Performance Share Plan
January 14 2008 - 3:52AM
UK Regulatory
RNS Number:6831L
Arana Therapeutics Limited
14 January 2008
For Immediate Release 14 January 2008
Arana Therapeutics Limited
Performance share plan
Arana Therapeutics Limited, (AIM: AAHx ASX: AAH) (the "Company"), the Australian
biopharmaceutical company that uses superior technology to develop next
generation drugs that will improve the lives of patients with inflammatory
diseases and cancer has today announced that it had acquired 171,606 shares at a
cost of $199,139 in on-market transactions to fulfil allocations of shares to
certain employees under the rules of the performance share plan.
Arana performed at the 65th percentile in relation to the plan for the period 1
January 2005 to 31 December 2007, resulting in a 78.55% allocation to
participating employees.
About Arana Therapeutics:
Arana Therapeutics (ASX: AAH; AIM: AAHx) is an international biopharmaceutical
company formed through the merger of Peptech and EvoGenix in August 2007. The
company uses superior technology to develop next generation drugs that will
improve the lives of patients with inflammatory diseases and cancer.
Arana Therapeutics' innovative technologies provide the basis for clinical
development in the antibody space, a market which draws on high demand. With a
market capitalisation of around A$250 million and solid cash resources, Arana
Therapeutics has the financial stability and management expertise to accelerate
its clinical programs, and is on track to have at least 3 clinical stage assets
within three years.
Arana is listed on the Australian Securities Exchange (ASX) and the London Stock
Exchange (AIM).
The company's pipeline consists of four lead drug programs: ART621 to treat
severe rheumatoid arthritis and other inflammatory diseases; ART010 to treat
osteoporosis and bone cancer; ART104 to treat solid tumours in colorectal
cancer; and ART150 for lung cancer and melanoma. Additionally, the company has
earlier stage products in development for the treatment of a range of conditions
including age related macular degeneration, psoriasis, colorectal cancer, and
leukaemia.
Arana has recurring revenues from commercial and development partnerships with
six international companies including GSK, CSL, Centocor (J&J) and Abbott
Laboratories.
For further information: www.arana.com
For further information, please contact:
Arana Therapeutics Limited
Dr John Chiplin, Chief Executive Officer +61 (0)2 8061 9900
Niall Henderson, Chief Financial Officer +61 (0)2 8061 9900
Buchanan Communication
Lisa Baderoon/Rebecca Skye Dietrich +44 (0)20 7466 5000
Nomura Code Securities
Charles Walker +44 (0)20 7776 1200
This information is provided by RNS
The company news service from the London Stock Exchange
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