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Starpharma Holdings Limited (ASX:SPL)

ALERT: Price-sensitive ASX Announcement for SPL
Current share price for SPL : $0.470 -0.28 (-37.33%)+
Announcement
Release
20 Oct 2026 9:31AM
Price at Release
$0.750
Full Release
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Summary
Starpharma Holdings Limited (ASX: SPL) announced that it has increased its ownership in Petalion Therapeutics from 22.5% to 66%, giving it majority ownership, governance control and operational leadership of Petalion’s fibroblast activation protein (FAP)-targeted DEP® oncology program, while Medicxi remains a strategic partner with a 30% stake and Board representation. Starpharma will contribute up to AUD $5.0 million, comprising AUD $3.0 million in cash and up to AUD $2.0 million in R&D services, to support the next phase of the program, which will focus on optimisation, lead candidate selection and defining the future development and partnering pathway. The announcement positions the transaction as a disciplined investment that strengthens Starpharma’s targeted oncology portfolio by adding a differentiated FAP-targeted dendrimer-drug conjugate, leveraging the DEP® platform’s tumour localisation, penetration, retention and payload delivery capabilities across potential solid tumour indications such as pancreatic, lung and breast cancers; Petalion will become a UK-incorporated subsidiary of Starpharma, with Cheryl Maley to chair the Board.
Key Points
  • Starpharma increased its equity interest in Petalion Therapeutics from 22.5% to 66%.
  • The transaction gives Starpharma majority ownership, governance control and operational leadership of the FAP-targeted DEP® oncology program.
  • Medicxi will retain a 30% interest, Board representation and an active strategic role.
  • Starpharma will contribute up to AUD $5.0 million, including AUD $3.0 million in cash and up to AUD $2.0 million in R&D services.
  • Petalion was established in 2024 as an asset-centric company focused on a single FAP-targeted oncology program using Starpharma’s DEP® platform.
  • The next phase will focus on further optimisation, lead candidate selection and defining the development and partnering pathway.
  • FAP is described as highly expressed in the tumour microenvironment across many solid tumours, making it a potential pan-cancer target.
  • The program adds a differentiated FAP-targeted dendrimer-drug conjugate to Starpharma’s oncology portfolio.
  • Petalion will become a UK-incorporated subsidiary of Starpharma Holdings Limited.
  • Starpharma stated the investment aligns with capital allocated to new R&D pipeline opportunities from its recent capital raise.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.