Progen Pharmaceuticals Limited, a biotechnology company, is engaged in the discovery, development, and commercialization of small molecule therapeutics primarily for the treatment of cancer. The company’s primary focus is on dual mechanism anti-angiogenesis and anti-metastatic oncology products, which control tumor size and spread. Its angiogenesis products have been developed to target various proteins, including VEGF and FGF-2, which bind to a complex sugar called heparan sulfate. Products PI-88 PI-88 is a carbohydrate-based small-molecule, which is believed to work through two mechanisms. Firstly, it inhibits the enzyme heparanase, which plays a primary role in tumor spread and invasion through surrounding tissues. Secondly, PI-88 exerts an anti-angiogenic effect by inhibiting the interaction between growth factors, heparan sulfate and cellular receptors. PI-88 is licensed to a Taiwan-based company for all oncology indications seeking global registration. The company has a license and collaboration agreement has been executed with Medigen Biotechnology Corporation (Medigen) for the development and commercialization of muparfostat worldwide. The agreement grants Medigen worldwide and sub-license rights for the commercialization of muparfostat for the therapeutic and prophylactic treatment of cancer. PG545 The company’s primary candidate, PG545, would be entering a Phase 1 clinical trial in 2013 to test the safety and tolerability by intravenous administration in advanced cancer patients. PG545 is a heparan sulfate mimetic and its efficacy as an anti-tumor agent is based on a dual mechanism critical to the growth and progression of solid tumors, including angiogenesis and metastasis. Heparanase Discovery Program The Heparanase discovery program is targeted towards the identification of molecules that selectively inhibit the enzyme heparanase. PharmaSynth Pty Ltd (PharmaSynth) PharmaSynth, a subsidiary of the company, provides contract pharmaceutical manufacturing development services to the biotechnology industry; and manufactures material for phase 1 to phase 3 clinical trials, as well as manufactures veterinary and animal health products. History The company was founded in 1989. It was incorporated in 1989 as Almagest Pty. Ltd. in the state of Queensland, Australia. The company changed its name to Progen Industries Pty. Ltd. in 1990 and then to Progen Industries Limited in 1991. Further, the company changed its name to Progen Pharmaceuticals Limited in 2007.
progen pharmaceuticals ltd
(PGL:Australian Stock Exchange Ltd)
2806 Ipswich Road
Darra, QLD 4076
Phone: 61 7 3273 9133
Fax: 61 7 3375 1168www.progen-pharma.com
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