ChemGenex Pharmaceuticals, which recently reported positive data on the experimental leukemia therapy Ceflatonin, says it is restructuring the company so it can focus on its cancer therapies. The company's wholly-owned Autogen Research, which holds its metabolic disease assets, is being renamed Verva Pharmaceuticals. Verva will be demerged from ChemGenex and merged with Adipogen Pharmaceuticals in a stock deal. Following a capital raising, Verva Pharmaceuticals will seek a listing on the ASX in early 2008.
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