ferret's stock to watch: solbec pharmaceutical

Ferret's Stock to Watch: SOLBEC PHARMACEUTICALS LIMITED
07:28, Wednesday, 24 November 2004


BIOTECH COMPANY'S GREAT RESULT ON CANCER RESEARCH PROGRAM

Sydney - Wednesday - November 24: (RWE Australian Business News)
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OVERVIEW
*********

Shares of SOLBEC Pharmaceuticals Ltd shot up solidly yesterday
as investors read the signs of success to date in the company's cancer
drug.

According to the company it has induced total remission of
mesothelioma in mice.

Solbec's lead compound CoramsineTM brought about total remission
of malignant mesothelioma in mice when combined with immunotherapy.

It cured animals resistant to re-induction of the cancer.

Solbec told the Australian Stock Exchange yesterday that its
cancer drug, CoramsineTM, is effective in both treating, and from
preliminary results, preventing, mesothelioma in a mouse model of the
cancer.

Treatment with Coramsine in combination with the immune
triggering compound, CpG, gave total remission of the mesothelioma.

This was a much greater response than that seen with either
agent on its own.

The combination therapy was used to maximize the immunological
effect of Coramsine.

The Coramsine - CpG combination therapy potentially has the added
effect of stimulating lasting immunity against the cancer as attempts to
cause tumour formation in a treated, 'cured'
mouse failed.

The aim of the study, which confirms and extends earlier findings
conducted by Solbec, was to learn how Coramsine primes the immune system
and whether it could bring about long term remission
of mesothelioma.

Further research will set out to confirm these findings.

The study was conducted by the Tumour Immunology Group at the
University of Western Australia.

"If this finding is replicated in patients with mesothelioma or
other cancers, we believe that Coramsine could play an important role in
clinical management of malignancy," said Solbec's Professor John
Papadimitriou.

Coramsine has previously been shown to satisfy the three main
criteria for immunological activity in destroying mesothelioma tissue,
increasing the antigens from the tumour (which are recognized by the
immune system) and maintaining high levels of immune cells.

"The results go a long way toward confirming that Coramsine
causes an immune response to cancer.

"The proof will come by trialling combination therapy in humans,"
said Stephen Carter, Solbec's managing director.

Mesothelioma is malignant growth arising from cells lining the
patient's body cavities such as chest, abdominal region or the tissue
surrounding the heart.

It is typically associated with exposure to asbestos, which has
been documented in as many as 70-80 per cent of all mesothelioma
cases.

The study formed part of a program, funded by Solbec with support
from the Australian Government's Biotechnology Innovation Fund.

Coramsinecontains two compounds extracted from a plant known as
the Devil's Apple and is undergoing parallel development for the
treatment of psoriasis and cancers such as mesothelioma
and melanoma.

It acts by binding to a receptor on cancer cells and causing
death of the cells.

"Our research suggests that the action and mechanism of
CoramsineTM are unique.

It is presumed to act on psoriasis skin lesions by inhibiting a
cytokine, interleukin-6, associated with inflammation.

The term "CpG" refers to two bases normally found in DNA,
cytosine and guanine, with phosphate in between.

It has been shown that inclusion of the CpG sequence in a small
piece of synthetic DNA stimulates the immune response.

Such sequences are normally found in bacteria lDNA.


SHARE PRICE MOVEMENTS
*********************

Solbec shares yesterday jumped 8.5c to 21c and touched the year
high of 24c. Low for the same period was 11c. More than 29.8 million
changed hands in a wild scramble.

Last month Solbec disclosed it had been invited to be present at
the Techvest 6th Annual Healthcare Conference in New York.

The highly regarded Techvest conference was organized by New York
investment bankers Rodman & Renshaw Inc.

It brought together institutional investors, venture capitalists,
scientists and pharma / biotechnology corporate executives.

Solbec presented its lead compound Coramsine(SBP002).

The company targeted US companies in its partnering program and
CEO, Stephen Carter, represented the company at Techvest.

He said the Techvest conference was one aspect of Solbec's US
program.

Mr Carter talked to various investors and had also been asked to
schedule meetings at the Mesothelioma Applied Research Foundation's
International Symposium.

Solbec is a Biotechnology drug development company committed to
the development and comercialisation of better therapies for life
threatening and debilitating diseases.

The current focus of Solbec is on the treatment of cancer, in
particular melanoma and malignant mesothelioma.

"We are also focused on the treatment of the inflammatory dermal
disorder psoriasis.

"These projects are based on our platform glycoalkaloid
technology.

"This technology has been proved by the company to be an
effective anti tumour agent and has potential anti-inflammatory activity.

"Our research supports an unique and previously unknown mode of
action for the drug, CEO Stephen declared.


BACKGROUND
**********

Solbec Pharmaceuticals Limited was listed on the Australian
Stock Exchange on January 20, 1994.

It is a dedicated drug development company, working to
commercialise its flagship product, anti-cancer therapy SBP002, as well
as evolving a development pipeline of other products.

Solbec had its genesis in the pioneering work conducted at the
University of Queensland where extensive pre-clinical trials showing the
efficacy of selected extracts of solanum plants in treating both human
and animal cancers were carried out.

In March 2000, Solbec acquired the license to the intellectual
property.

Since then the company has significantly advanced the research
and development process, deriving the patented SBP002 formulation and
conducting extensive pre-clinical testing.

Solbec has made considerable progress toward achieving Orphan
Drug status for SBP002 with the objective of reducing clinical
development time.

And in parallel with this process, the company has begun the
commercial cultivation of Solanum linnaeanum plants in order to provide
the active ingredients of SBP002 - solasonine and solamargine.

The value of Solbec's work has already been recognised by the
Federal Government of Australia.

In 2003, the Biotechnology Innovation Fund awarded Solbec funding
towards the costs of further research.

Studies already conducted on Special Access Scheme patients have
provided extremely encouraging evidence that SBP002 has the potential to
become a highly effective, non-invasive, anti-cancer therapy, using
naturally-occurring agents to treat a wide range of cancers without
significant side-effects.

ENDS

Copyright © 2004 RWE Australian Business News. All rights reserved.

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