Starpharma

What Starpharma does

Starpharma Holdings Limited (ASX: SPL, OTCQX: SPHRY) is an Australian biotechnology company founded in 1996 and headquartered in Abbotsford, Victoria, that develops and commercializes dendrimer-based drug delivery technology under its proprietary DEP® (Dendrimer Enhanced Product) platform. The platform uses precisely engineered dendrimer nanostructures to enhance the targeting, efficacy, and safety profiles of therapeutic agents, with the current strategic focus on oncology — including an internal DEP HER2 clinical program that received FDA approval to proceed.

The company's commercial model is built on licensing and co-development rather than direct product sales. Under its September 2025 collaboration and license agreement with Genentech (a Roche subsidiary), Genentech leads development and commercialization of DEP-enabled cancer therapies while Starpharma receives upfront payments, development and commercial milestone fees, and royalties on resulting products. Starpharma also runs an internal clinical pipeline and markets its technology to additional pharmaceutical partners through a dedicated business-development function ("Star Navigator") and a public partnering program.

Starpharma is a small, ASX-listed clinical-stage company (11–50 employees) that monetizes a single core technology platform across multiple programs and partners. Its financial profile shows negative EBITDA and operating losses in every reporting year available, indicating ongoing cash burn against a licensing-and-milestone revenue base. The company's strategic priorities visible in the data are advancing the DEP HER2 clinical program, deepening the Genentech relationship, and signing additional licensing partners to broaden the platform's commercial reach.

Name

Starpharma

Legal name

Starpharma Holdings

Website

https://starpharma.com

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

Starpharma is an ASX-listed Australian biotech that develops its proprietary DEP® dendrimer-based drug delivery platform, licensing it to pharmaceutical partners (notably Genentech) for oncology therapies and running an internal DEP HER2 clinical program.

Ownership category

akta.pro rank

Product category

Pharmaceutical Drug Delivery Technology

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714), Pharmaceutical Preparation Manufacturing (325412)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Antibody Discovery & Engineering Platforms (display tech, bispecifics, Fc engineering) (HLAAAIAB)

akta.pro secondary industry

Synthetic Biology & Genetic Circuit Design Platforms (pathway engineering, chassis development) (HLAAAIAD)

Keywords

• Dendrimer drug delivery
• Pharmaceutical biotechnology
• Targeted cancer therapy
• Nanomedicine platform
• DEP drug delivery

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Licensing and Partnership Revenue: Starpharma generates revenue through collaboration agreements with pharmaceutical companies. Under these agreements, Starpharma receives upfront payments, development and commercial milestone fees, and royalties on products developed using its DEP technology.
2. Product Sales: The company is also progressing in product sales alongside its partnership activities.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Starpharma develops and licenses its proprietary DEP® (Dendrimer Enhanced Product) drug delivery platform, a dendrimer-based nanotechnology that enables targeted drug delivery for oncology and other therapeutic applications. The company generates revenue by licensing this platform to pharmaceutical partners (such as Genentech) for upfront payments, development/commercial milestones, and royalties, while also advancing its own internal clinical pipeline (e.g., DEP HER2 for HER2-positive cancers).

Product overview

Starpharma is a pharmaceutical biotechnology company built around its proprietary dendrimer nanotechnology. The core offering is the DEP® Platform (DEP® Drug Delivery Platform), which leverages Dendrimer Technology to enhance drug delivery. The company's product portfolio centers on the DEP® Pipeline of therapeutic candidates, with key collaborations including a partnership with Genentech to develop cancer therapies. Starpharma operates primarily as a drug development company rather than a software products company, focusing on advancing its dendrimer-based drug delivery technology through clinical trials and strategic pharmaceutical partnerships.

