippines, Malaysia, and Singapore markets.
Viraleze, a broad-spectrum antiviral nasal spray registered in 35 jurisdictions, achieved 40% growth in online sales during financial year 2025, supported by new digital campaigns and a London Underground billboard campaign.
Financial Position and Outlook
For the year ended June 30, 2025, Starpharma reported revenue and other income of $5.9 million, down from $9.8 million in the prior year, which had included a one-off settlement payment of $6.6 million. The net loss after tax was $10 million, compared with an $8.2 million loss in 2024.
Research and development expenditure totaled $8.4 million, focused on advancing DEP radiotheranostics and other pipeline programs. Cash reserves stood at $15.4 million at year-end, down from $23.4 million twelve months earlier.
Chairman Rob Thomas emphasized the company's disciplined approach to resource allocation, guided by three principles: maximizing DEP asset value, accelerating early-stage development, and building long-term sustainability.
"Our mission remains to deliver better outcomes for patients through our unique dendrimer technology," Maley stated. "The progress made in FY25 gives us confidence in our ability to create enduring value for both patients and shareholders."
