Back To: Home

CLICK HERE FOR WHAT'S NEW IN:
 




 

Avexa, Progen agree to merge
January 2009
SHARING OPTIONS:

BRISBANE, Australia—Biotechnology companies Progen Pharmaceuticals Ltd. and Avexa Ltd. recently announced the signing of an exclusive and binding merger implementation agreement, under which Progen proposed to shareholders an AUD$20 million share buyback option, to be completed prior to the merger. A key focus for the new company will be the continued development of the Phase III drug apricitabine (ATC), a new antiretroviral drug for the treatment of HIV-infected patients. ATC is one of only two new HIV therapies in Phase III clinical trials worldwide.

"This merger not only gives the combined company sufficient financial resources to fund Avexa's Phase III study with ATC, it also provides a much broader pipeline for both sets of shareholders," said Julian Chick, CEO of Avexa. "We will not be the first company to jointly harness the therapeutic areas of oncology and infectious disease, as Gilead Sciences, Ardea Biosciences, and Anadys have similar synergistic strategies." DDN

Back



PAGE UTILITIES


CONTACT US
DDNEWS
Published by Old River Publications LLC
19035 Old Detroit Road
Rocky River, OH USA 44116
Ph: 440-331-6600  |  Fax: 440-331-7563
 
© Copyright 2019 Old River Publications LLC. All righs reserved.  |  Web site managed and designed by OffWhite.