Starpharma Advances DEP® Pipeline and Expands Market Reach with $17.2M Cash Reserve

Strategic Progress and Clinical Development

Starpharma Holdings Limited (ASX: SPL) has delivered a quarterly update that underscores its ongoing commitment to advancing its dendrimer-enhanced product (DEP®) pipeline while expanding its commercial footprint. The company’s latest quarterly activities report reveals a deliberate delay in the clinical program for DEP® SN38, now targeted for commencement in FY26. This postponement is strategic, allowing Starpharma to generate robust preclinical data and optimize the asset’s commercial potential based on recent FDA feedback.

CEO Cheryl Maley highlighted the company’s focus on refining clinical pathways and strengthening preclinical evidence, particularly within its radiotheranostics program. This program aims to develop enhanced HER2-targeted assets, with preclinical data serving as a foundation for future partnerships and licensing opportunities.

Partnerships and Collaborative Momentum

Marking one year since the formation of Petalion Therapeutics in partnership with Medicxi, Starpharma reports significant progress in this collaboration. Petalion’s CEO, Dr Mehdi Shahidi, praised Starpharma’s expertise and agility in advancing dendrimer conjugates for oncology applications. This partnership has not only generated research revenue but also remains a central focus for Starpharma’s discovery team.

In addition, Starpharma has launched the Star Navigator program, designed to facilitate access to its dendrimer technology for research institutions and companies in early discovery phases. This initiative aims to convert exploratory engagements into deeper collaborations, platform licenses, or co-development projects, thereby broadening Starpharma’s partnership ecosystem.

Commercial Expansion and Marketing Initiatives

On the commercial front, Starpharma has expanded the reach of its marketed products. VivaGel® BV was launched in Saudi Arabia and the United Arab Emirates through its distribution partner ITROM Pharmaceutical Group, with regulatory progress ongoing for other territories. Meanwhile, Viraleze™ has seen a fresh advertising push in the UK, including a billboard campaign across London’s underground network, marking a strategic effort to boost brand awareness and online sales.

Starpharma also secured its first Viraleze™ orders for Saudi Arabia via its distributor Etqan & Nazahah LLC, signaling growing traction in the Gulf Cooperation Council region. The company plans to replicate its online presence strategy for VivaGel® BV in Europe and the UK in FY26, aiming to build brand recognition ahead of broader distribution deals.

Financial Position and Operational Efficiency

Financially, Starpharma ended the quarter with a cash balance of $17.2 million, reflecting a reduction in operating cash outflows to $2.7 million from $5.7 million in the prior corresponding quarter. Customer receipts increased to $1.4 million, driven by product sales and research and development service fees. The company continues to manage costs prudently through prioritization, resource management, and cost-saving measures, including leveraging outsourcing, automation, and AI technologies to enhance drug development efficiency.

Starpharma’s board reaffirmed its strategic priorities during a recent meeting, emphasizing maximization of DEP® asset value, acceleration of early asset development, focus on radiopharmaceuticals, and building long-term sustainability. These pillars guide the company’s efforts to restore and enhance shareholder value amid a challenging biotech sector environment.