8 February 2005The ManagerCompany AnnouncementsAustralian Stock...

8 February 2005
The Manager
Company Announcements
Australian Stock Exchange Limited
Level 4, 20 Bridge Street
SYDNEY NSW 2000
By e-lodgement
Dear Sir,
We enclose a copy of an ASX / Media Announcement titled “PolyNovo to undertake feasibility studies with the Burns Unit at Royal Adelaide Hospital.”
Yours sincerely
DAVID McAULIFFE
Chief Executive Officer
abn: 79 009 181 006
8 February 2005
ASX / MEDIA RELEASE
PolyNovo to undertake feasibility studies with the
Burns Unit at Royal Adelaide Hospital
Xceed Biotechnology Ltd (“Xceed”) is pleased to advise that its major investee company, PolyNovo Biomaterials Pty Ltd (“PolyNovo”), has aligned itself with the Burns Unit at Royal Adelaide Hospital to investigate the feasibility of utilising NovoSorb, its biodegradable polymer technology, in conjunction with the Burns Unit cell biology for the treatment of burns.
Dr Ian Griffiths, Chief Executive Officer of PolyNovo stated “ We are hopeful that NovoSorb will provide advantages over the existing materials used for tissue scaffolds in the treatment of burns.”
PolyNovo will be working closely with Mr John Greenwood AM and his team. Mr Greenwood is currently the Director of the Burns Unit at the Royal Adelaide Hospital and played a key role in providing life saving operations on the burns victims following the 2002 Bali attack.
Mr Greenwood stated “The challenge facing clinicians and scientists in replacing lost skin is recreation of the supple, elastic and robust dermis. This is an architectural structure which needs the clinician to recruit the help of engineers. This alliance brings together specialists from different fields approaching the problem of dermal generation from different directions. I am extremely excited at this prospect."
-ENDS-
For further information:
David McAuliffe Dr Ian Griffiths
Chief Executive Officer Chief Executive Officer
Xceed Biotechnology Limited PolyNovo Biomaterials Pty Ltd
Tel: (08) 9278 1866 Tel: (03) 9545 2527
abn: 79 009 181 006
About Xceed Biotechnology Ltd (www.xceedbiotech.com)
Xceed Biotechnology Ltd (Xceed) is a biotechnology investment company that made its debut on the Australian Stock Exchange (ASX:XBL) on 19 May 2004. Xceed will focus on investment in revenue producing and research-based leading-edge patentable technologies. Xceed currently has two core assets in its portfolio, 50% of PolyNovo Biomaterials Pty Ltd (PolyNovo) and 100% of Boron Molecular Pty Ltd (Boron), with the core technologies of each company having been developed by CSIRO.
Broadly, Xceed will initially focus on:
- the development and commercialisation of PolyNovo’s novel polymers; and
- increasing the sales of Boron’s range of products and collaborative partners.
PolyNovo Biomaterials Pty Ltd (www.polynovo.com)
PolyNovo Biomaterials Pty Ltd (PolyNovo) was established in May 2004 by CSIRO and Xceed Biotechnology Ltd, which each own 50 percent of the Company.
It is focused on developing a range of biocompatible and biodegradable polymers that can be formulated as an injectable gel which cures in-situ or on demand, promotes tissue growth and controls the rate of degradation.
PolyNovo's technology is based on novel, patentable chemistry developed within the CSIRO’s Division of Molecular Science and licensed to the company under a worldwide exclusive royalty free license.
The polymer technology could be tailored for applications in orthopaedics, stents, drug delivery, wound care, orthodontics, tissue engineering and cartilage repair.
abn: 79 009 181 006