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Progen Receives Nasdaq Notice Regarding Board Composition
Date:4/22/2009

focus and strength in anti-cancer drug discovery and development. Progen targets the multiple mechanisms of cancer across its three technology platforms of angiogenesis, epigenetics and cell proliferation. Progen has operations in Australia and the United States of America.

www.progen-pharma.com

    For more information:
    T Justus Homburg
    Chief Executive Officer
    +61 7 3842 3333

This release contains forward-looking statements that are based on current management expectations. These statements may differ materially from actual future events or results due to certain risks and uncertainties, including without limitation, risks associated with drug development and manufacture, risks inherent in the extensive regulatory approval process mandated by, amongst others, the United States Food and Drug Administration and the Australian Therapeutic Goods Administration, delays in obtaining the necessary approvals for clinical testing, patient recruitment, delays in the conduct of clinical trials, market acceptance of PI-88, PG11047, PG545, PG562, PG11122, PG11144 and other drugs, future capital needs, general economic conditions, and other risks and uncertainties detailed from time to time in the Company's filings with the Australian Securities Exchange and the United States Securities and Exchange Commission. Moreover, there can be no assurance that others will not independently develop similar products or processes or design around patents owned or licensed by the Company, or that patents owned or licensed by the Company will provide meaningful protection or competitive advantages.

1 Rule 5605(b)(1) requires each Company to maintain a majority of the board of directors comprised of independent directors.

2 Rule 5605(c)(2)(A) provides, in part, that each Company have an audit committee composed of at least three independent di
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SOURCE Progen Pharmaceuticals Limited
Copyright©2009 PR Newswire.
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