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Drug test deal as Narhex joins ASX
Teresa Ooi
January 12, 2005

NARHEX Life Science - a biotech due to list on the stock exchange today - has signed a drug-testing deal with a US medical research centre.

The US National Institute of Allergy and Infectious Diseases will examine whether a Narhex drug that is being tested for the treatment of HIV/AIDS can also be applied to Hepatitis C and the SARS virus.

The deal with the Institute, based in Bethesda, Maryland, comes hot on the heels of Narhex's initial public offering, which raised more than $8 million when it closed on January 4.

The funds will be used to fast-track clinical tests of the company's AIDS drug, Nar 35 DG Prodrug, particularly in China.

Narhex chief executive John Majewski said the deal with the institute was an important step to explore the broader application of the drug to other infectious diseases, especially Hepatitis C, for which there is no vaccine.









"Clearly this agreement opens up a drug pipeline of potential new products for the company," Mr Majewski said.

"The company's recent IPO ... gives us sufficient funding to complete our clinical studies in China and nurture other drugs for infectious diseases ..."

The company's Nar DG 35 Prodrug has undergone Phase 1 trials in Australia and early Phase 11 clinical trials in Brazil.

According to broking firm Intersuisse, the biotechnology sector gained very little over 2004, but is set to improve this year.

http://www.theaustralian.news.com.au/common/story_page/0,5744,11915524%5E643,00.html