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SYDNEY, July 17 (Reuters) Australia's CSL Ltd. the world's top maker of human plasma products, bid A$108 million ($81 million) for Zenyth Therapeutics Ltd. as it seeks potential cancer and asthma treatments.

CSL valued its offer at A$0.86 a share for Zenyth, a premium of 59 percent to Friday's closing price of A$0.54.

Zenyth is working on treatments for cancer, arthritis and asthma.

''They're all potential blockbusters but all potential projects to fail,'' CSL Chief Executive Brian McNamee told reporters by telephone.

''This is an activity for people with deep pockets and patience.'' CSL recently licensed Gardasil, the world's first cervical cancer vaccine, to Merck &Co. Inc. and won U.S.

approval earlier this year. McNamee has said CSL could earn $100-$200 million a year pre-tax in royalties from the vaccine.

Zenyth has A$48 million in cash but its products are at least seven years away from market. Two treatments are soon to go to clinical trial, though just 10 percent to 15 percent of trialled products reach the market, McNamee said.

CSL said Zenyth's protein-based biological medicines for serious diseases were a good match with its own work.

''Zenyth's portfolio of pre-clinical research and development projects, while at a relatively early stage, sits well within our field of research in cancer, immunology and inflammation,'' said CSL Chief Scientist Andrew Cuthbertson.

The offer comprises cash of A$0.82 a share plus one share in Avexa Ltd., a biotechnology spin-off from Zenyth, for every six shares held in Zenyth. Zenyth's directors have recommended the bid.

CSL shares were down 1.5 percent at A$50 in morning trade in a broader market down 0.8 percent. Zenyth shares rose 54 percent to 82 cents.

($1=A$1.33) Reuters DKS VP0730