Mining majors join forces to sponsor Virax HIV drug clinical trial in South Africa

Melbourne, Australia 27 November 2006: Seven new global mining companies have joined the consortium led by BHP Billiton to fund the first emerging country trials of Virax’s VIR201 HIV/AIDS therapeutic vaccine, to take place in South Africa.

The consortium now includes:
 

• BHP Billiton (cornerstone investor)

• Gold Fields Limited

• Harmony Gold Mining

• Lonmin Plc,

• Mitsubishi Materials Corporation

• Nippon Mining and Metals Co., Ltd.,

• Sumitomo Metal Mining Co., Ltd., and

• Rio Tinto
   

Virax’s Chairman Dr Tom Quirk, released the current list of corporate participants in the South African trial at Virax’s AGM today.

In an innovative drug development strategy, Virax has formed a South African non-profit organization for corporate donors with significant operations and interests in South Africa and other African countries where HIV/AIDS is endemic to provide funding for a phase I/IIa trial in an emerging country environment. In effect, this has seen the formation of a global coalition of corporations to fight AIDS with contributions from four nations – Australia, Japan, South Africa and the United Kingdom.

CEO David Beames commented: “We are seeing a far-sighted and open-minded response to an extremely critical health situation in Africa from some of the world’s great mining and metal companies. BHP Billiton has been a stalwart cornerstone participant and we are now delighted that seven the other companies have become involved. Although our funding task is not yet complete, we are confident that the calibre of the current participants will help attract further South African corporate donors.”

The proposed trial will involve 140 HIV positive subjects in 5 well established HIV clinics across 4 provinces in South Africa. Virax has lodged a Clinical Trial Application with the South African Medicines Control Council to conduct the trial.

The project will be non-dilutive to Virax, which is to contribute its intellectual property. The international contract research organization (CRO), Quintiles, will implement the trial and provide project management in South Africa under Virax’s management control. Dr Des Martin, Immediate Past President, Southern African HIV Clinicians Society, will formally supervise the trial as National Principal Investigator.

VIR201 is the only therapeutic vaccine based on stimulating the immune system known to have shown a positive effect in suppressing virus levels in HIV infected patients in fully controlled, gold standard, clinical trials.

The devastating impact of HIV on African society, both culturally and economically has been well documented. Existing highly active anti-retroviral treatments have significantly reduced the toll of this disease in Australia, the United States and Europe. These drugs are already providing some benefit in parts of Africa, but will not provide more than a partial solution for emerging countries. Not only is the cost of anti-retroviral treatment prohibitive for widespread distribution in Africa, but the resource-limited medical infrastructure is unable to support the comprehensive programs required to control the HIV pandemic. Furthermore, the effects of anti-retroviral treatment are not well tolerated by people in situations where poor nutritional status and lack of access to clean water is often accompanied by other disease burdens like TB or malaria.

Virax hopes to achieve full funding for the project in early 2007.

About Virax
Headquartered in Melbourne, Virax Holdings Limited (ASX: VHL) is a biotechnology company engaged in the development of some of the world’s most promising treatments for diseases such as HIV/AIDS, prostate cancer, hepatitis B and other infectious and autoimmune diseases. Virax’s focus is on technology that underpins the development of immune-based therapies (immunotherapy) – therapies that use biological signals to direct the immune system to treat disease.

Please find below the latest announcement from Virax Holdings (ASX:VHL). Should you require further information, please contact Justine Lamond on +44 (0)20 3008 7550 or virax@northbankcommunications.com