ASX listed Agenix appoints Weston as new Chairman
Brisbane based, publicly listed bio-tech, Agenix Limited (Agenix) [ASX: AGX, NASDAQ OTC: AGXLY] has appointed Nick Weston of Melbourne based law firm Nicholas Weston to its board of directors as Chairman. The ASX press release is available HERE.
Agenix was listed on the Australian Stock Exchange in October 1987 and has infrastructure in Brisbane, Singapore, Shanghai and the United States of America. Through its subsidiaries, Agen Biomedical and Agenix Biopharmaceutical (Shanghai), the company has a strategic goal of building and developing a pipeline of therapeutic and imaging products.
Agenix wholly foreign owned enterprise (WFOE), Agenix Biopharmaceutical (Shanghai) is presently resolving issues in relation to the April 2007 purchase of the businesses of two associated Chinese life sciences companies. One, Shanghai Rui Guang Bio-Pharma Development Co., Ltd, is a biopharmaceutical company which has a pipeline of anti-viral drugs in development. Its lead product candidate, a hepatitis B virus drug, has successfully completed Phase III clinical trials in China and received China State Food and Drug Administration new drug approval on 30 September 2007. Sales of You He Ding in China are estimated to grow to in excess of RMB320 million per annum. The company has a deep pipeline of potential anti-viral drugs in development. The second, Shanghai Yi Sheng Yuan Pharmaceutical Co., Ltd, has a GMP certified manufacturing facility which has the capacity to produce 150 million tablets per annum (based on a 5-day working week at 8 hours per day).
Agen Biomedical’s lead candidate is its high-technology blood clot-imaging agent, ThromboView®, which has been undergoing human clinical trials in the United States, Canada and Australia. ThromboView® uses radiolabelled antibodies to locate blood clots in the body, and could revolutionise the global clot diagnostic imaging market. Agen reported successful results of a Phase II deep vein thrombosis trial in February 2007. Agen estimates that successful Phase III trails and commercialization of ThromboView® is likely to result in peak end user sales of in excess of US550 million per annum.
ThromboView® is a registered trade mark of Agen Biomedical Ltd. ASX company details HERE.
Agenix website HERE.
