What are they up too?Sydney - Monday - November 17: (RWE...

What are they up too?

Sydney - Monday - November 17: (RWE Australian Business News) -
Progen Pharmaceuticals Ltd (ASX:PGL) today announced its wholly-owned
biopharmaceutical manufacturing business, PharmaSynth, was for sale.
Progen spun out its biopharmaceutical manufacturing division
into PharmaSynth in July. This decision was made so Progen could focus
on drug development.
It is expected that any buyer of the business will be engaged by
Progen to assist in the technology transfer of PI-88 raw materials
manufacturing to any licensee.
PharmaSynth has been successful in winning additional external
manufacturing contracts and is currently profitable.
The PharmaSynth team, led by CEO Mr Les Tillack, has more than
15 years of contract manufacturing experience in the development and
manufacture of biopharmaceutical material for phase 1 to phase 3
clinical trials and the production of veterinary products for commercial
sale.
PKF Transaction Services had been engaged to manage this sale.