In brief: Benitec, Probiomics, Progen, Avastra
Monday, 23 May, 2005
Queensland Investment Corporation has ceased to be a substantial shareholder in Benitec (ASX:BLT), but millionaire Richard Pratt's Thorney Group has upped its holding in the company to 11.54 per cent.
Probiomics has abandoned its intention to list on London's Alternative Investment Market due to the "downturn in market conditions in the biotechnology and healthcare sectors both domestically and in the UK". As a consequence, Sir Victor Garland has resigned as chairman of Probiomics, to be replaced by Bryan Gardiner. Geoffrey Wild has also resigned as a director of the company, and Patrick Ford, a Sydney-based stockbroker with Taylor Collison, has been appointed in his place.
Progen Industries (ASX:PGL, NASDAQ:PGLAF) has begun a new Phase II clinical study of its lead anti-cancer product PI-88 as a first-line treatment for metastatic melanoma in combination with chemotherapy agent, DTIC (dacarbazine)
Dr Erich Odermatt has resigned from the board of Sydney medical device company Avastra (ASX:AVS).
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