SYDNEY, Oct 7 AAP - Shares in pSivida Ltd shot up nearly 24 per...

SYDNEY, Oct 7 AAP - Shares in pSivida Ltd shot up nearly 24 per
cent today after the biotech company announced that a human trial
of its injectable cancer treatment had shown the method to be safe
and effective at killing tumours.
PSivida has been testing the safety of its new therapy called
BrachySil, which involves injecting radioactive drugs directly into
tumours without surgery - a technique known as brachytherapy.
PSivida said existing methods of brachytherapy were expensive
and could lead to leakage of radiotherapy into surrounding healthy
tissue.
But a pSivida trial of BrachySil on four patients with incurable
liver cancer showed a reduction in tumour size by up to 60 per cent
after three months of treatment.
It also showed that the pSivida therapy had little to no
leakage.
The trial was conducted at Singapore General Hospital, with the
trial to be completed on another four patients by early 2005.
By 1503 AEST, pSivida shares were 25 cents higher at $1.31.
PSivida managing director Gavin Rezos said the trial had exceed
his expectations.
"The ability of BrachySil to retain and localise radioactivity
at the injection site is excellent news," Mr Rezos said in a
statement.
"These results combined with the level of tumour regression
exhibited at current dose levels and the ease of BrachySil's
application makes it an ideal potential treatment for a range of
cancers."
The company said the results of the trial would help complete a
study on the optimum dose required.
After the completion of this phase, Phase IIa, of the BrachySil
trial, pSivida said it would move to an expanded Phase IIb.
Income from licensing activities is expected in 2005 and 2006,
with the treatment expected to be on the market worldwide by 2007
for the treatment of a variety of cancers, and not just liver
cancer.
Intersuisse research manager Peter Russell said he was not
surprised the market was buying into pSivida on the back of the
latest trial results.
"It's at an early stage," Mr Russell said.
"The point of these (biotech) companies is generally that they
are researching things that may or may not reach the market."
However he said pSivida seemed to have developed marketable
treatments.
"They are expecting BrachySil to be on the market in 2007," he
said.
"They have been basically trying to use silicon to help deliver
drugs. This seems to be suitable for delivering radioactive drugs."