Great news for all concerned & little buyer interest.
Company Announcements All Ords:
Clinical Trial Approved for PI-166 - Liver Cancer Therapy
PROGEN INDUSTRIES LIMITED. 2002-10-29 ASX-SIGNAL-G
HOMEX - Brisbane
+++++++++++++++++++++++++
Please find attached the Company announcement that Progen has
received hospital ethics committee approval for its new cancer
therapy PI-166 to be investigated in a Phase I liver cancer trial.
The trial will be conducted at the St George Hospital in Sydney,
Australia.
M McColl
COMPANY SECRETARY.
PROGEN RECEIVES APPROVAL FOR HUMAN CLINICAL TRIAL OF POTENTIAL LIVER
CANCER THERAPY
Progen Industries Limited (NASDAQ: PGLAF) (ASX: PGL) has received
hospital ethics committee approval for its new cancer therapy PI-166
to be investigated in a Phase I liver cancer trial.
The trial will be conducted at the St George Hospital in Sydney,
Australia. Professor David Morris of the University of New South
Wales Department of Surgery will be the chief investigator.
The primary objective of this Phase I trial will be to investigate
the safety and tolerability of PI-166 in patients with advanced liver
cancer (unresectable primary hepatocellular carcinoma).
"We are very excited to have obtained approval to commence this trial
just after signing the licensing agreement for PI-166 with Unisearch
in September. A lot of combined effort has been required to achieve
this outcome, and this is a positive sign of a strong emerging
relationship between Progen and our collaborators at UNSW and
Unisearch," said Progen's Managing Director Lewis Lee.
PI-166 is a small organic compound with specific avidity to liver
cancer cells that has shown promising results in animal models of
liver cancer. "PI-166 complements our lead cancer drug PI-88 which is
currently in multiple trials in patients with multiple myeloma and
advanced cancers. It adds significant breadth to our drug development
capability," he added.
ABOUT HEPATOCELLULAR CARCINOMA (LIVER CANCER]
Over 400,000 new cases of primary liver cancer are diagnosed
worldwide each year and existing treatment options are of limited
benefit to most patients. Many tumours are inoperable by the time
they are diagnosed and furthermore, they are usually resistant to
available drug treatments.
Liver cancer is often a long-term consequence of chronic liver
disease from hepatitis B and C infection or alcohol abuse. It is the
fifth most common cancer in the world due to the high incidence of
hepatitis in Asia, but is a leading cause of cancer morbidity and
death in countries most afflicted. Australia has seen a 50% increase
in mortality in the last 10 years.
Despite intense research in this area little improvement has been
gained in treatment outcomes, and the survival statistics reveal a
huge unmet clinical need.
The estimated market potential for an affordable treatment for
primary liver cancer is US$500 million.
PROGEN ENQUIRIES:
Lewis Lee
MANAGING DIRECTOR,
Progen Industries Limited
Tel: ++61 7 3273 9100
PATIENT ENQUIRY LINE
Email: [email protected]
Tel: ++ 61(0)417 436 548 (Australia)
MEDIA ENQUIRIES;
Australia:
Kate Mazoudier, Monsoon Communications
Tel ++ 61 403 497 424
US:
Stephen Anderson, Six Sigma Group
Tel: ++ 1-415-776-6499
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