Melbourne, Apr 24, 2008 (ABN Newswire) - Starpharma Holdings Ltd (ASX: SPL)(OTCQX: SPHRY) has been advised that all of the Company's shares held by ANZ pursuant to stock lending arrangements associated with the Opes Prime Group have now been sold in an orderly fashion.
The company understands that the majority of the shares were purchased on market by two existing institutional investors, with the balance of 678,334 shares taken up by Deputy Chairman Dr John Raff.
Starpharma CEO Dr Jackie Fairley said: "We are pleased to have this situation resolved promptly with no impact on the Company's operations, and it is particularly pleasing to see such strong support from existing investors. We look forward to continuing to build upon the recent successes which include announcements regarding HPV activity for VivaGel(R), the EMD Merck launch of Priostar(R) transfection reagent kit, and an agreement with Unilever."
About STARPHARMA HOLDINGS LIMITED
Starpharma Holdings Limited (ASX:SPL, OTCQX:SPHRY) is a world leader in the development of dendrimer nanotechnology for pharmaceutical, life-science and other applications. SPL is principally composed of two operating companies, Starpharma Pty Ltd in Melbourne, Australia and Dendritic Nanotechnologies, Inc in Michigan, USA. Products based on SPL's dendrimer technology are already on the market in the form of diagnostic elements and laboratory reagents.
The Company's lead pharmaceutical development product is VivaGel(R) (SPL7013 Gel), a vaginal microbicide designed to prevent the transmission of STIs, including HIV and genital herpes.
Contact
Dr Jackie Fairley Chief Executive Officer +61 3 8532 2704
Ben Rogers Company Secretary +61 3 8532 2702 ben.rogers@starpharma.com
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