ChemGenex restructures, focuses on cancer drugs

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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