Progen Drives Technology Platforms Forward

< BACK TO INFORMATION TECHNOLOGY starstarstarstarstar   Science - Information Technology Press Release
4th April 2009, 03:27am - Views: 464
ABN 82 010 975 612

PO Box 2403 Toowong
Queensland 4066 Australia
Telephone: + 61 7 3842 3333
Facsimile: + 61 7 3720 9624
www.progen-pharma.com



Progen drives technology platforms forward

Brisbane, Australia, 2 April 2009: Progen Pharmaceuticals Limited ("Progen", ASX: PGL;
NASDAQ:PGLA) continues to advance anti-cancer drugs following the resolution of recent
corporate issues at the Shareholder Meeting held on Friday 27 March 2009.
The company's CEO, Justus Homburg, said "Despite the events of the past year, Progen's
research and clinical development teams have continued to advance our portfolio of anti-
cancer drugs."
Mr Homburg said the development of the company's drug portfolio was tracking well, with
the completion of recruitment of the PI-88 Phase 2 trial in metastatic melanoma, the
continuation of excellent recruitment in the two Phase 1 trials for PG11047, and PG545,
PG562, PG11122 and PG11144 progressing through preclinical development and
encouraging results coming from the small-molecule heparanase inhibitor discovery program.

"All of us at Progen are excited about the future and are convinced that the strategy we
outlined on 9 March 2009 will deliver long-term shareholder value.

"While we anticipate resources to be tight, we expect to be in a sound financial position to
be able to drive forward key components of our technology platforms," he said.

Mr Homburg said that while in the past there have been distinct shareholder groups with
different objectives, the opportunities available to all shareholders over the coming weeks
would create a solid foundation for the company's future.
"If the majority of our shareholders were only interested in cash or wanted a board
committed to a very different path, then they could have changed the outcome last week.

"Clearly, a large portion of our shareholder base supports our strategy of focusing resources
on developing PI-88 in Taiwan and taking forward our other compounds.
"Shareholders have shown support for our strategic plan and we are moving forward with
this focus," Mr Homburg said.

About Progen
Progen Pharmaceuticals Limited is a biotechnology company committed to the discovery,
development and commercialization of small molecule pharmaceuticals primarily for the
treatment of cancer. Progen has built a focus and strength in anti-cancer drug discovery
and development. Progen targets the multiple mechanisms of cancer across its three
technology platforms of angiogenesis, epigenetics and cell proliferation. Progen has
operations in Australia and the United States of America. www.progen-pharma.com





For more information:
T Justus Homburg
Chief Executive Officer
+61 7 3842 3333

This release contains forward-looking statements that are based on current management expectations. These
statements may differ materially from actual future events or results due to certain risks and uncertainties, including
without limitation, risks associated with drug development and manufacture, risks inherent in the extensive regulatory
approval process mandated by, amongst others, the United States Food and Drug Administration and the Australian
Therapeutic Goods Administration, delays in obtaining the necessary approvals for clinical testing, patient recruitment,
delays in the conduct of clinical trials, market acceptance of PI-88, PG11047, PG545, PG562, PG11122, PG11144 and
other drugs, future capital needs, general economic conditions, and other risks and uncertainties detailed from time to
time in the Company's filings with the Australian Securities Exchange and the United States Securities and Exchange
Commission. Moreover, there can be no assurance that others will not independently develop similar products or
processes or design around patents owned or licensed by the Company, or that patents owned or licensed by the
Company will provide meaningful protection or competitive advantages.









news articles logo NEWS ARTICLES
Contact News Articles |Remove this article