Progen Pharmaceuticals Limited, a biotechnology company, engages in the discovery, development, and commercialization of small molecule pharmaceuticals for the treatment of cancer and other diseases in Australia. The company's products include PI-88, a multi-functional and multi-targeted cancer therapeutic, which is in phase II clinical trial, inhibiting angiogenesis and tumor promoting factors, such as vascular endothelial growth factor, fibroblast growth factor 1, fibroblast growth factor 2, and heparanase. Its second oncology product, PI-166 is in phase Ib clinical trial in patients with inoperable primary liver cancer. Progen Industries also develops small molecule drug candidates that modulate the interaction between carbohydrates and disease-related protein targets as potential therapeutics for cancer and other diseases. The company also provides contract manufacturing and bioprocess technology development services. Progen Pharmaceuticals was founded in 1989 as Almagest Pty., Ltd. and changed its name to Progen Industries Pty., Ltd. in 1990. Later, it changed its name to Progen Industries Limited in 1991 and to Progen Pharmaceuticals Limited in March 2007. The company is based in Toowong, Australia.