ChemGenex Pharmaceuticals Limited has received shareholder approval to demerge its metabolic diseases business, Autogen Research Limited, which is to be renamed Verva Pharmaceuticals Limited.

ChemGenex Pharmaceuticals Limited has received shareholder approval to demerge its metabolic diseases business, Autogen Research Limited, which is to be renamed Verva Pharmaceuticals Limited. This strategic demerger allows ChemGenex to focus its resources on the advancement of its clinical-stage cancer portfolio, particularly its lead product, omacetaxine mepesuccinate (formerly known as Ceflatonin) which is currently in phase 2/3 clinical trials for the treatment of chronic myeloid leukemia (CML).

Verva Pharmaceuticals is planning to merge with Adipogen Pharmaceuticals, a process that should be completed by December 20, 2007. Adipogen Pharmaceuticals is an early-stage pharmaceutical company focused on the development of novel therapies for the treatment of obesity.  Adipogen’s core technology focuses on targeting signaling molecules and enzymes responsible for fat cell formation.