All go for Progen

JUNE 2010

EMBATTLED drug developer Progen Pharmaceuticals (PGL) has been granted a European patent for the preparation and use of its cancer therapeutic Muparfostat (PI-88).

Progen CEO Sue MacLeman says the patent grant will give the company greater coverage in a major pharmaceutical market.

Progen has also announced it plans to sublicence the technology to Taiwanese company Medigen Biotech Corp.

Amid board restructures and uncertainty for the biotech’s future, PGL shares have fallen by around 40 per cent in the last 12 months.

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