Australia's Citrofresh trading halted after share surgeSep 27,...

Australia's Citrofresh trading halted after share surge

Sep 27, 2005 — SYDNEY (Reuters) - A naturally occurring chemical extracted from oranges could be used to treat HIV/AIDS, influenza, SARS and the common cold, according to Australian anti-virus treatment developer, Citrofresh International Ltd..

Citrofresh said Europe's Retroscreen Virology Laboratory had found its Citrofresh bioflavanoid compound to be effective against the HIV-1 virus, the human influenza A virus including Avian influenza or bird flu, the Urbani SARS virus and the human rhinovirus.

Shares in Citrofresh, with a market value of A$20 million, more than tripled to A$0.70, prompting a trading halt in its shares as it prepared more information, expected to be released before the market opens on Thursday.


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Bioflavonoids are a group of chemical compounds naturally found in certain fruits, vegetables, teas, wines, nuts, seeds, and roots with anti-oxidant and anti-inflammatory properties. However, they are usually derived from citrus fruit rinds.

"Retroscreen Virology confirmed that Citrofresh exhibits significant viridical activity against all four viruses tested," the company said in a statement to the Australian Stock Exchange.

Citrofresh, which sells anti-bacterial products for the food industry, provided no details of the results of tests it commissioned from Retroscreen Virology, which Citrofresh described as Europe's leading contract virology research company. It also did not say whether the results had been independently verified or whether they would be published.

Shares in Citrofresh, which could not be contacted, were off their highs at A$0.535, valuing the company at A$20 million, when the trading halt was imposed, still more than double its A$0.21 close on Monday.


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