Very quiet now. Look like the Wangs want a holding. It's never...

Very quiet now. Look like the Wangs want a holding. It's never ending.

Sydney - Monday - May 18: (RWE Aust Business News) - Progen
Pharmaceuticals (ASX:PGL) has entered into a binding terms sheet for an
exclusive licence agreement which provides for the global licensing of
its anti-cancer product, PI-88, and progresses commercialisation of the
product.
Progen maintains an option to commercialise PI-88 in Australia
and to participate directly in a co-development structure with the
clinical development, registration and commercialisation of PI-88 in
Taiwan while its partner pursues the development and commercialisation of
PI-88 elsewhere independently.
Finalisation of the partnering arrangement is subject to the
completion of negotiations of the licensing agreement, incorporating the
key terms set out in the terms sheet.
Justus Homburg said the partner is based in North America with
strong ties to Asia, the latter being a primary target for PI-88,
providing significant value to this partnership.
"The arrangement has the potential to expand the market
opportunity beyond what we could do on our own or with other potential
partners whom we have been in discussions with," he said.
"The arrangement is expected to reduce the costs involved in
developing and then marketing our product and provides us with greater
financial opportunity.
"The milestone and royalty payments which can be provided through
the partnering arrangement will help fund the progression of our broader
product pipeline, including the 500 series, the epigenetics
technologies and the cell proliferation compounds."