The Starpharma Holdings Limited (ASX: SPL) share price has been a strong performer on Tuesday.
At the time of writing the dendrimer products-focused biotechnology company's shares are up 14% to $1.23.
Why is the Starpharma share price surging higher?
This morning Starpharma announced that its VivaGel BV product has officially been launched in Australia by Aspen Pharmacare as Fleurstat BVgel.
The product has undergone distribution across Australia and is already available in some pharmacies. It will be progressively rolled-out nationally over the coming weeks.
According to the release, this is the first launch of VivaGel BV in the world, with further launches by Mundipharma expected in Europe in May or June of this year.
What is VivaGel BV?
VivaGel BV is a novel, non-antibiotic therapy for treatment of bacterial vaginosis (BV) and relief of symptoms. BV is the most common vaginal condition worldwide and twice as common as thrush.
The product is an Australian innovation – invented, fully developed and taken through to commercialisation by Starpharma.
The VivaGel BV treatment product targets an area of significant unmet medical need in a high-value market, estimated by the company to be US$750 million.
It is also approved in Europe for treatment and prevention of recurrent BV and has been submitted to regulatory authorities in a number of international markets, including the United States. Prevention of recurrent BV is another high value market, estimated to be worth US$1 billion.
What now?
The company's CEO, Dr Jackie Fairley, was pleased with this milestone and appears to be very positive on the company's prospects.
She said: "We are very pleased to have achieved the important milestone of first launch of VivaGel BV in the world, in collaboration with our Australian partner, Aspen. Given this is the first of many launches for this breakthrough BV product globally, this is a very exciting period for the company. VivaGel BV, marketed in Australia as Fleurstat BVgel, is a real success story for Australian innovation. It's exceedingly rare to have a global healthcare product developed by an Australian company all the way from concept to commercialisation, let alone with the first global launch in Australia."
Should you invest?
Whilst it is a little soon for an investment for me, I think Starpharma is certainly one to watch.
For now, I would stick with the likes of CSL Limited (ASX: CSL) and Nanosonics Ltd (ASX: NAN).
