German giant Boehringer Ingelheim to invest US$181m in Australian biotech. Picture Getty
Health & Biotech
Australia’s biotech industry is going from strength to strength as global pharmas increasingly look to our shores for the next big deal.
In the latest announcement, German pharmaceutical giant Boehringer Ingelheim is heading here to partner with unlisted Melbourne-based Kinoxis Therapeutics to develop therapies for psychiatric disorders.
Boehringer is said to be investing as much as US$181m to collaborate with Kinoxis to develop a drug that could treat substance-use disorders and social dysfunction in neurological and psychiatric patients.
Kinoxis Therapeutics is a University of Sydney spinout that’s been studying small molecule oxytocin-targeting psychiatry treatments using compounds developed by a team led by Professor Michael Kassiou.
The company says Boehringer will use the chemical compounds developed by Kinoxis as a starting point to collaboratively develop treatments for these neuropsychiatric conditions.
Professor Kassiou said there are more than 3 million Australians who suffer from illnesses that impair social functioning.
“The oxytocin receptors in the brain have emerged as an attractive drug target, but they have been intractable with small molecules,” he said.
Kassiou said it’s been 10 years since his team began investigating the chemistry and pharmacology relating to the oxytocin receptor.
“We have discovered several series of small molecules, now licensed to Kinoxis, that have allowed us to target the oxytocin receptor in ways not previously possible.”
Oxytocin is a neuropeptide – a chemical produced naturally in the brain that plays a critical role in the regulation of social behaviour.
There is growing scientific evidence to suggest that targeting oxytocin could have benefit in treating a range of psychiatric disorders.
Boehringer’s partnership is just one example of the attractiveness of the Australian biotech industry to big pharma.
The most successful Aussie biotechs over the past few years include unlisted pain killer developer Spinifex, which was acquired by Novartis in 2015. Fibrosis drug developer Fibrotech was also snapped up in 2014 by Shire, now part of Japanese giant Takeda.
Boehringer’s deal also highlights the intense M&A activity in the sector as big pharma spent more than US$87 billion worldwide to acquire biotechs during the first half of this year.
| CODE | COMPANY | PRICE | 1 WEEK RETURN % | 1 MONTH RETURN % | 6 MONTH RETURN % | 1 YEAR RETURN % | MARKET CAP |
|---|---|---|---|---|---|---|---|
| BP8 | Bph Global Ltd | 0.00 | 50.00 | 0.00 | -77.22 | -77.22 | $4,004,189 |
| MVP | Medical Developments | 1.43 | 41.09 | 91.28 | -14.67 | -20.87 | $128,594,711 |
| PAB | Patrys Limited | 0.01 | 33.33 | 14.29 | -60.00 | -47.83 | $24,687,221 |
| ONE | Oneview Healthcare | 0.22 | 29.41 | -13.73 | 100.00 | 62.96 | $114,695,442 |
| TSN | The Sust Nutri Grp | 0.01 | 25.00 | 42.86 | -50.00 | -92.86 | $1,407,629 |
| EPN | Epsilon Healthcare | 0.03 | 22.73 | 35.00 | 12.50 | -18.18 | $8,409,912 |
| S66 | Star Combo | 0.11 | 22.22 | 0.00 | -29.03 | -29.03 | $14,859,128 |
| CMP | Compumedics Limited | 0.20 | 21.88 | 2.63 | 0.00 | -2.50 | $32,775,145 |
