announcement

30th May 2014

The Company Announcements Platform
ASX Limited
By E-lodgement

Virax Completes Acquisition of US Specialty Oncology
Company and Novel Cancer Drug Candidate


HIGHLIGHTS
? Pathway Oncology acquisition finalised with Virax taking exclusive worldwide
license to valuable drug candidate GGTI-2418

? Virax becomes mid-clinical stage oncology company, with Phase 2 clinical
program expected 2015/16

? Overwhelming shareholder support for all scrip acquisition to be paid in three
tranches

? High calibre international biotechnology executive Paul Hopper joins board
as executive director

30th May 2014, Melbourne, Australia: Australian biotechnology company Virax Holdings
Limited (ASX:VHL) (Virax) has finalised the acquisition of specialty oncology company
Pathway Oncology Pty Ltd (Pathway) and its novel cancer drug candidate GGTI-2418.
The acquisition immediately transforms Virax into a mid-stage clinical oncology company
with the novel lead compound expected to move into further clinical trials in breast cancer
and multiple myeloma in Q2 2015.
Under the terms of the acquisition agreement, Virax has issued 60 million Virax shares to the
vendors with the issue of a further 180 million Virax shares to the vendors contingent on the
meeting of major clinical and regulatory milestones. Each of the Pathway shareholders has
agreed that the shares will be subject to a voluntary escrow period of 12 months from the
settlement date.
As part of the transaction, esteemed Los Angeles based biotechnology executive Mr Paul
Hopper will join the Board as an Executive Director. He brings more than 20 years
experience in international public company markets, primarily in the life sciences sector. Mr
Hopper has entered into an Agreement with the Company as an Executive Director,
commencing at settlement of the Pathway transaction and for an ongoing term subject to
termination by the Company with 2 months’ notice. Mr Hopper will be entitled to an
annual base fee of $90,000 per annum.


2

www.virax.com.au
Virax Executive Chairman Dr Wayne Millen said completion of the Pathway acquisition
represented another important milestone for the Company.
“We will now seek to maximise shareholder value by progressing these novel and important
assets through clinical programs, with plans to expeditiously launch Phase 2 trials of the
technology in breast cancer and multiple myeloma – both diseases with a high unmet
need for new therapies. The GGTI-2418 is an asset potentially synergistic with existing
standards of care or as a monotherapy. It is a compelling acquisition which we believe
holds great potential up-side for Virax shareholders.
“In addition, the appointment of an experienced biotechnology executive of Paul
Hopper’s calibre adds further weight to our executive team as we move forward.”
GGTI-2418 is a novel, first in class cancer immunotherapeutic with ability to block an
important cancer growth enzyme known as GGTI, as well as Ral and Rho circuits in cancer
cells which are key oncogenic survival pathways. The technology emanates from a
collaboration between Yale University and the Moffitt Cancer Centre, which is the third
largest cancer centre in the United States.
The drug has been shown to cause significant breast tumor regression in ErbB2 transgenic
mice models. A strong safety profile was established in a US Phase 1 clinical trial where four
patients with advanced stage, treatment-refractory solid tumors demonstrated stable
disease.

-Ends-

For further information contact:

Mr. Rudi Michelson Dr. Wayne Millen
Monsoon Communications Executive Chairman
Ph: +61 (0) 3 9620 3333 Ph: +61 (0) 8 9486 7422