Shares in the biotech group Virax Holdings Ltd closed nearly 20 per cent higher on Thursday after an HIV drug the company is developing was shown to help control the HIV level in patients.
Virax shares have tripled over the past four weeks as investors speculated on results from the VIR201 drug trial.
The findings were released at a medical conference in San Francisco when it was revealed that patients on the drug VIR201 had a viral load about six times lower than those on placebo.
"VIR201 is the first treatment of its kind in the world to show an ability to block the progression of this potentially deadly virus in HIV positive patients," the Australian National Centre for HIV Epidemiology and Clinical Research (NCHECR) director David Cooper said.
NCHECR is partnering Virax in conducting the drug trial.
"On the clinical evidence now available VIR201 is one of the most promising treatment vaccines currently under development and further trials are warranted," Professor Cooper told the international conference on retro-viruses and opportunistic infection.
"Controlling the level of virus is fundamental for the management of HIV.
"If we are able to keep the viral load low, patients will not develop AIDS and can live long and relatively healthy, normal lives."
VIR201 is a treatment vaccine that harnesses the power of the body's own immune system.
Add to My Watchlist
What is My Watchlist?