| NEU | Neuren Pharmaceut. | 13.45 | 19.34 | 7.26 | 50.45 | 243.11 | $1,689,651,775 |
| BXN | Bioxyne Ltd | 0.02 | 18.75 | -17.39 | -26.92 | 26.67 | $38,032,908 |
| ZLD | Zelira Therapeutics | 1.81 | 18.30 | 13.13 | 69.95 | -48.58 | $18,495,863 |
| ICR | Intelicare Holdings | 0.01 | 18.18 | 8.33 | -40.91 | -67.09 | $2,715,900 |
| CU6 | Clarity Pharma | 0.90 | 17.65 | 13.92 | 1.69 | 50.00 | $162,058,126 |
| NTI | Neurotech Intl | 0.05 | 17.39 | 42.11 | -22.86 | -27.03 | $47,191,112 |
| BIT | Biotron Limited | 0.03 | 17.24 | 30.77 | 6.25 | -45.15 | $28,862,237 |
| PSQ | Pacific Smiles Grp | 1.55 | 15.67 | 16.54 | 1.97 | -10.66 | $247,352,004 |
| PNV | Polynovo Limited | 1.61 | 15.23 | 6.81 | -33.57 | 10.86 | $1,125,079,384 |
| OCC | Orthocell Limited | 0.39 | 14.93 | 6.94 | -7.23 | -2.53 | $77,934,713 |
| IVX | Invion Ltd | 0.01 | 14.29 | 33.33 | -11.11 | -27.27 | $51,373,058 |
| ME1 | Melodiol Glb Health | 0.01 | 14.29 | 14.29 | -60.00 | -81.82 | $24,196,984 |
| RAC | Race Oncology Ltd | 1.49 | 14.23 | 0.68 | -27.56 | -33.11 | $244,603,170 |
| LDX | Lumos Diagnostics | 0.08 | 13.70 | 591.67 | 107.50 | 45.61 | $31,475,846 |
| UBI | Universal Biosensors | 0.25 | 13.64 | 19.05 | -16.67 | -29.58 | $49,906,817 |
| TLX | Telix Pharmaceutical | 11.98 | 12.81 | 5.00 | 84.02 | 103.05 | $3,736,675,933 |
| NYR | Nyrada Inc. | 0.04 | 12.12 | -53.16 | -75.33 | -78.24 | $5,772,322 |
| SHG | Singular Health | 0.04 | 10.81 | -14.58 | -62.73 | -56.84 | $5,495,539 |
| GSS | Genetic Signatures | 0.60 | 10.19 | 14.42 | -33.89 | -40.50 | $85,326,568 |
| CYC | Cyclopharm Limited | 2.33 | 9.91 | 20.10 | 54.82 | 47.94 | $213,855,623 |
| NSB | Neuroscientific | 0.12 | 9.52 | 41.98 | 19.79 | -42.50 | $16,499,239 |
| RHT | Resonance Health | 0.05 | 8.89 | 32.43 | -15.52 | -27.94 | $22,581,747 |
| GLH | Global Health Ltd | 0.15 | 7.41 | 11.54 | -27.50 | -51.67 | $7,836,687 |
| IMU | Imugene Limited | 0.09 | 6.82 | -2.08 | -41.25 | -62.40 | $629,457,833 |
| MEM | Memphasys Ltd | 0.02 | 6.67 | -5.88 | 0.00 | -57.00 | $14,392,806 |
| M7T | Mach7 Tech Limited | 0.92 | 5.78 | 67.89 | 23.65 | 39.69 | $220,808,631 |
| ALC | Alcidion Group Ltd | 0.10 | 5.26 | 0.00 | -33.33 | -25.93 | $133,147,251 |
| VHT | Volpara Health Tech | 0.94 | 5.06 | 27.21 | 32.62 | 79.81 | $242,912,184 |
| RCE | Recce Pharmaceutical | 0.65 | 4.84 | 18.18 | -0.76 | -17.20 | $114,082,758 |
| HGV | Hygrovest Limited | 0.04 | 4.76 | -13.73 | -37.14 | -30.16 | $9,043,356 |
| DOC | Doctor Care Anywhere | 0.05 | 4.55 | -11.54 | -19.30 | -73.71 | $16,498,901 |
| ACR | Acrux Limited | 0.05 | 4.17 | 8.70 | -26.47 | -10.71 | $14,408,773 |
| DXB | Dimerix Ltd | 0.08 | 4.11 | 31.03 | -48.44 | -44.75 | $29,104,428 |
| IMM | Immutep Ltd | 0.32 | 4.03 | 7.50 | 7.40 | 0.79 | $379,937,987 |
| CAN | Cann Group Ltd | 0.13 | 4.00 | 4.84 | -37.60 | -57.03 | $52,399,557 |
| PXS | Pharmaxis Ltd | 0.05 | 3.85 | 8.00 | -12.90 | -25.00 | $38,861,581 |
| OPT | Opthea Limited | 0.58 | 3.57 | 3.57 | -34.83 | -49.12 | $277,959,863 |
| PIQ | Proteomics Int Lab | 0.90 | 3.45 | 1.12 | -18.18 | 5.88 | $105,949,131 |
| IDT | IDT Australia Ltd | 0.07 | 2.94 | 9.38 | -12.50 | -57.58 | $20,102,504 |
| IPD | Impedimed Limited | 0.18 | 2.86 | 16.13 | 150.00 | 221.43 | $363,380,680 |
