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ChemGenex Of Australia Seeks Capital To Bolster Key Licensing Deal

This article was originally published in PharmAsia News

Executive Summary

Australia's ChemGenex plans to bolster its negotiating position with multinational pharmaceutical companies by raising enough capital to give it leverage in a licensing deal. At stake is ChemGenex's leukemia drug omacetaxine nearing completion of Phase III trials. CEO Greg Collier said the firm's intention is to get as much value for the drug as it can while pursuing licensing deals, negotiations for which he said are going well and would enable ChemGenex to retain some rights. The firm expects to submit its application for U.S. approval by mid-year. (Click here for more
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