Maxim's Strong Incentive..., page-24

Hi Hoyland, thanks for your response. However, there are plenty of companies out there carrying on after their one and only drug in the clinic has failed. 240 million people chronically infected with HBV without any good treatment options suggest that efficacy in PI/IIa would certainly be pretty good incentive for a colloboration or takeover regardless of how well TT-034 has done. Different disease and, if the AAV-8 doesn't penetrate the HCVs negative strand, it doesn't necessary mean it won't work for HBV. Personally, I just don't know enough about the science to make assumptions, but, I'm pretty sure that David Suhy and Mick Graham would be looking at this very closely before pumping millions into it's development and paying millions to Biomics to get 50% back.

I also think that the AMD program has very good prospects, and I just don't think that extrapolating results from TT-034 that uses a different vector is that worthwhile.