Ann: AGM Presentation by CEO, page-58

I bought into this on the back of the Evolis product - basically I saw it as a good product with huge potential that would make the current market cap look like peanuts if it takes off. However, I'm really not that knowledge in relation to bio-techs in general.

From what I can gather of Mal's posts, he seems to think the failure of management to "sign a deal", presumably with a venture capital firm or a JV with big pharma or some such, over the years he has been invested is a gross failure and display of ineptitude by management. I would have thought that with the multitude of biotech firms around getting any sort of significant funding from VC's or pharma companies for things at the pre-clinical and early clinical trial stages would be incredibly difficult and to do so would be a massive achievement. I'd be interested if anyone with more familiarity with this sector had any insight.

I can sort of understands Mal's frustration, but I think they made the right choice focusing their capital on Evolis rather than pumping it into clinical trials that could be hit or miss. They might not have been shooting the lights out the last few years but they could have very easily drove the company into the ditch as well.