Benitec Limited (ASX:BLT) Enters Into Binding Agreements For Treatment Of Chronic Hepatitis B Virus (HBV) With Biomics Biotechnologies In China

Melbourne, Sep 7, 2009 AEST (ABN Newswire) - Benitec Limited (ASX:BLT)(PINK:BNIKF) has now entered into binding agreements with China based Biomics Biotechnologies Co. Ltd. As previously announced, the companies are collaborating on a DNA directed (ddRNAi) or vector expressed RNAi for the treatment of chronic hepatitis B virus (HBV) infection.

"We are delighted that the teams at Benitec and Biomics Biotech have been able to put together the final project plan, budgets and agreements in such a short period of time for this Hepatitis B initiative. Chronic hepatitis B virus (HBV) infection is one of the leading causes of liver cirrhosis and hepatocellular carcinoma (HCC) and our combined technologies have the potential to offer a more effective antiviral therapy for HBV infection" said Sue MacLeman, Chief Executive Officer, Benitec Limited.

The first step in this collaboration will be for the scientific teams to undertake further target identification and validation. Once the target is validated it will undergo preclinical testing before moving to early stage clinical trials. The companies will jointly share in intellectual property developed during this project and will also jointly collaborate in product development and commercialisation. The other terms of the agreement are confidential.

Contact

BENITEC LTD Sue MacLeman Chief Executive Officer TEL: +61-437-211-200