Hi Tony, In reading through the Chairman's Report I completely overlooked the significance of the recent deal with Cubist Pharmaceuticals. Firstly, the top of Page 5 highlights Phylogica's strategy to monetise non-core assets including antimicrobial peptides which is "available for out-licensing". Directly below is a report on the Cubist deal. Cubist are evaluating several of our antimicrobial peptides.
Initially, there was some disappointment by shareholders that Cubist didn't enter into a collaborative arrangement with Phylogica similar to the Janssen deal. It would appear, however, that Cubist has simply gone to the head of the queue and are evaluating our in-house antimicrobial program with the intention of licensing promising leads. Our first licensing deal may be closer than what we thought.
Wayne.
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