Ann: Progen Subsidiary Secures New Manufacturing , page-2

re: Ann: PGL: Progen Subsidiary Secures New M... Dear All,

As there have not been any posts, none of you think this announcement is significant.

I beg to differ and if i can may i help fill in the dots.

Pharmasynth is a large Pharma toll manufacturer in Darra Qld, it is TGA and APVMA approved and carries GMP accreditation. This is why Phosphagenics imho will be commencing using its services.

As has been discussed here many times Phosphagenics has its own TPM reactor in Melbourne, however i am fairly certain it would not be GMP approved and as such they would have to take the TPM somewhere else to be GMP manufactured.

So IMHO what is happening here is that they are gearing up for much more product to be manufactured (GMP) for the Elixia but more importantly the OXycodone patch.

As such this is a milestone announcement for this little company, it is apparent to me that setting up toll manufacture of GMP product points towards a significant boost in the requirement of GMP grade TPM

Pharmasynth would not take on a tiny order as the spooling up costs a lot of time, it may be fair to say that we are in the throws of becoming a Pharma company from the larvae of a Biotech coy.

To me, this is the most exciting announcement this year. And from this you can be sure that the 3m ramp up is part of it, they will need large quantities of GMP TPM for the trials.

Investors here should start to get excited.

Cheers


BSW