Ann: Change of Director's Interest Notice - M Glass, page-12

Preliminary results of the smoking trial should be reported before the end of December according to company announcements. We all know that these limits are sometimes exceeded. All the results so far indicate that Nadilol can cure the damage to the lining of the lung which causes the smokers cough (and, I think, all other coughs). There is an enormous amount of work supporting this expectation. Richard Bond at Huston University (a Nobel prize winner) has done an enormous amount of work on Nadilol. This work is financed by the NIH, a USA Government body. He has shown that Nadilol turns off the pathway which causes the inflammation of the lung. He has tried all 17 known beta blockers and Nadilol is the only one which works in this way. This work is independent of IVX and not financed by them. As well IVX has compelling results in mice showing the curing of the lung lining with Nadilol. We all know men are not mice, but you can't get better evidence than that before the actual trials in humans. Hence the confidence.