Progen Engages Burrill to Advance PI-88 Partnering Discussions
28 Junio 2005 - 12:28AM
PR Newswire (US)
Progen Engages Burrill to Advance PI-88 Partnering Discussions
BRISBANE, Australia, June 28 /PRNewswire-FirstCall/ -- Progen
Industries Limited (ASX:PGLASX:Nasdaq:ASX:PGLAF) announced today
that they have engaged Burrill & Company, LLC (Burrill), to
expedite a partnering transaction for the Company's lead
anti-cancer product PI-88. Burrill is a San Francisco based global
life sciences merchant bank with extensive experience in assisting
companies in achieving their strategic partnering initiatives. The
appointment of Burrill will accelerate and augment the Company's
partnering initiatives. Over the past 18 months a number of large
pharmaceutical and biotechnology companies have expressed interest
in Progen's PI-88 family of therapeutic compounds, this interest
has been further renewed on the back of the encouraging data
presented at ASCO. Burrill will work with Progen to progress the
partnering discussions with these companies, as well as others
identified by Burrill, to achieve this transaction with the right
partner, on the most competitive terms and with the appropriate
attached value. Burrill has extensive networks within the global
Biotech industry and a solid track record in closing such
partnering transactions. The appointment of Burrill is a
significant step in the licensing process. It will ensure the
Company assesses all opportunities to maximise the overall deal
terms and the product has the best chance of getting to market in
the most time efficient manner. Contact: Progen Information: Sarah
Meibusch Director, Business Development Progen Industries Limited
Ph: +61 7 3273 9100 DATASOURCE: Progen Industries CONTACT: Sarah
Meibusch, Director, Business Development of Progen Industries
Limited, , +61-7-3273-9100
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