Here are 3 ASX biotech shares with blockbuster growth potential

The CSL Limited (ASX:CSL) share price has come a long way in the last decade. Could one of these smaller biotechs follow in its footsteps?

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I think the Australian share market is home to a number of exciting biotech shares and none more so than $56 billion biotech-giant CSL Limited (ASX: CSL). In my opinion CSL is easily one of the highest quality businesses on the ASX and a fantastic buy and hold investment.

But it isn’t the only biotech share worth taking a closer look at. Whilst it may be a touch too soon for an investment, here are three growing biotech shares that I think should be on investor’s watch lists:

Bionomics Ltd (ASX: BNO)

It has been a great 12 months for shareholders of this explosive biotech company. Since this time last year its share price has climbed 25%. Investors appear to be optimistic that the company is onto a winner with its BNC210 drug. The drug has been designed to treat Generalized Anxiety Disorder, a market estimated by the company to be worth up to US$18.2 billion by 2020. Whilst it is early days, recent trials have been very encouraging. It has outperformed the current standard of care Lorazepam without any signs of sedation, memory impairment, addiction, or loss of motor co-ordination.

Cynata Therapeutics Ltd (ASX: CYP)

Cynata is an exciting stem cell and regenerative medicine company with the ability to produce an unlimited number of stem cells at a low cost through its Cymerus technology. Japan-based Fujifilm recently bought a 10% stake in the company as part of its push to become a world leader in stem cell supply and technology. As a result, the two parties will collaborate on the further development and commercialisation of its therapeutic MSC product CYP-001. This product will be used to treat graft-versus-host-disease. Fujifilm has the option to an exclusive worldwide license to market and sell the product in the future. Definitely one to keep a close eye on in my opinion.

Opthea Ltd (ASX: OPT)

Opthea is a developer of novel biologic therapies for the treatment of eye diseases. In the last 12 months the Opthea share price has risen an astonishing 120% thanks largely to the progress the company has made with its leading drug candidate OPT-302. The novel trap therapy is used for the treatment of wet age-related macular degeneration. Whilst a commercial launch is still some way off, clinical trials have been positive thus far. In fact, just today the company announced that it has received positive feedback from European regulatory agencies. A phase 1/2A clinical trial of 51 patients with wet AMD is expected to conclude by the end of the month.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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