AFT collaborates to develop birthmark medicine

AFT Pharmaceuticals Limited,
Level 1, 129 Hurstmere Road, Takapuna, Auckland 0622, New Zealand
Incorporated in New Zealand ARBN:
ARBN 609 017 969 investor.relations@aftpharm.com





1 September 2022
AFT collaborates to develop birthmark medicine
AFT Pharmaceuticals (NZX: AFT, ASX: AFP) today announces it has reached
agreement with Massey Ventures, the commercialisation company of Massey
University, and the Gillies McIndoe Research Institute, to license intellectual property
to allow the development of a topical treatment for strawberry birthmarks (infantile
haemangiomas) in children.
The agreement covers the intellectual property emerging from Massey Ventures and
Gillies McIndoe research that demonstrated the synergistic action of two well-known
heart medicines (beta blockers and angiotensin-converting enzyme inhibitors) in the
topical treatment of strawberry birthmarks.
AFT will work with Massey Ventures and the Gillies McIndoe Research Institute to finalise
the ingredients for a topical treatment and will then lead a full medicine development
programme including clinical studies.
The programme is expected to be accommodated within the company’s existing
research and development budget, which is forecast to rise to $12m in the FY 2023
financial year from $10.2m in FY 2022.
Strawberry birthmarks affect up to 10% of children, with the majority appearing on the
head and neck
1
. In approximately 15% of cases, they require treatment during infancy
because of the threat to bodily function and sometimes life.
The standard treatment for these cases is oral propranolol, an anti-hypertensive
medication, but treatment usually needs to continue for 12 -14 months and there are
potential side effects such as low blood sugar.
In less severe cases, the birthmarks can regress spontaneously without treatment, but
this can take several years, and a large proportion of children are left with a blemish
that requires treatment with surgery and/or laser therapy. Topical application of beta-
blockers has been used in these cases; however, this is only useful for very superficial
lesions.
AFT Managing Director Dr Hartley Atkinson says: “We see this as a very worthwhile area
to help the treatment of children with disfiguring birthmarks. It also offers an attractive
global commercial opportunity and is aligned with our recent drive to build up our
research and development pipeline to fuel our global growth aspirations.

1
N.Roberts (2009) Clin Med (London); 9(4), 385-389.

AFT Pharmaceuticals Limited,
Level 1, 129 Hurstmere Road, Takapuna, Auckland 0622, New Zealand
Incorporated in New Zealand ARBN:
ARBN 609 017 969 investor.relations@aftpharm.com

“With the tightening economic conditions, we have seen more research and
development opportunities arise so AFT is aggressively pursuing these growth
opportunities. In the next three to four years, we foresee that we will be launching
some 78 new products in our Australasian markets and a number in global markets
over the next two to five years.”
Massey Ventures CEO, Mark Cleaver says the agreement with AFT Pharmaceuticals
and the Gillies McIndoe Research Institute is an exciting opportunity for the university.
“Partnerships with companies like AFT Pharmaceuticals are essential for realising a
technology’s full potential. AFT has the networks, skills, and resources to make the most
of a potentially life-changing medicine like this, and it is exciting to partner with them
on this journey.”
Dr Swee Tan, Founder and Executive Director of the Gillies McIndoe Research Institute
says: “The discovery of the stem cell origin and the involvement of the renin-
angiotensin system by our team and collaborators underscores a potential paradigm
shift in the treatment of strawberry birthmarks.
“We are looking forward to working with AFT and Massey Ventures to bring to the
market an effective, non-invasive and safe topical treatment that can benefit
children affected by this condition.”
AFT has previously conducted clinical studies in several countries around the world
including Australia, the Czech Republic, Hungary, Jordan, Mexico, New Zealand,
Romania, Serbia, Slovakia, Spain, Taiwan, United Kingdom and the United States.
It has developed and out-licensed patented pharmaceutical products in over 100
countries and, to date, launched these products in 51 countries. It has also in-licensed
a significant number of products and has a number of existing R&D programmes.
For and on behalf of AFT Pharmaceuticals Limited by Malcolm Tubby, Chief Financial
Officer.
For more information:
Investors Media
Dr Hartley Atkinson Richard Inder
Managing Director The Project
AFT Pharmaceuticals Tel: +64 21 645 643
Tel: +64 9488 0232

About AFT Pharmaceuticals
AFT is a growing multinational pharmaceutical company that develops, markets, and
distributes a broad portfolio of pharmaceutical products across a wide range of
therapeutic categories which are distributed across all major pharmaceutical
distribution channels: over the counter (OTC), prescription and hospital. Our product
portfolio comprises both proprietary and in-licensed products, and includes patented,
branded, and generic drugs. Our business model is to develop and in-license products
for sale by our own dedicated sales teams in our home markets of Australia and New
Zealand and to out-license / distribute our products to local licensees and distributors

AFT Pharmaceuticals Limited,
Level 1, 129 Hurstmere Road, Takapuna, Auckland 0622, New Zealand
Incorporated in New Zealand ARBN:
ARBN 609 017 969 investor.relations@aftpharm.com

to over 125 countries around the world. For more information about the company, visit
our website www.aftpharm.com
.