conversation with doug wilson, page-11

There's always been many more deals in progress from conversations i've had with NW - PYC is getting HIGH level interest from many prospective partners in the industry, personally i wouldn't be suprised if the number was greater than 8 - but it doesn't mean all of those deals will be stitched by end of calender year as has been stated many times they often take long periods in discussion to reach the final terms & negotiate the forward path.

Guidance put forward by the company is for atleast 3 big pharma deals finalised by end of 2011 - which i guess can be asumed as consevative estimates as Phylogica has a great track record over the last 18 months of reaching all there prestated guidance - I'm sure they are very happy with that status & want to keep it in tack so only look forward to targets that can be very likely to deliver.

I wouldn't say it is out of the question to exceed 3 deals by end of year - but what it really does say is expect 3 but by no means assume the pipleline stops there.

2012 will be just as exciting :-)