HGN 0.00% 67.0¢ halcygen pharmaceuticals limited

the new darling of asx is a week old

  1. 4,996 Posts.
    BILLIONAIRE pokies king Bruce Mathieson is branching into the fight against cancer.

    Mr Mathieson has invested heavily in five biotechnological companies developing drugs and treatments for illness.

    One, Melbourne-based Halcygen Pharmaceuticals, finished its second day on the Australian stockmarket yesterday valued at 53c a share.

    Ten months ago, Mr Mathieson bought two million Halcygen shares at 15c as a seed investor -- earning him a tidy profit of about $760,000 in just two days of trading.

    "I've invested in quite a few of these companies . . . and they're doing wonderfully, wonderfully well," he said yesterday.

    "They've got a drug that is going to be very good for cancer patients. It's looking very, very good.

    "I'll certainly start taking a much bigger interest in those sort of things."

    Mr Mathieson has joined friend and former state Nationals MP Ron Best as one of five Halcygen Pharmaceuticals directors.

    Mr Best is married to deputy Liberal leader Louise Asher.

    Halcygen has entered into an agreement with Mayne Pharmaceuticals for the global rights to two cancer drugs.

    A company spokesman said it aimed to place its products on pharmacy shelves by early 2009.

    But Mr Mathieson says he's not about to turn his back on pokies.

    "I still love my pubs," he said.

    "I just see this as something very interesting and it's good to put money into something that is going to benefit people."

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