| MVF | Monash IVF Group Ltd | 1.17 | 2.64 | 1.30 | 14.78 | 12.02 | $467,561,808 |
| IMC | Immuron Limited | 0.08 | 2.56 | 3.90 | 1.27 | -12.09 | $17,996,069 |
| PAA | Pharmaust Limited | 0.08 | 2.50 | 9.33 | -2.38 | -6.82 | $27,901,995 |
| ATX | Amplia Therapeutics | 0.08 | 2.44 | 3.70 | -2.33 | -16.00 | $16,296,486 |
| SDI | SDI Limited | 0.84 | 2.44 | 2.44 | -8.70 | -1.18 | $98,658,390 |
| IHL | Incannex Healthcare | 0.11 | 2.27 | 2.27 | -40.79 | -43.75 | $182,506,191 |
| ARX | Aroa Biosurgery | 0.90 | 1.99 | -0.28 | -23.94 | 22.95 | $308,798,521 |
| RNO | Rhinomed Ltd | 0.06 | 1.67 | -12.86 | -44.55 | -56.43 | $17,428,901 |
| PYC | PYC Therapeutics | 0.07 | 1.54 | 20.00 | 6.45 | 3.13 | $246,369,231 |
| PBP | Probiotec Limited | 2.72 | 1.12 | 2.26 | 24.77 | 18.78 | $220,386,430 |
| HXL | Hexima | 0.02 | 0.00 | 20.00 | 26.32 | 118.18 | $4,008,951 |
| 1ST | 1St Group Ltd | 0.01 | 0.00 | 20.00 | -33.33 | -25.00 | $7,084,956 |
| JTL | Jayex Technology Ltd | 0.01 | 0.00 | 11.11 | 0.00 | 100.00 | $2,812,785 |
| BPH | BPH Energy Ltd | 0.02 | 0.00 | 10.53 | 16.67 | 78.30 | $18,604,710 |
| CTE | Cryosite Limited | 0.65 | 0.00 | 3.17 | -13.33 | 4.84 | $31,726,216 |
| ALT | Analytica Limited | 0.00 | 0.00 | 0.00 | -50.00 | -33.33 | $4,613,801 |
| MEB | Medibio Limited | 0.00 | 0.00 | 0.00 | 0.00 | -50.00 | $5,150,594 |
| AHC | Austco Healthcare | 0.18 | 0.00 | 0.00 | 45.83 | 34.62 | $50,888,279 |
| AC8 | Auscann Grp Hlgs Ltd | 0.04 | 0.00 | 0.00 | 0.00 | -14.89 | $17,621,884 |
| BWX | BWX Limited | 0.20 | 0.00 | 0.00 | -20.00 | -72.60 | $39,997,500 |
| OVN | Oventus Medical Ltd | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 | $4,834,531 |
| MDC | Medlab Clinical Ltd | 6.60 | 0.00 | 0.00 | -15.60 | -44.30 | $15,071,113 |
| ATH | Alterity Therap Ltd | 0.01 | 0.00 | 0.00 | -45.45 | -64.71 | $17,079,283 |
| OSL | Oncosil Medical | 0.01 | 0.00 | 0.00 | -66.43 | -74.97 | $25,685,935 |
| PTX | Prescient Ltd | 0.08 | 0.00 | -3.61 | -38.46 | -56.76 | $64,421,583 |
| VTI | Vision Tech Inc | 0.27 | 0.00 | -5.26 | -28.00 | -10.74 | $7,136,374 |
| ADO | Anteotech Ltd | 0.04 | 0.00 | -6.67 | -23.64 | -40.85 | $88,147,357 |
| EXL | Elixinol Wellness | 0.01 | 0.00 | -6.67 | -39.13 | -65.85 | $5,940,888 |
| ZNO | Zoono Group Ltd | 0.04 | 0.00 | -6.82 | -56.35 | -73.25 | $7,787,035 |
| TRU | Truscreen | 0.03 | 0.00 | -10.34 | -33.33 | -46.94 | $10,832,692 |
| CAJ | Capitol Health | 0.26 | 0.00 | -12.07 | -20.31 | -10.53 | $276,515,860 |
| RSH | Respiri Limited | 0.03 | 0.00 | -13.16 | -36.54 | -35.29 | $28,382,849 |
| ADR | Adherium Ltd | 0.00 | 0.00 | -14.29 | -25.00 | -66.67 | $14,998,225 |
| AVE | Avecho Biotech Ltd | 0.01 | 0.00 | -16.67 | -66.67 | -58.33 | $10,810,818 |
| KZA | Kazia Therapeutics | 0.14 | 0.00 | -17.65 | 21.74 | -75.00 | $33,086,812 |
| AMT | Allegra Orthopaedics | 0.06 | 0.00 | -20.29 | -29.49 | -69.44 | $5,745,256 |
| ACW | Actinogen Medical | 0.04 | 0.00 | -21.74 | -60.87 | -35.71 | $69,017,582 |
| NOX | Noxopharm Limited | 0.04 | 0.00 | -40.00 | -74.29 | -84.00 | $10,520,566 |
| PAR | Paradigm Bio. | 0.96 | -1.03 | 4.35 | -30.43 | -6.12 | $272,387,331 |
| CBL | Control Bionics | 0.09 | -1.16 | -9.57 | -48.48 | -55.26 | $7,690,717 |
| PGC | Paragon Care Limited | 0.25 | -1.96 | 6.38 | -16.67 | -7.41 | $171,429,942 |
