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12:00 AM
Feb 17, 2003
 |  BioCentury  |  Politics, Policy & Law

A shot in the arm for Australian biotech

Cephalon Inc.'s acquisition of SIRTeX Medical Technologies Ltd. for $161 million in cash provides proof-of-concept that Australian biotech can create value that attracts the attention of the outside world. But given their geographic and temporal distance from the rest of the world, Australian companies need to build additional infrastructure to connect science with business on a global level. And, as in the rest of the world, recognition is quicker to come for companies with successful product development stories.
Last week's deal gives Cephalon (CEPH, West Chester, Penn.) a marketed liver cancer treatment called SIR-Spheres. The treatment delivers radiation to tumors using biocompatible microspheres containing yttrium-90 that emit high energy beta radiation. Indeed, SIR-Spheres already is a global product, with approvals in the U.S., Europe, Australia and parts of Asia.
SIRTeX (ASX:SRX, Sydney, Australia) has two...

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