Differentiator

Problem solved

Functional benefit

Brands

• DEP® Platform: Proprietary dendrimer-based drug delivery technology platform enabling targeted drug delivery for therapeutics.
• Star Navigator

Products and services

• DEP® Drug Delivery Platform A proprietary dendrimer-based drug delivery platform that enhances the effectiveness of drugs by targeting specific cells and tissues, improving drug delivery, efficacy, and safety profiles. Licensed to pharmaceutical partners for development of targeted therapeutics.
• Dendrimer Technology Starpharma's foundational dendrimer nanotechnology used as the building block for its drug delivery platform, enabling precise molecular engineering for pharmaceutical applications.
• DEP® Pipeline The company's clinical development pipeline featuring DEP® platform-based therapeutic candidates at various stages of research and clinical trials, including the DEP HER2 program for HER2-positive cancers.
• DEP HER2 Clinical Program DEP HER2 is Starpharma's internally developed clinical program using the DEP® platform to target HER2-positive cancers. It received FDA approval to enter clinical trials, marking a significant regulatory milestone.

Quantifiable outcome

• FDA approval for DEP HER2 clinical trial

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• GenentechcoreStrategic or Co-development Partner · 22 September 2025Starpharma Holdings signed a collaboration and license agreement with Genentech to develop cancer therapies using Starpharma's DEP drug delivery platform. Under the deal, Genentech leads development and commercialization activities, while Starpharma receives upfront payments, milestone fees, and potential royalties. This represents a significant validation of Starpharma's dendrimer technology platform by a major global pharmaceutical company.

Scale indicators2 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Arrowhead Pharmaceuticals: Clinical-stage company developing targeted RNA-interference therapeutics using proprietary delivery platforms (TRiM™). Comparable to Starpharma as a platform-based drug delivery company monetized through partnerships and internal pipeline assets.
• Alnylam Pharmaceuticals: Commercial-stage leader in RNAi therapeutics using lipid nanoparticle and GalNAc conjugation delivery technologies. Comparable to Starpharma as a delivery-platform company with multiple partnered and wholly-owned programs in oncology and rare disease.
• Arcturus Therapeutics: Clinical-stage mRNA medicines company built on a lipid nanoparticle delivery platform with partnered programs (e.g., CSL, Kostaive). Comparable to Starpharma as a delivery-platform biotech licensing its technology to large pharma partners.
• Acuitas Therapeutics: Privately-held LNP delivery technology provider whose platform underpins multiple approved and clinical-stage RNA therapeutics (e.g., partnered with Pfizer, BioNTech). Comparable to Starpharma as a pure-play delivery-platform licensor to global pharma.
• NanoCarrier: Japan-based clinical-stage nanomedicine company developing polymeric micelle drug delivery systems for oncology. Comparable to Starpharma as a polymeric nanocarrier platform targeting cancer therapeutics, though operating primarily in a regional (APAC) ecosystem.

Broad incumbents

• Moderna: Global mRNA therapeutics company using proprietary lipid nanoparticle delivery technology across infectious disease, oncology, and rare disease programs. Comparable to Starpharma as a delivery-platform biotech, though far larger, vertically integrated, and with approved commercial products.
• BioNTech: Commercial-stage immunotherapy company using LNP-mRNA delivery across oncology and infectious disease, with a deep partnership network (e.g., Pfizer). Comparable to Starpharma as an oncology-focused delivery-platform biotech with a partnership-driven commercialization model.

Emerging players

• Selecta Biosciences: Clinical-stage immunology company developing nanoparticle-based immune tolerance platforms (ImmTOR/SEL-212). Comparable to Starpharma as a nanoparticle delivery platform pursuing therapeutic applications with partnered programs.
• Nanospectra Biosciences: Clinical-stage company developing AuroLase® therapy, a gold nanoshell-based targeted thermal ablation platform for oncology. Comparable to Starpharma as a nanomedicine oncology platform with first-in-class targeted delivery concepts.
• CytImmune Sciences: Clinical-stage oncology company using tumor-targeted gold nanoparticle delivery (CYT-6091/CYT-11000) to concentrate chemotherapy at tumor sites. Comparable to Starpharma as a nanoparticle-based targeted oncology delivery platform.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/starpharma_asx
• LinkedInlinkedin.com/company/starpharma

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Starpharma