European patent for cancer drug
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MELBOURNE, June 28 AAP
June 28 2010, 2:25PM
Progen Pharmaceuticals Ltd says a European patent has been granted for the preparation and use of sulfated oligosaccharides which includes muparfostat (PI-88).
Progen has an exclusive worldwide license to the technology.
Muparfostat is a cancer drug that inhibits the growth of new blood vessels and also inhibits the spread of cancer to other sites.
"Europe is a major pharmaceutical market, and the granting of this patent provides additional coverage in this important market," Progen chief executive Sue MacLeman said in a statement on Monday.
Progen shares were 1.5 cents higher at 40 cents at 1420 AEST on Monday.
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