The Bank of New York Appointed Depositary for Pharmaxis Listed Program
NEW YORK, November 10, 2005 - The Bank of New York, a global leader in securities servicing, has been selected by Pharmaxis Ltd as depositary bank for its American depositary receipt (ADR) program. Each Pharmaxis ADR represents fifteen ordinary shares. The ADRs trade on the NASDAQ Stock Market under the symbol "PXSL," and the ordinary shares trade on the Australian Stock Exchange under the symbol "PXS."
Pharmaxis is an Australian pharmaceutical company engaged in the research, development and commercialization of human therapeutic products that address chronic respiratory and autoimmune diseases and the development of improved lung function tests.
Christopher Sturdy, managing director and head of The Bank of New York’s Depositary Receipt Division, said, "As the depositary bank for 79% of all sponsored Australian DRs, we understand Pharmaxis’ home market. We are well-positioned to support Pharmaxis as it expands its presence in the United States and will use our expertise and resources to help the company achieve its goals."
The Bank of New York is depositary for more than 1,200 American and global depositary receipt programs, a 65% market share, acting in partnership with leading companies from 60 countries. With an unrivalled commitment to helping securities issuers succeed in the world’s rapidly evolving financial markets, the Bank delivers the industry’s most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.adrbny.com.
The Bank of New York has been conducting business in the Asia-Pacific region for over 50 years. The Company has 17 offices in 12 countries in the region, including full-service branches in Shanghai, Tokyo, Hong Kong, Singapore, Seoul, and Taipei, and employs over 1,500 staff. The Bank services the Australasian market through its representative office in Melbourne, its Sydney-based subsidiary BNY Securities Australia Limited, and BNY Trust (Australia) Pty Limited, a 50% owned joint-venture company focused on corporate trust and related activities.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, investment management, and individual & regional banking services. The Company’s extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
The Bank of New York provides no advice nor recommendation or endorsement with respect to any company or security. Nothing herein shall be deemed to constitute an offer or solicitation of an offer to buy or sell securities.
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