Stellar Issues Year-End Results and Highlights from 2013
News Jan 03, 2014
Stellar Biotechnologies, Inc. has announced the filing of its annual report for the fiscal year ended August 31, 2013 and financial results and operational highlights for 2013.
Selected Highlights from 2013
• New Corporate Partnership: Stellar executed a collaboration agreement with Amaran Biotechnology, Inc. in December 2013, to develop and evaluate methods for the manufacture of OBI-822 active immunotherapy using Stellar’s GMP grade KLH. OBI-822 is the lead immunotherapy product of OBI Pharma, Inc., manufactured by Amaran and currently in Phase II/III clinical trials in the U.S., Taiwan, South Korea, India and Hong Kong, for the treatment of metastatic breast cancer. The collaboration involves an important, multinational clinical project with long-term product development and commercial potential.
• Strengthened Balance Sheet: In September 2013, Stellar raised US $12 Million in gross proceeds in a private financing that included a US $5 Million investment by Amaran Biotechnology, Inc., a privately-held Taiwan biopharmaceuticals manufacturer. Proceeds will be used for product research, aquaculture and KLH production development, capital expenditures and working capital. The financing represented continued support from Stellar’s major shareholders, validation from industry investment, and fiscal strength for the Company to execute on its strategic plans
• Strategic Program Expansion; Clostridium difficile Active Immunotherapy Platform: In July 2013, Stellar acquired the exclusive, worldwide license to patented technology for the development of human immunotherapies against Clostridium difficile infection (“C. diff”) from the University of Guelph in Canada. The license broadens Stellar’s business opportunities by adding a strong platform for the Company’s own proprietary active immunotherapy program. In October 2013, the Company announced presentation of positive results from a preclinical study related to the C. diff development program.
• Environmental Achievements & Intellectual Property: In 2013, Stellar has announced several milestones further strengthening the Company’s competitive position and barriers to entry around its KLH business. Among these achievements was the industry-first capability to support the complete life cycle of the Giant Keyhole Limpet (Megathura crenulata), the scarce marine mollusk that is the only source for KLH protein. Stellar also announced new patents issued (in U.S. and China) related to its C. diff immunotherapy technology, as well as two U.S. patent applications for new KLH innovations developed at Stellar.
Stellar’s strategic objectives for 2014 are:
• Expand our Stellar KLH™ technology portfolio through ongoing research and development and selective acquisition, while maintaining a strong balance sheet with careful resource management.
• Seize opportunities for commercial growth that build on our strengths and core competencies in KLH development and immunotherapy.
• Identify strategic pathways that leverage our Stellar KLH™ products and expertise into immunotherapy solutions.
• Prepare for transition to major U.S. stock exchange
Frank Oakes, Stellar’s President and CEO said, “We are entering 2014 with unmatched competency in sustainable KLH manufacturing and focused on leveraging this position into new opportunities with key stakeholders and commercial partners in the biopharma industry. We have built high barriers around Stellar’s technology platform, and we are now aggressively expanding with our own immunotherapy development program, further broadening our business potential. This combination of robust platform together with multiple avenues for strategic growth, positions Stellar to capture significant market interest in the future.”