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Paul Watt sounds upbeat about the company's prospects. On the commercial side, these bits stood out:


  • Two new big pharma deals in the next couple of months ("one of which we hope to close in the next month or so with a top 10 pharma company")
  • Larger part of the Roche collaboration later in the year
  • Capital raising of 5-6 million bridging finance
  • Think we can be cash flow neutral next year
  • "Substantial" milestone payments at very early stages. E.g. first pre-clinical dose in animals in a tox study
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I wonder if the capital raising placement of "bridging finance" will be a placement, in Europe, to institutional clients. This will be done through the Frankfurt exchange through an ADR type mechanism?


I would also underline that he put a timescale on the next deal - "within a month" <- now, that has got to be good news for the shareprice!!

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If they achieve cash flow neutrality in the next year the new capital could put them in position for an acquisition. Why are they calling it bridging finance, which suggests it will only be needed temporarily?


He talks about 1.5 million guaranteed revenue from a screening project:

* $US 500 - 750k licence fee

* $US 750k - 1m for screening / identification / optimisation


The larger part of the Roche project should therefore generate at least $750k.


He points out that costs go to zero after a year-long project, but there's potential for substantial downstream royalties.





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  • 1 month later...

Any opinion on the top shareholder quitting his role on the board?


Nobody in their right mind would hold a stake like that and not be sheperding company direction if they were not happy with where the company is at. The deal is done if you ask me. Roche, Pfizer, GSK, Sanofi, Bayer take your pick. One at a time or all at once? Roche and Sanofi are expecting some big decisions out of the FDA this month. Maybe these will be the catalyst.

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  • 4 weeks later...
Trading halt indicates why the director stepped down. He knows all is well but it will pay to remain vigilant on any massive spike on volume. Although we have two deals to look forward to this month, it may well be a long long time before we get the third.
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Story about the deal is out on the news wires:


JUNIOR biotechnology company Phylogica has forged one of the biggest licensing deals of the year, signing a $US98 million ($A107.5 million) agreement with international player MedImmune to investigate its portfolio of peptides to treat superbugs


US$1.5m in up front payments (half on signing, half after milestones)


MedImmune is the Biotech arm of AstraZeneca.

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Enumerate, do you have a link for this? My google search reveals nothing.


THe AZ link is interesting. Along with Roche or Novartis, a Japanese pharma and two US VC outfits they form a part of the cabal that was involved with the Silence and Genentech deals.

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