| ALA | Arovella Therapeutic | 0.05 | -2.04 | 6.67 | 100.00 | 118.18 | $42,260,036 |
| 4DX | 4Dmedical Limited | 0.69 | -2.13 | -8.00 | 56.82 | 40.82 | $234,690,149 |
| VBS | Vectus Biosystems | 0.43 | -2.27 | -14.00 | -45.57 | -57.00 | $22,871,493 |
| CGS | Cogstate Ltd | 1.48 | -2.32 | -19.62 | -25.88 | -9.51 | $273,634,112 |
| OSX | Osteopore Limited | 0.08 | -2.38 | -36.92 | -36.22 | -53.93 | $12,238,572 |
| CDX | Cardiex Limited | 0.17 | -2.94 | -13.16 | -57.14 | -54.79 | $23,671,811 |
| BOT | Botanix Pharma Ltd | 0.14 | -3.45 | 27.27 | 137.29 | 97.18 | $190,609,277 |
| CYP | Cynata Therapeutics | 0.13 | -3.70 | -7.14 | -57.38 | -66.23 | $23,352,132 |
| IIQ | Inoviq Ltd | 0.85 | -3.98 | 64.08 | 30.00 | 43.22 | $82,816,832 |
| AGH | Althea Group | 0.05 | -4.26 | -2.17 | -30.77 | -68.97 | $17,157,986 |
| MDR | Medadvisor Limited | 0.23 | -4.26 | -4.26 | -11.76 | 60.71 | $125,340,664 |
| MX1 | Micro-X Limited | 0.11 | -4.55 | -16.00 | -22.22 | -30.00 | $54,224,624 |
| CHM | Chimeric Therapeutic | 0.04 | -4.76 | 8.11 | -51.81 | -68.00 | $21,705,521 |
| TRP | Tissue Repair | 0.30 | -4.76 | 3.45 | 5.26 | 0.00 | $14,034,107 |
| ILA | Island Pharma | 0.10 | -5.71 | -23.85 | -45.00 | -34.00 | $8,533,189 |
| VLS | Vita Life Sciences.. | 1.48 | -5.75 | -15.47 | 1.72 | -25.13 | $79,583,053 |
| LCT | Living Cell Tech. | 0.02 | -6.25 | 15.38 | 26.56 | 89.84 | $24,527,185 |
| SOM | SomnoMed Limited | 0.93 | -6.57 | -3.65 | -29.66 | -21.61 | $86,069,688 |
| NXS | Next Science Limited | 0.53 | -7.02 | -1.85 | -24.29 | -30.72 | $113,838,771 |
| PCK | Painchek Ltd | 0.03 | -7.14 | 0.00 | -18.75 | -7.14 | $33,747,728 |
| OIL | Optiscan Imaging | 0.08 | -7.95 | 3.85 | -38.77 | -16.50 | $59,625,263 |
| RAD | Radiopharm | 0.11 | -8.33 | -15.38 | -15.38 | -41.65 | $26,324,434 |
| RAD | Radiopharm | 0.11 | -8.33 | -15.38 | -15.38 | -41.65 | $26,324,434 |
| BNO | Bionomics Limited | 0.02 | -8.70 | 5.00 | -25.00 | -64.10 | $30,843,444 |
| EYE | Nova EYE Medical Ltd | 0.25 | -9.26 | -9.26 | -19.67 | 16.67 | $46,630,334 |
| RHY | Rhythm Biosciences | 0.47 | -9.62 | -3.09 | -52.04 | -63.85 | $103,302,517 |
| LBT | LBT Innovations | 0.03 | -10.34 | -18.75 | -62.86 | -69.41 | $8,990,688 |
| IBX | Imagion Biosys Ltd | 0.02 | -10.53 | 41.67 | -22.73 | -56.41 | $21,820,254 |
| EZZ | EZZ Life Science | 0.50 | -10.71 | -5.66 | 38.89 | 72.41 | $21,352,500 |
| AN1 | Anagenics Limited | 0.01 | -12.50 | -22.22 | -47.66 | -57.17 | $5,118,680 |
| BDX | Bcaldiagnostics | 0.07 | -13.58 | -23.91 | 16.67 | -24.73 | $9,526,630 |
| HCT | Holista CollTech Ltd | 0.01 | -15.38 | -26.67 | -54.17 | -73.17 | $3,066,801 |
| RGS | Regeneus Ltd | 0.01 | -16.67 | 66.67 | -75.61 | -81.82 | $3,064,369 |
| DVL | Dorsavi Ltd | 0.01 | -17.65 | -6.67 | 16.67 | 29.26 | $7,793,263 |
| AHK | Ark Mines Limited | 0.30 | -18.06 | -3.28 | 47.50 | 73.53 | $12,459,637 |
| GTG | Genetic Technologies | 0.00 | -20.00 | 0.00 | -33.33 | -50.00 | $28,854,145 |
| ANP | Antisense Therapeut. | 0.06 | -20.29 | -21.43 | -40.22 | -31.25 | $43,505,445 |
| NC6 | Nanollose Limited | 0.06 | -21.92 | 9.62 | -5.00 | -22.97 | $8,486,523 |
| 1AD | Adalta Limited | 0.02 | -22.58 | 4.35 | -38.46 | -51.02 | $11,038,157 |
