>>AUSTIN, Texas, June 6 /PRNewswire-FirstCall/ -- Introgen Therapeutics, Inc. (Nasdaq: INGN - News) announced today that its management has been authorized to take steps to effect a dual listing for the company on both the NASDAQ and London Stock Exchange (LSE).
The LSE listing decision reflects Introgen's ongoing discussions with potential international distribution partners, including European entities, as well as the expansion of its European investor base. In December 2004, Introgen placed shares with European institutions to increase its already significant European investor base. Introgen's first underwritten offering in 1997 was sold exclusively to European institutions.
In addition, the Company recently announced that it won an important and final European Patent Office case related to its p53 tumor suppressor therapy. The patent ruling results in a clear path to commercialization of several of Introgen's product candidates in Europe that utilize p53 as an active component, including ADVEXIN®, INGN 225, INGN 234 and INGN 402.
"A listing on the London Stock Exchange represents the next step in a series of actions that Introgen plans to take to leverage its assets on a global basis -- particularly in Europe and Asia. ADVEXIN, as well as our other product candidates, represent first-in-class products aimed at treating cancer. We want to maximize shareholder value with optimum commercial strategies around the world," said David Nance, Chief Executive Officer of Introgen. "We are building a presence in Europe, having conducted some of our trials here and worked with European regulatory authorities on the global registration program for ADVEXIN. In addition, we have developed a strong global patent portfolio. We believe that a listing on the LSE demonstrates our commitment to facilitating investment in Introgen by European investors, as well as in developing a stronger European presence for the company."<<
Seems a bit cart before horse, but whatever, as long as does't cost too much.
Cheers, Tuck |
