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press releases
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2004
2003
2002
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news release
Benitec and The Garvan Institute collaborate
on diabetes
December 12, 2002
Benitec (ASX:BLT), the leader in gene silencing technology,
announced today a collaboration with the Garvan Institute
of Medical Research in Sydney to investigate the role
of specific genes in Type II Diabetes.
Using Benitec's proprietary gene silencing (RNAi)
technology, the project's objectives are to determine
the function of these genes and evidence their role
in glucose metabolism and insulin action. This could
provide new gene and gene product targets for the development
of drugs against Type II Diabetes. Benitec will provide
specially designed DNA (gene) constructs that will target
and silence the suspected Diabetes genes identified
by The Garvan Institute. Through its agreement with
The Garvan Institute, Benitec will have a first option
to negotiate commercial rights to any new intellectual
property arising from the collaboration. It will also
enable Benitec to develop gene silencing or RNAi-based
therapies against the gene targets.
Market background to collaboration
Type II Diabetes is a growing problem and of increasing
commercial interest to the healthcare industry. There
are currently 150 million people worldwide with Diabetes
and this number is expected to double over the next
decade. One of the major problems associated with Type
II Diabetes is impaired insulin action. Insulin normally
facilitates the uptake of glucose into muscle and fat
cells where it is stored as energy. In Diabetes this
process is defective.
Comments
Professor Ken Reed, Director of Research and Technology
at Benitec, commented "increasingly gene silencing or
RNA Interference (RNAi) technology is being recognized
as the most effective and efficient means of revealing
both gene function and validating new drug targets.
We are very pleased with this opportunity to collaborate
with the Garvan Institute. It will provide external
validation of our technology with a world renowned medical
research institute and promises to identify critical
genes involved in Diabetes."
"Medical research institutes together with pharmaceutical
and biotechnology companies worldwide are in a race
to determine the function of the thousands of genes
identified from the sequencing of the human genome and
identify new targets for drug development. This functional
analysis is time-consuming and inefficient and represents
a significant bottleneck in the development of new therapies
against disease. Benitec's gene silencing platform has
the potential to break through this constraint and dramatically
accelerate the speed and efficiency of gene function
analysis and target validation. This collaboration is
a further example of Benitec's commercialization strategy
of external validation of our technology and tools and
the sharing of commercial outcomes" said John McKinley,
CEO of Benitec.
About Benitec Limited
Benitec, based in Queensland Australia, has key Intellectual
Property in the field of gene silencing using DNA to
trigger RNA Interference. The Company was the first
to demonstrate RNA Interference, a gene silencing mechanism,
in mammalian and human cells; a natural mechanism now
recognized worldwide as the simplest and most precise
method for silencing genes. The technology is immediately
applicable to and promises to revolutionize the field
of functional genomics - the determination of gene function.
Benitec's technology can also be applied to the treatment
of major human diseases such as cancers, autoimmune
disorders and viral infections through the shutting
down of disease causative genes. Other applications
include plant improvement and the breeding of viral
resistant livestock. Benitec offers customers licences
to undertake research and development on its expanding
technology platform and tools to deliver the technology's
capability.
About the Garvan Institute
The Garvan is the largest research institute in New
South Wales and an Australian leader in forging productive
links with the biotechnology industry. The Garvan's
molecular, clinical and translational programs focus
on the genetic basis of disease including: Diabetes,
Obesity, Osteoporosis, Neurobiology, Arthritis and Cancer.
The Garvan's commercial initiatives build on world-class
medical research and a strong patent portfolio. The
Garvan is a leader in the recently-announced Bio-Link
initiative, a $5.9m bio-business program covering over
1,200 medical researchers. Recent successes have included
collaborative partnerships with biotechnology companies
in the US and Australia, technology licenses with pharmaceutical
companies in Europe, US and Japan and the formation
and financing of a new Australian biotechnology company,
G2 Therapies Limited.
This press release contains forward-looking
statements which reflect the Company's current expectation
regarding future events. Forward-looking statements
involve risks and uncertainties. Actual events could
differ materially from those projected herein and depend
on a number of factors including the success of the
Company's research strategy, the applicability of the
discoveries made therein, the successful and timely
completion of clinical studies and the uncertainties
related to the regulatory process.
Contacts
John McKinley
Chairman and CEO
Phone +61 7 3217 8540 or +44 7767 367 193
Prof. Ken Reed
Director Research and Technology
Phone +61 7 3217 8540 or +61 7 407 250 245
Dr James Anderson
Managing Director
Phone +61 7 3217 8540 or +61 404 804 599
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