AGI Therapeutics reduces losses 17% in 2006

Irish drugmaker AGI Therapeutics has recorded a net loss of 4.3 million euros ($5.8 million), for the full year of 2006, a reduction on the 5.2 million euro deficit it reported in 2005. The firm, which joined the London Stock Exchange's Alternative Investment Market in February 2006 raising 42.5 million euros, is focused on finding new indications for existing drugs. This approach accelerates the R&D and regulatory approval process, and therefore reduces investment risk.