Maybe they'll want to merge with SCS Pty.
<g>
Friday November 10, 4:45 pm Eastern Time
Press Release
SOURCE: PPL Therapeutics Inc
PPL Therapeutics' Technology Platform is to Be
Extended Into Diabetes Treatment; Creation of a New
Subsidiary Company With Potential To Be Separately
Listed; Board Changes
EDINBURGH, Scotland, Nov. 10 /PRNewswire/ -- The following has been issued by PPL
Therapeutics plc:
* PPL's technology platform is to be extended into diabetes treatment
* Creation of a new subsidiary company, that could be separately listed in
time.
* Product Development Director role created to focus on driving products
to market.
* New Business development director joins main Board.
PPL Therapeutics is applying those elements of its technology platform that are involved in ethical (non-embryonic) stem cell
research, initially to a treatment for diabetes. A new subsidiary company, focused on this work, will be formed which could be
separately listed at some point in the future.
Furthermore, in order to create additional management focus to assist in driving its lead protein products to the market, PPL
announces it is splitting the role of Commercial Director, currently held by Martyn Breeze, and will appoint Geoff Cook to the
main Board as Business Development Director.
Commenting, Dr. Ron James, Managing Director of PPL, said:
``Having secured a partner for our lead drug, AAT, PPL is now looking to further build its product pipeline. Part of this will be
based on the research we have been doing into the ethical production of stern cells which has the potential to lead to a range of
cellular therapies, one of which is insulin producing islet cells for the treatment of diabetes. This technology has significant
potential, which is currently largely unrecognised in terms of shareholder value. One way of realising this is to create a
subsidiary company that could be separately listed at the appropriate time.''
Dr. James continued:
``Now that a number of PPL's products are in the later stages of development, we are going to need additional resources to
ensure that focus and momentum is maintained. The restructuring of the board and the appointment of Geoff Cook as Business
Development Director is aimed at achieving this by giving us the depth of management to be able to split the Commercial
Director's role into business and product development.''
SOURCE: PPL Therapeutics Inc |