| IRX | Inhalerx Limited | 0.04 | -25.53 | -10.26 | -36.36 | -50.00 | $6,641,843 |
| TD1 | Tali Digital Limited | 0.00 | -33.33 | -50.00 | -75.00 | -80.00 | $3,295,156 |
| AT1 | Atomo Diagnostics | 0.03 | -34.62 | 25.93 | -39.29 | -46.03 | $19,410,294 |
| MXC | Mgc Pharmaceuticals | 0.00 | -40.00 | -50.00 | -70.00 | -85.71 | $11,677,079 |
The best healthcare performer over the past week was BPH Global, which announced the appointment of Gaia Mariculture as the manager of the company’s research and development facility in Singapore.
Gaia Mariculture is a bio solution provider in marine aquaculture with headquarters in Singapore. The company is a subsidiary of Preco, a Norwegian private investment company.
Gaia is expected to spearhead BPH’s focus on achieving the cultivation, harvesting and processing of seaweed on a commercial basis.
BPH is currently building a mass-cultivation aquaculture capability in Singapore, with an integrated manufacturing capacity to develop extraction of plant stem cells for the health, beauty and anti-aging markets.
The medical device company focusing on sleep technologies said its sales orders for FY23 were a record $43m, a 4% increase compared to the pcp.
The company reported unaudited revenues for the full year of approximately $41 million, an 11% increase on FY22.
EBITDA is expected to be in line with guidance provided in February, which was $2m on an underlying basis for FY23.
Cash for 30 June stood at about $3.6m, and debt about $7m.
Market darling Neuren Pharma surged after announcing an expansion of its global partnership with US partner Acadia for trofinetide (sold under the brand DAYBUE in the US).
Under the new agreement, Acadia’s (NASDAQ:ACAD) exclusive licence for trofinetide in North America has now been expanded to a worldwide exclusive licence.
The company says this won’t change existing milestone payments and royalties payable to Neuren for trofinetide in North America where Neuren is set to receive US$100 million up-front, plus additional potential milestone payments of up to US$427 million on sales of trofinetide outside North America.
In the meantime, Acadia has provided very encouraging early insights into the US launch of DAYBUE, expecting net sales of US$21-23 million in Q2 2023 and US$45-55 million in Q3 2023.
The health and wellness cannabis-based company announced the first sales of its trademarked Dr Watson mushroom nootropics on Amazon US.
Dr Watson’s mushroom nootropics are formulated with vitamins and minerals to “enhance cognitive function, focus, memory, as well supporting energy levels”, and are a popular replacement for coffee.
The company is also making good progress in Japan, where it is both a manufacturer of CBD based products and a supplier of CBD isolates as active ingredients to the wellness industry.
The growth of Dr Watson branded products on Amazon Japan has positioned Bioxyne with an important presence on the largest e-commerce platform in the world adding to its existing UK, Germany, France and US e-commerce markets.
In Australia, Bioxyne is expecting to go live on Amazon in H2 this year as it awaits TGA Pharmaceutical GMP inspection in September to enable it to scale production facilities.
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