Circadian Technologies (CIR)

Shares / Stock Code

CIR

Stock Exchange / Sharemarket

ax

Circadian Technologies (CIR) is a biotechnology company engaged in the development and commercialisation of biologics-based therapies for the cure of cancer and other serious diseases. The Company has shifted its focus from biotechnology investment and incubation to the development of angiogenesis-based therapeutics for the treatment cancer and other serious diseases. Circadian listed on the Australian Stock Exchange on 18 April, 1991 and currently it has around AU$59 million in cash. The Company has accumulated a wide portfolio covering key targets (Vascular Endothelial Growth Factors C and D) for the treatment of angiogenesis based diseases through its unlisted subsidiary, Vegenics Limited. On August 14, 2008, Circadian announced the completion of the takeover of the Ludwig Institute for Cancer Research Ltd’s (LICR) and Licentia Limited’s (Licentia) with collective interest of 33% in Vegenics. This allowed the Company to acquire 100% interest in Vegenics Limited from previously held 67% interest.
Circadian owns an extensive portfolio of intellectual property estate covering the key angiogenesis targets VEGF-C, VEGF-D and VEGFR-3. These IP rights comprise more than 50 patent families, 200 granted patents and 500 patents pending throughout the world. The biologics drugs included in the Company’s internal product pipeline are targeted at three important mediators of angiogenesis. The Company’s program, VGX-100 is in preclinical development stage and it is expected to enter clinical trials in 2011. VGX-100 is an antibody inhibiting the VEGF-C protein. Circadian has commercial partnerships with other major biotechnology companies that will develop products using CIR’s technology including Ark Therapeutics (Phase 3 clinical trials), and ImClone Systems Inc (preclinical development). Circadian boasts itself for having some of the most experienced and successful people in the Australian biotechnology industry of Australia.

Circadian Technologies History

The Company was incorporated in 1984 as a holding company for Biochemtec Pty Ltd. It made its debut on the ASX in April 1991. At present, CIR has minority stakes in a range of ASX listed biotech companies such as Optiscan Imaging, Metabolic Pharmaceuticals, Antisense Therapeutics, Zenyth Therapeutics and Avexa Limited. Since 2008 Circadian has moved its focus on the development of biologics-based therapies for cancer treatment, with a core focus on leveraging the product pipeline and extensive intellectual property assets of its wholly owned subsidiary, Vegenics. Under Vegenics, Circadian owns three drug development programs focusing various mediators of the process of angiogenesis for the treatment of cancer and other illnesses. CIR has also licensed selected Vegenics intellectual property to major biotechnology companies worldwide for the manufacturing of other products.