asx ann plus some free advertising Must help push the price up today IMHO. From The Age.
Biotech firm hopeful on stroke drug
December 13, 2006 - 6:44PM
Biotechnology group Phylogica Ltd says research shows that its stroke drug can reduce brain damage after head injuries.
The research, in collaboration with University of Tasmania, shows the drug Phylomer Peptide PYC35T halved brain cell death in traumatic brain injury in animals.
Phylogica chief executive Stewart Washer said the company expected to finalise a pre-clinical deal for its stroke program within the next six months.
"Our Phylomer stroke drugs are currently being evaluated by a number of potential licensees and these results boost Phylogica's negotiating position," Dr Washer said.
Phylogica said there are no drugs on the market that can prevent the escalation of brain cell death that occurs after a stroke or traumatic head injury.
PYC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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