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Proximagen Neurosciences
- BY: Andrew Hore |
- POSTED: 24/03/2009 |
Parkinson’s disease treatment developer Proximagen Neurosciences ended 2008 with £10.2m in the bank.
That is thanks to the $6m payment from Upsher-Smith Laboratories for the licensing agreement for PRX1, Proximagen’s main Parkinson’s disease treatment. PRX1 should enter clinical trials before the end of 2009.
Proximagen spent £2.32m on research and development during the year, down from £2.6m in 2007. There was a £847,000 cash outflow during 2008.
At 127.5p a share, Proximagen is valued at £27.5m.
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