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Angioplasty -- New Application For Progen Drugs.

BRISBANE, Australia--(BW HealthWire)--April 7, 1999--

Research Team Demonstrates the Ability to Prevent Thickening of

Damaged Cartoid Artery by Up to 45% Using Progen's Novel

Heparanase Inhibitor, a Carbohydrate Based Molecule

Progen Industries Ltd. (Nasdaq:PGLAF)(ASX:PGL) reported today that preliminary studies conducted at the University of Queensland and the John Curtin School of Medical Research, Canberra, show that Progen's novel heparanase inhibitor, when used in experimental models that mimic vascular damage associated with angioplasty, significantly moderates the narrowing of the coronary artery.

The Progen funded research team at the University of Queensland have demonstrated in preliminary studies that Progen's novel heparanase inhibitor, a carbohydrate based molecule, can reduce the thickening of the damaged cartoid artery by up to 45%.

In the experimental model of restenosis developed at the University of Queensland, the cartoid artery is damaged and the resulting alteration in the arterial muscle cells resembles that which occurs following angioplasty.

On a world-wide basis, over one million angioplasties were performed in 1997 to treat clogged arteries. The surgical procedure involves inflating a small balloon in the patient's coronary artery to open the blockage and restore normal blood flow.

Up to 40% of patients undergoing this procedure develop a chronic narrowing of coronary arteries (restenosis). In restenosis the muscle cells lining the blood vessel become altered and cause the entire artery to contract and hence reduce blood flow. When this occurs, the angioplasty has to be repeated or bypass surgery may be performed.

This press release contains forward-looking statements that are based on current management expectations. These statements may differ materially from actual future events or results as a result of certain risks and uncertainties, including but not limited to risks associated with the development and manufacture of PI-88 and inherent in the extensive regulatory approval process mandated by the Australian Therapeutic Goods Administration and the United States Food and Drug Administration, delays in obtaining the necessary approvals for clinical testing and marketing of PI-88, market acceptance of the compounds, general economic conditions, and other risks and uncertainties detailed from time to time in Progen's filings with the Australian Stock Exchange and the United States Securities and Exchange Commission.
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Publication:Business Wire
Geographic Code:8AUQU
Date:Apr 7, 1999
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