ACU - Biotech - any holders

  1. 390 Posts.
    Does anyone have any views on this stock. Has moved down to around 16c and seems good value with Phase II clinical trials currently underway at St. Vincents Hospital Sydney. Also ex Peptech CEO has joined the team announced in March 02.


    AUSTRALIAN CANCER TECHNOLOGY LIMITED 2002-03-18 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    Australian Cancer Technology Limited ("Aust Cancer") is pleased to
    advise that Dr Roger Aston has been appointed Executive Chairman of
    the Company.

    Roger Aston is an experienced Executive in the International
    Biotechnology Industry with an outstanding record of success in
    science (co-author of the Peptech TNF patent) and in business having
    served as Chief Executive of both Peptech and Cambridge Antibody
    Technology, one of the UK's most successful biotech companies. Roger
    also served as Chairman of Cambridge Drug Discovery and founded
    pSiMedica, a UK biomaterials company.

    Dr Aston brings 20 years of experience and a successful track record
    in commercialisation of biotechnology to the Company. He was
    previously Director of R&D at Aust Cancer and has been instrumental
    in the Company acquiring its current portfolio of potential cancer
    drugs.

    Dr Aston said 'I am delighted to assume the Chair at Aust Cancer
    after twelve months of achievement since the Company entered the
    biotechnology industry. Our lead product, the Pentrix(TM) anti-cancer
    vaccine, is progressing to a critical stage of its human trials
    following successful phase 1a trials at St Vincents Hospital, Sydney
    earlier this year. Phase 1b/2a trials are now underway in which
    patients receive four doses of Pentrix(TM) over three months. I
    believe the innovative approach of Pentrix(TM) to cancer treatment
    will be attractive to the global Pharmaceutical industry and we hope
    the trials will deliver the results we need to secure a partnership
    during this year.'

    'A further dimension to Aust Cancer is its relationship with London
    listed BioFocus Plc, named AIM Technology Company of 2001', Dr Aston
    said. 'Through two joint ventures we are accessing cutting edge
    technologies to develop a new breast cancer drug and a drug to
    enhance the effectiveness of radiotherapy and some chemotherapies. In
    addition, BioFocus has agreed to subscribe for approximately 5% of
    the company's share capital at prices up to 32.5 cents.'

    Current and foundation Chairman, Mr Frank Daly, has retired from the
    Board. The Board expresses its sincere thanks for his contribution to
    the company.

    For more information on the Company visit www.austcancer.com.au

    Please direct enquiries to:

    A Cowden
    MANAGING DIRECTOR
    Telephone: (61 8) 9486 4622

    Information on the Pentrix(TM) clinical trials and patient
    recruitment can be obtained from the St Vincent's Hospital website.
    Interested parties are directed to www.stvincents.com.au/p53.
 
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