Austcancer's Galenica acquisition finalised

By Renate Krelle
Wednesday, 23 June, 2004

Australian Cancer Technology ("AustCancer") (ASX:ACU) has finalised due diligence on its US$5 million acquisition of Alabama-based vaccine developer Galenica Pharmaceuticals.

The acquisition is now subject only to the approval of AustCancer shareholders at an extraordinary general meeting on July 19th. Once approval is given, Galenica founder Dr Dante Marciani will join AustCancer and continue to run the business. Privately-financed Galenica is developing three families of semi-synthetic immune enhancers -- also known as adjuvants -- which are used as therapeutics or as vaccines. The company has compounds in two Phase I and one Phase I/II clinical trial in US cancer centres.

Yesterday, Galenica announced an agreement with New York's Memorial Sloan-Kettering Cancer Centre to evaluate the company's immune-enhancer GPI-0100 in several Phase II clinical trials.

Related News

Oxytocin analogue treats chronic abdominal pain

Researchers have developed a new class of oral painkillers to suppress chronic abdominal pain,...

'Low-risk' antibiotic linked to rise of dangerous superbug

A new study has challenged the long-held belief that rifaximin — commonly prescribed to...

Robotic hand helps cultivate baby corals for reef restoration

The soft robotic hand could revolutionise the delicate, labour-intensive process of cultivating...


  • All content Copyright © 2024 Westwick-Farrow Pty Ltd