The most common ailments of aging are getting Melbourne-based Broadvector Limited attention.

Oz will soon have an access to the latest in prostate cancer treatment and hip replacement therapy.

Today after submitting a prospectus with the Australian Securities and Investments Commission, about 8.5 million will be floated by the biotechnology company.

The clinical development of a new prostate cancer therapy will be covered by the investment proposal and to improve the longevity of hip replacements will be a second therapy.

As baby boomers reach retirement stage, the demand for the two therapies is expected to rise strongly. Gene-directed enzyme therapies known as GDEPT are what Broadvector's twin technologies is focusing on.

Early to mid-stage prostate cancer will be treated by the technologies. With the new technologies, it is expected that there will be a decrease in the incidence of surgery and radiation side effects, such as incontinence and impotence.

According to Broadvector chief executive Andrew Bray, “'Broadvector has approval from the TGA and St Vincent's Hospital in Sydney to proceed with the Phase I clinical trial. We also have the big benefit of two eminent specialists in prostate cancer who will lead the trial.”