NEWS

Medicines Development places first Development Manager at Virax Holdings Ltd

August 31, 2011

Medicines Development is pleased to announce that Charlotte Mulder has completed its rigorous Development Manager Training Program and has been successfully placed at Virax Holdings Ltd as a Development Manager. Charlotte is Medicines Development’s first trainee and placement under its Development Manager training and placement initiative supported by the Victorian Government’s Smart SME’s Innovation and Commercialisation program.

Charlotte’s ability, combined with the tools and training she received, provides Virax with the development capability to progress TG1042, a clinical-stage skin cancer immunotherapy, through the upcoming clinical phase I/IIa trial program. In addition, as a partner in the Development Manager training and placement program, Virax benefits from the extensive development experience of Medicines Development’s senior management team and accessibility to project management tools tailored to the management of product development in the biotechnology and pharmaceuticals sectors. The funding Medicines Development receives from the Victorian Government allows Virax to access these services at affordable rates significantly below the commercial fees that would be otherwise charged.

Mark Sullivan, Director of Medicines Development explained that “The placement of Charlotte at Virax demonstrates how the Victorian Government support we have received to implement the Development Manager training and placement program is successfully delivering development management expertise to the biotech sector. Additionally, we are pleased to partner with Virax and assist in the development of TG1042, an exciting new immunotherapy that has the potential to significantly enhance treatment options for nodular basal cell carcinoma.”

Dr Larry Ward, Chief Executive Officer at Virax said “Virtual companies, like Virax, are highly reliant on skilled executives managing the complex interplay of drug development processes. The ability to access high quality development management expertise in a manner that is partially subsidised by the Victorian Government is therefore highly valuable to the company. We are very happy with the programme and congratulate the Victorian Government for their support of this initiative to fill this important skills gap within the biotechnology sector in Victoria.”

Medicines Development is seeking other partner companies requiring development management capability and who wish to benefit from the Development Manager program and the value-added services offered.

ABOUT MEDICINES DEVELOPMENT
Medicines Development is currently engaged in the development of a number of products in both preclinical and clinical stages using proven, industry-standard methodologies. The Company’s unique approach is to place a skilled, dedicated Development Manager within a client company, with the backing of proven international development knowledge of its senior management and the functional expertise of their network of specialist advisors. For more information on Medicines Development Limited please visit www.medicinesdevelopment.com or call +61 3 9629 6111.

ABOUT VIRAX HOLDINGS
Virax is an Australian biopharmaceutical company engaged in the discovery and development of novel immunotherapeutic products for the treatment of chronic infectious diseases and cancer. Its lead program is TG1042 skin cancer immunotherapy skin cancer treatment product. It acquired the TG1042 program from major French biotechnology company Transgene. Virax has a worldwide exclusive License Agreement with Transgene for Virax to develop TG1042.