OPERATIONAL REVIEW
The first half of 2013 has been a mixed period for Phylogica. There has been solid progress with existing partnerships and meaningful enhancements to the Phylomer platform. The Company completed a major upgrade of its platform, such that the new generation Phylomer libraries comprise almost 50-fold more peptides, amounting to over 100 billion unique structures.
The most notable progress to report from existing alliances was with Janssen Biotech, which is the Company’s largest and broadest partnership. In January 2013, Janssen extended the collaboration following the encouraging progress achieved since commencing the research. In the first stage, Phylogica successfully constructed customised libraries of Phylomer peptides conjugated to Janssen’s proprietary therapeutic cargo. The screening stage has now commenced, in which Phylogica will identify Phylomer-drug conjugates from these libraries as potential drug candidates against a disease cell type of interest to Janssen.
In the first six months of the financial year, Phylogica achieved another first in signing its inaugural cosmetics deal, licensing the Company’s skin-repair Phylomer peptide PYC35 to Le Métier de Beauté for use in cosmetic products. Le Métier will use PYC35 in its premium range of Peau Vierge anti-aging creams that will be commercialised initially across the USA through highend department stores. It is expected that the new cosmetic serums will be launched by the end of 2013.
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