Antisense Therapeutics to Establish Level 1 American Depository Receipt Program MELBOURNE, Australia, Oct. 7 /PRNewswire/ -- Antisense Therapeutics Limited (ASX:ANP) announced that it has accepted a proposal from The Bank of New York to establish a Level 1 American Depository Receipt (ADR) program. The establishment of this ADR program will facilitate the purchase of Antisense Therapeutics shares by United States investors. This initiative is a logical extension of the Company's focus on its international development, and an appropriate vehicle to leverage the high awareness of and regard for antisense technology generally and the growing international interest in Antisense Therapeutics' product development plans specifically. Mark Diamond, CEO of Antisense commented: "We are very excited to take this initial step in bringing the Antisense story to international investors. A vital part of our long-term strategy to enhance shareholder value is to improve liquidity and broaden and diversify our shareholder base by enhancing the Company's visibility in the world's largest capital market. The ADR program will help us capitalize on landmark achievements by making investing easier for existing and potential US investors." About ADRs ADRs are commonly used to facilitate US investors investing in foreign companies not listed in the USA. An ADR is created when a broker purchases a company's shares on the home stock market and delivers those to the depositary's local custodian bank, which then instructs the depositary bank, The Bank of New York, to issue Depositary Receipts. Depositary receipts may trade freely, just like any other security, in the over-the-counter (OTC) market. About Antisense Therapeutics Limited Antisense Therapeutics Limited (ASX:ANP) is an Australian publicly listed biopharmaceutical drug discovery and development company. ANP's mission is to create, develop and commercialise novel antisense pharmaceuticals for large unmet markets. Its two most advanced projects target Multiple Sclerosis (ATL1102), and Psoriasis (ATL1101). ANP plans to commercialise its pipeline via licensing/collaboration agreements with major biotechnology and pharmaceutical companies. ANP's major shareholders include Circadian Technologies Limited (ASX:CIR), Isis Pharmaceuticals Inc (NASDAQ:ISIS) and Queensland Investment Corporation. DATASOURCE: Antisense Therapeutics Limited CONTACT: Mark Diamond, Managing Director, +61-3-9827-8999, or Natalie Korchev, Company Secretary, +61-3-9827-8999, both of Antisense Therapeutics Limited; or Rachel Levine of The Anne McBride Co., +1-212-983-1702, ext. 207, for Antisense Therapeutics Limited Web site: http://www.antisense.com.au/

Copyright