a cure for hep c, aids, the flu and dengue..., page-95

I'll quickly summarise the new information provided at the AGM for anyone who missed it (I assume that was all of you, as the executives and directors outnumbered the 8 or so shareholders who turned up).

Not a big turn out - but that always keeps the rambling to a minimum (though one curious holder did manage to fit in a question about insect exoskeletons). My respect for the management team has increased considerably, you just can't fault their strategy of achieving major milestones at minimum expense for maximum return. I won't elaborate further, except to say there is a very good culture of responsible management entrenched in the company.

The delays at the second trial site are ongoing due to extraneous circumstances, if they persist then the second cache of patients will soon be treated at the Thai site. The company says the trial will be completed by December or January, but my expectation now moves forward to January or February before the data is released to the ASX.

Michelle confirmed that some of the patients had indeed started the dosing stage of the trial. Some are approaching the end of the course of treatment. No serious adverse effects have been reported. In my opinion, this is extremely encouraging. In vitro combination tests have shown high levels of efficacy so my greatest concern for this trial was safety. As these patients emerge safely, I see significant de-risking.

Michelle and Peter took several opportunities to reiterate the amount of interest they had been receiving from major pharmas. They are constantly engaging with and priming numerous interested parties (pharmas, investors, newspapers, etc) so that they are familiar with the profile of the company before the outcome of the phase II trials. A lot of activity on this front.

Interest from such majors will be the mechanism by which BIT225 is eventually commercialised, however, in the interim, I still feel there is inadequate retail shareholder communication, and Biotron should endeavour to provide more descriptive explanations of company activities. The previous "Phase II HCV Trial Commenced" announcement should have explained that that the dosing phase itself would not commence for another month and that not all patients would start at once. Simple explanations can avoid market mistiming and disappointment.

Anyway, enough on the AGM from me, I'm going fishing.

It's a professional team, a vastly promising drug and a keenly interested sector. Very happy with my investment.

Now the bloody thing just needs to work.