Pallane Medical (PNM)

Shares / Stock Code

PNM

Stock Exchange / Sharemarket

ax

Pallane Medical is the new name for Dia-B. Dia-B Tech Limited’s underlying strategy and objective is the discovery and development of pharmaceuticals, diagnostics and treatments for diabetes and diabetes-related diseases. The company's primary focus is to further develop its most advanced project, ISF402, to take to human trials in mid-2006 with the aim of providing a safe glucose lowering drug, likely to be taken orally. Dia-B is structured to run as a “virtual operation” with low overhead costs. Research projects are carried out by four significant institutions in Victoria – Monash University, International Diabetes Institute, Baker Medical Research Institute and Deakin University in collaboration with Intramed Limited.

DIA was established in October 2002 and was listed on the ASX in Jauary 2005. Its head office is situated in Melbourne. DIA's primary focus is the development of its most advanced project, ISF402, to take to human trials in early 2006 with the aim of providing a safe glucose-lowering drug, likely to be taken orally. DIA is structured to run as a “virtual operation” with low overhead costs. The research projects are carried out by four institutions in Victoria – Monash University, International Diabetes Institute, Baker Medical Research Institute and Deakin University in collaboration with Intramed Limited.

Since the company concentrates on R&D, customers are minimal. Potential customers include people who suffer from type I and type II diabetes. Major competitors are other R&D companies involved in the industry, locally and internationally, finding treatments for the diabetes epidemic, such as Living Cell Technologies.