Biota Appoints Piper Jaffray as Financial Advisor
March 28 2011 - 8:00AM
Business Wire
Biota Holdings Limited (ASX:BTA) has appointed Piper Jaffray
& Co as its lead financial advisor to assist the Company
by:
- Working with the Board and Management
to further develop plans to maximise value from the Company’s
programs; and
- Identifying the appropriate path for
Biota to achieve superior returns from the Company’s research and
development programs including, in particular, the potential to
pursue the direct commercialisation of the second generation
influenza antiviral, laninamivir, in the United States and other
markets.
Biota has indicated its intention to obtain maximum shareholder
value from its most advanced development compound laninamivir, a
second generation neuraminidase inhibitor and influenza antiviral.
The compound was recently successfully launched in Japan as
‘Inavir’ by Biota’s commercial partner, Daiichi Sankyo.
To achieve that goal, Biota is investigating a number of options
to complete the development and potential commercialisation of the
product in western markets, including:
- Securing non-dilutive agency
funds;
- Raising funds from international
capital markets; and/or
- Investigating merger or acquisition
structures.
Piper Jaffray will advise Biota in all financial and strategic
aspects to achieve timely completion of that goal. Piper Jaffray is
a leading United States based middle market investment bank serving
clients both in the United States and internationally.
About Biota
Biota is a leading anti-infective drug development company based
in Melbourne Australia, with key expertise in respiratory diseases,
particularly influenza. Biota developed the first-in-class
neuraminidase inhibitor, zanamivir, subsequently marketed by
GlaxoSmithKline as Relenza. Biota research breakthroughs include a
series of candidate drugs aimed at treatment of respiratory
syncytial virus (RSV) disease and Hepatitis C (HCV) virus
infections. Biota has clinical trials underway with its lead
compound for human rhinovirus (HRV) infection in patients with
compromised respiration or immune systems.
In addition, Biota and Daiichi Sankyo co-own a range of second
generation influenza antivirals, of which the lead product lnavir®,
is approved for marketing in Japan.
Relenza™ is a registered trademark of the GlaxoSmithKline group
of companies.
Inavir® is registered to Daiichi Sankyo.
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