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Cytopia Vows Fight To Keep Avexa From Progen In All-Australia Battle

This article was originally published in PharmAsia News

Executive Summary

Australia's Cytopia is urging shareholders of Avexa to vote for its firm to merge with the biotech in late March to stave off any new hostile takeovers. Cytopia CEO Andrew Macdonald said he is not through yet in his battle to keep Progen Pharmaceuticals from trying to obtain control of Avexa, and urged shareholders to ignore Progen's promise it is ready to begin commercializing Avexa's PI-88 drug and already is in talks with Taiwain regulators. Cytopia said in an interview the Progen assertion was just a smokescreen. (Click here for more
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