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2007 HighlightsJanuary 2007Domantis sale completion - the sale of the investment in Domantis Limited realises over $176 million, a greater than four-fold return on investment, and generates a net profit of $136.1 million.Granted US patent - covering development and work with Evibodies™, small antibody-like proteins for use as therapeutics or diagnostics. February 2007Technology collaboration with Circadian-backed Vegenics Ltd. - a non-exclusive deal to apply Arana’s technology to help develop an anti-cancer antibody.March 2007New antibody platform Synhumanisation® developed - patent-protected technology which uses a novel method of re-combining human and non-human sequences to convert antibodies of non-human origin to antibodies with about 95% human sequence.Successful completion of first project with GlaxoSmithKline - concludes the project which used the protein optimisation technology EvoGene™ to develop improved versions of a protein product from the GSK pharmaceutical pipeline. April 2007Strengthens board with new appointment - Dr Lincoln Chee joins board as a non-executive director.May 2007Pipeline boosted with $6.6 million government grant - awarded through the Australian Government’s Pharmaceuticals Partnerships Program (P3), the grant recognises Australian companies that demonstrate high-quality pharmaceuticals R & D in Australia, the development of medicines for global markets and partnerships and collaborations between multinational firms and local companies.Starts clinical trials of ART621 - the Phase I trial of lead compound ART621 marks the first administration to humans of a domain antibody derived product. Announces merger with EvoGenix - merger to form one of the strongest biotechnology companies in Australia. June 2007Appoints Chief Medical Officer - Dr David Fuller appointed to support the company’s plans to rapidly advance the clinical trial program of lead anti-inflammatory compound ART621.Establishes International Scientific Advisory Board - world-class advisory board established to provide advice and guidance on the company’s scientific strategy and direction. August 2007Merger approved - EvoGenix shareholders vote in favour of merger to form an internationally significant company.Board changes - as part of the merger, Chris Harris and Robin Beaumont join the Board, with Martin Kriewaldt and Till Medinger retiring as directors. Second project with GlaxoSmithKline - proprietary EvoGene™ technology applied to the optimisation of a further protein selected from the GSK product pipeline. October 2007Agreement with AVEO Pharmaceuticals Inc. - enters non-exclusive research and commercialisation agreement in which AVEO has access to Superhumanisation™ technology.Completes Phase I Trial of ART621 - Phase I trial of lead compound for rheumatoid arthritis ART621 completed. Data from the trial, completed in 30 healthy volunteers, indicates that ascending single doses of ART621 administered intravenously and subcutaneously were well tolerated. November 2007Board changes announced - Chairman Mel Bridges retires and Robin Beaumont is appointed Interim Chairman. Dr George Jessup is appointed to the board.Arana name change approved - shareholders vote in favour of official name change to Arana Therapeutics Limited. The company’s ASX code changes to “AAH”. Record net profit announced - Arana Therapeutics announces net profit of $133.4 million for the year ended 30 September 2007 and a cash balance of $169.0 million. New business strategy announced - Arana announces new business strategy to expand and accelerate the development of its internal clinical pipeline. |
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