Proactive Investors - Run By Investors For Investors

Progen Pharmaceuticals locks in cancer drug licence deal with Medigen Biotechnology

Progen Pharmaceuticals locks in cancer drug licence deal with Medigen Biotechnology

Progen Pharmaceuticals (ASX: PGL, OTC: PGLA) has finalised a deal with Taiwan’s Medigen Biotechnology Corporation for the licensing of Progen’s cancer drug, PG545.

The two companies have now executed a licence agreement for the development and commercialisation of the drug for the prevention and treatment of hepatocellular carcinoma and non-oncology indications globally.

Medigen is listed on the Taiwanese exchange and is focused on developing new therapeutics for liver diseases and cancers.
Progen's collaboration with Medigen goes far back, with Progen having licensed the worldwide oncology rights of PI-88 to Medigen in 2010.

Under this new licencing agreement, Progen will retain the rights for all other oncology indications for PG545.

The company has already received a A$400,000 upfront payment and will receive further milestone payments from Medigen during the development phase and royalty payments from sales.

Progen Pharmaceuticals held $4.2 million in net assets and cash at the end of December 2012.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

View full TDL profile View Profile

TBG Diagnostics Timeline

December 07 2015

Related Articles

scientist in lab
December 18 2018
VAL401 is ValiRx’s most advanced compound, with earlier trial results suggesting it can improve quality of life and chances of survival of lung cancer patients
August 22 2018
The group's products are extracted from flaxseeds, a plentiful and non-animal source of omega-3.
January 03 2019
The cancer detection device is on track to finish a key clinical study in the first quarter of 2019, but in the meantime, it has shown promise in detecting abnormalities in unborn children

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use