Australia Opens Doors to World's Largest Exotic "Nature Bank" -- a 400,000 Compound Library for Drug Development -- at BIO 2007.

Also From Australia -- Bacteria Eating-Viruses, Anti-Radiation and Anti-Aging Compounds, Breast Cancer Drug News, and Metabolic Syndrome Findings -- and More

BOSTON & SAN FRANCISCO -- More than 57 Australian exhibitors [Australia Pavilion Stand #1515] are at BIO 2007, part of Australia's 400-strong delegation. Among these are some of the most innovative research centres and universities in the region such as Griffith University which is launching its "Nature Bank", a bank of more than 400,000 compounds from plants and marine invertebrates ready for drug trials.

The "Nature Bank" [Queensland Compound Library], which has taken more than 10 years to assemble, features unique compound samples collected from flora and fauna across Australia's tropical north including the famous Daintree Rainforest and the Great Barrier Reef, parts of China and the remote and largely untouched tropical forests of Papua New Guinea.

Invest Australia's Senior Investment Commissioner for North America, Fred Welz, said the Australia Pavilion at BIO 2007 showcased some of the most attractive investment and partnering opportunities from our world renowned research centres and innovative biotech firms.

The "Nature Bank" was just one example of the rich vein of opportunities available to US biotechs and pharmas who cast their net across the Pacific to Australia for drug candidates, medical devices and world class R&D.

Project leader Professor Ron Quinn of Eskitis Institute for Cell and Molecular Therapies at Australia's Griffith University said Australia's bizarre flora and fauna had evolved in isolation from the world for millennia, creating a unique biodiversity hot-spot.

Professor Quinn said naturally-occurring biological products were a better 'fit' with biology of the human body than many synthetic substances, and were still the main medicines used by 80 per cent of the world's population.

"Many of the world's leading drugs are natural product derived. The cholesterol-lowering drug lovastatin (Altocor(TM)) was derived from a fungus. The next generation drug atorvastatin (Lipitor(TM)) is the world's largest selling drug and is synthesised in a lab.

"Another example is the breast cancer drug paclitaxel (Taxol(TM)), which was derived from the stripped bark of the Pacific Yew tree," said Professor Quinn.

Welz notes that Australia was ranked first in the Asia-Pacific as a biotech location, and Australia's intellectual property protection is world class. Its patent and copyright enforcement regime is ranked second best in the Asia-Pacific and sixth worldwide and ahead of the US.

Other top news and opportunities from the Australia Pavilion:

BACTERIOPHAGE -- BACTERIA-EATING VIRUSES - FACTORY OPENS IN SYDNEY -- Special Phage Services (SPS) tackles the growing worldwide problem of antibiotic resistance through the use of special bacteria-eating viruses or "bacteriophages" in a process called phage therapy. SPS has built a laboratory at Brookvale and plans to become Australia's first supplier of phage therapy. In the past two years SPS has isolated bacteriophages which attack resistant bacteria occurring in the human health, veterinary health, and aquaculture industries.

ANTI-RADIATION/ANTI-AGING COMPOUNDS IN US/AUSTRALIAN DEAL - NEW COMPANY FORMED -- Proteome Systems Ltd. (ASX:PXL) announces A $4 million anti-radiation and anti-aging topical drug compound deal with new US firm Minerva Healthcare Inc backed and formed by founders of Impax Laboratories, Athena Diagnostics, and Ivax Pharmaceuticals.

OESTROGEN AND OBESITY LINK - Prince Henry's Institute has shown in animal tests the link between oestrogen levels in men and women and obesity, stroke, cancer, heart disease and diabetes, known as the Metabolic Syndrome.

CANCER DRUG -- Bionomics Limited (ASX:BNO) has just presented the latest preclinical findings revealing that cancer drug candidate BNC105 has even greater capability to regress tumours than initially expected. The mouse studies showed that following two cycles of BNC105 treatment 14 per cent of mice carrying human breast cancer became tumour free. Bionomics has also just announced that it has completed the GMP (Good Manufacturing Practices) synthesis of BNC105. Bionomics is now using this material for formal toxicology studies, the final stage of testing prior to anticipated human clinical trials. The same batch will also be used for clinical trials.

DIABETES PHASE 2 TRIAL COMMENCES -- The Phase 2 clinical trial of intranasal insulin (INIT II) for the prevention or delay of type 1 diabetes has commenced with the first patient recently beginning treatment at the Royal Melbourne Hospital.

INIT II is a multi-centre, randomised, double-blind, placebo controlled trial which will determine whether intranasal administration of insulin to children and young adults at risk of type 1 diabetes will delay or prevent the onset of type 1 diabetes. The Diabetes Vaccine Development Centre (DVDC) has committed in excess of U$4 million [A$5million] to the INIT II trial.

CLINICAL TRIALS SOFTWARE - The new EVADO clinical trial software from Invision IT Systems Pty Ltd (Australia) solves some of the biggest bugbears in clinical trials today, namely, how to manage case record forms and trial data efficiently and cost-effectively.

DRUG DELIVERY TECH DEAL -- Global drug delivery company, pSivida Limited, announced this month that it has signed an exclusive worldwide collaborative research and licensing agreement with Pfizer Inc. for pSivida's controlled drug delivery technologies including the MedidurTM technology in ophthalmic applications.

Visit Australia's biotech representatives at BIO 2007, Boston, May 6-9, 2007, at the Australia Pavilion (Stand # 1515).

For more information during BIO 2007 about investing in Australia please contact Investment Directors Kelly Sims on 415-624-7310 or Helen Hill on 917-608-3430.

Fast Facts on Australian Biotech

* 427 core biotech companies operate in Australia

* 76 listed biotechs in December 2006.

* 49% of core biotech companies in human therapeutics 16% are agricultural companies and 13% are diagnostic companies

* 625 medical devices companies operate in Australia (22% are diagnostic devices)

* 60% of biotech alliances announced in 2006 involved

* Doubling of biotech jobs from 6,000 in 2004 to over 12,000 in 2006

* Revenue of US$2.6 billion for listed Australian biotechs (7% increase on 2005)

* Australia is ranked the number one biotech location in the Asia-Pacific region, and fifth in the world (Ernst & Young, 2005). Source: www.ey.com/global/content.nsf/International/Biotechnology_Libr ary_Beyond_Borders_2006 (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)

About Invest Australia - www.investaustralia.gov.au

Invest Australia, is the Australian Government's inward investment agency that helps international companies build their business in Australia and offers investors a free, comprehensive and confidential service.

Between July 2002 and March 2007, Invest Australia played a verified role in attracting or facilitating 357 projects worth approximately A$55 billion, with the potential to create more than 27,000 jobs and generate A$12.5 billion in export earnings.